About This Deal

Broadcom acquired VMware, Inc. for ~$69 billion, a transaction completed in November 2023, structured as cash-and-stock (50% cash / 50% Broadcom stock election, prorated).

VMware, Inc. operates in Infrastructure software, is based in Palo Alto, California, USA. Broadcom acquired VMware, a leader in multi-cloud and virtualization software, in its largest deal to date. VMware's Cloud Foundation stack, virtualization portfolio, and enterprise customer base became the anchor of Broadcom's software strategy. Broadcom folded its existing software assets into VMware and refocused the business on helping enterprises build private and hybrid cloud environments.

Extends Broadcom's infrastructure software footprint from mainframe and enterprise software into virtualization and multi-cloud, deepening its position with Global 2000 enterprises and adding a large base of recurring software revenue.

Large recurring-revenue virtualization franchise with deep enterprise penetration and a mission-critical software stack. VMware became the core of Broadcom's software group; Broadcom software assets folded into VMware, with focus on VMware Cloud Foundation.

Deal Terms

Acquirer
Broadcom
Target
VMware, Inc.
Value
~$69 billion
Date
November 2023
Type
Full acquisition
Status
Ready

Transaction Details

Target HQ
Palo Alto, California, USA
Segment
Infrastructure software
Structure
Cash-and-stock (50% cash / 50% Broadcom stock election, prorated)
Announced
May 26, 2022
Closed
November 22, 2023

In Their Words

We are excited to welcome VMware to Broadcom and bring together our engineering-first, innovation-centric teams as we take another important step forward in building the world's leading infrastructure technology company.Hock Tan, President and CEO, Broadcom

Advisors

Advisory firms were not disclosed for this transaction.

Related Deals & Entities

Sources: Press release ↗ · SEC filing ↗

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