Broadcom to Buy VMware for $61B in Big Tech Tie-Up
Summary
Computer chip and software maker Broadcom, on Thursday, May 26, 2022, will spend about $61 billion to acquire the cloud technology company VMware, one of the biggest deals of the year, despite rising inflation and some economic uncertainty. Computer chip and software maker Broadcom will spend about $61 billion to acquire the cloud technology company VMware, one of the biggest deals of the year despite rising inflation and economic uncertainty. The proposed deal comes just weeks after billionaire and Tesla CEO Elon Musk offered to spend $44 billion on Twitter. The transaction includes a “go-shop" provision, so VMware is allowed to actively solicit, receive, evaluate and potentially enter negotiations with parties that offer alternative proposals during a 40-day period. Shares of Broadcom dipped before the market opened Thursday, while VMwares stock rose slightly.
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