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The company, based in San Jose, California, announced it planned to move ahead with the deal after China joined the list of countries that had given a go-ahead for the acquisition.
Broadcom is paying $61 billion in cash and stock for VMware and taking on $8 billion of its debt, making this one of the biggest technology deals ever.
The announcement came soon after Microsoft acquired video game-maker Activision Blizzard for $69 billion, also one of the most expensive tech acquisitions in history.
It took 18 months for Broadcom to get all the regulatory approvals, just days before the merger agreement was due to expire.
The acquisition was able to go ahead after China’s State Administration of Market Regulation said Broadcom’s commitments, submitted Monday, would reduce the impact of the merger.
This story is from the November 25, 2023 edition of Techlife News.
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This story is from the November 25, 2023 edition of Techlife News.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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