Broadcom Inc. and VMware, Inc. announced an agreement under which Broadcom will acquire all of the outstanding shares of VMware in a cash-and-stock transaction that values VMware at approximately $61 billion, based on the closing price of Broadcom common stock on May 25, 2022. Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC are serving as financial advisors to VMware Basically every BB. Broadcom contends that it can do this by. A. Additional Information about the Transaction and Participants in the Solicitation Broadcom Inc. ('Broadcom") intends to file with the SEC a Registration Statement on Form S-4 that will include a proxy statement of VMware, Inc. ("VMware") and that also constitutes a prospectus of Broadcom, as well as other relevant documents concerning the proposed transaction. Here's Why. On Tuesday, employees started asking if the company had an acquisition. The companies have little overlap, and with its massive price tag, the acquisition would rank among the highest ever in tech. VMware has a 40-day "go-shop" provision that allows VMware and its board to actively solicit, receive,. The megadeal between Broadcom and VMware has loosened the tongues of tech CEOs who wager if the company that emerges can keep innovation alive, it will hold on to customers despite some churn.. From the get-go, Broadcom's plan to buy VMware seemed far-fetched. Earlier rumours gave the impression that Broadcom considered discontinuing the platform. If we believe Dave Valente and Hock Tan, Broadcom CEO, the new VMware's primary focus includes increasing profit to $8B/year and doing everything to increase profit to $8B/year. The potential deal would drastically expand Broadcom's software play. Essentially Broadcom has offered to buy every share at a cash price of $142.50, or an exchange of 0.252 in Broadcom stock for every 1 VMWare share. Broadcom started out as a semiconductor chip company (Avago acquired Broadcom in 2015 and renamed itself Broadcom, with the AVGO stock ticker) but built a software infrastructure portfolio with acquisitions of Brocade (2017), CA Technologies (2018) and Symantec (2019). Barclays Capital Inc., BofA Securities, Inc., Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Morgan Stanley & Co. LLC and Wells Fargo Securities, LLC are serving as financial advisors to Broadcom. Advisor integrates with a wide range of network management solutionsincluding tools from VMware, Microsoft, HP, EMC, and IBMto provide end-to-end network visibility. On Broadcom's post-earnings call in March, CEO Hock Tan said that the company had the capacity for a "good size" acquisition and VMware looks to be the latest target. VMware also has 40 days to find another buyer. Broadcom is growing at more than 20% per year, whereas VMware's latest quarter showed a disappointing 3% growth. Resources. Broadcom and Fujitsu in Central Europe have been technology partners for more than 20 years. You can't improve the customer experience while increasing profits to such an astounding amount. The offer of $142.50 in cash or 0.2520 of a Broadcom share for each VMware stock represents a premium of nearly 49% to the stock's last close before talks of the deal were first reported on May 22. By Foo Yun Chee BRUSSELS, Oct 17 (Reuters) - U.S. chipmaker Broadcom AVGO.O will seek early European Union antitrust approval of its proposed $61 billion buy of cloud computing company VMware. Broadcom Inc said on Thursday it will acquire cloud computing company VMware Inc in a $61 billion cash-and stock deal, the chipmaker's biggest and boldest bid to diversify its business into enterprise software. VMware customers in APAC will need to assess their exposure amid uncertainty over the impact of the mega deal on the market. In addition, Broadcom will assume $8 billion of VMware net debt. Broadcom's planned acquisition of VMware for $61bn could expand its . VMware's stock rose 20 percent in premarket trading on Monday, valuing the company at about $48 billion. You may obtain free copies of these documents from Broadcom or VMware using the sources indicated above. Semiconductor manufacturer and infrastructure software vendor Broadcom confirmed Thursday that it has reached an agreement to buy VMware in a deal worth roughly $61 billion in stock and cash,. The week before the acquisition was announced Symantec sent an army of sales people to our office to talk up the solution. Additional Information about the Transaction and Participants in the Solicitation: Broadcom Inc. ('Broadcom") intends to file with the SEC a Registration Statement on Form S-4 that will include a proxy statement of VMware, Inc. ("VMware") and that also constitutes a prospectus of Broadcom, as well as other relevant documents concerning . When it was first purchased by EMC in 2004 and when Dell acquired EMC in 2016, VMware was left alone and given the freedom to continue to innovate its product portfolio. Broadcom will not reach the goal via cuts alone. Professional Plus or Enterprise bundles are required to use the Brocade Network Advisor Plugin for VMware vCenter, the Brocade SAN Analytics Pack for VMware vRealize Operations, and the Brocade SAN Management Pack for Microsoft SCOM. Broadcom (Nasdaq: AVGO) is in talks to buy VMware (NYSE: VMW), according to a variety of news sources. Broadcom Software modernizes, optimizes, and protects the world's most complex hybrid environments. The intended purchase, which may still fall through, could boost Broadcom's efforts to extend further into the datacenter market, particularly the market for data processing units (DPUs), also known as smart network interface . But this goal may be. If Broadcom is forced to cancel the deal for any reason, the organization must compensate VMware with a sum of $1.4 billion. VMware, a leading provider of multi-cloud services for all apps, pioneered virtualization technology, an innovation that. At AVGO's. VMware is one of the most prized assets in the IT industry (although share price has dropped by over 40% in the last 12 months) and the US$61 . Q. Organizations also have the flexibility to extract data directly from Brocade Network Advisor for integration with homegrown applications by using the Analysts note VMware's technology innovation has stagnated and question whether Broadcom is looking for a cash cow. True story: I was working for a company that was considering Symantec's DLP solution at the time that Broadcom bought Symantec. What a Combined Broadcom and VMware Can Deliver to Our Customers This is Broadcom's 2nd transaction in the Internet Software and Services sector. The deal is a combination of cash and stock, with Broadcom assuming $8 . On a year-over-year basis, Broadcom earnings increased 37% while sales advanced 23%. This is Broadcom's third, and largest acquisition in three years. This is Broadcom's 25th transaction in the United States. What a Combined Broadcom and VMware Can Deliver to Our Customers . They make chips," said Keith Townsend, CEO and founder of The CTO Advisor. Broadcom Deal for VMware Highlights the Rise of Virtualization The $61 billion acquisition of VMware reflects growing demand for software applications that replace expensive computer hardware. VMWARE, INC. (Exact name of registrant as specified in its charter) Delaware : 001-33622 : 94-3292913 . Broadcom Software. Broadcom's Hock Tan lost credibility with customers when Broadcom laid out the aggressive plan to increase the efficiency of VMware to the tune of $3B more in profit. On May 26, 2022, Broadcom acquired internet software and services company VMware for 61.0B USD Acquisition Highlights. It was worth $40bn on the Friday before the first leaks came out about a potential takeover by Broadcom. Is Broadcom stock a buy now?. Broadcom to Acquire VMware for Approximately $61 Billion in Cash and Stock PDF Version Advances Broadcom's strategy to build the world's leading infrastructure technology company, with track record of acquiring established, mission-critical platforms Brings together two engineering-first, innovation-centric cultures VMware has been through two previous acquisitions. Fujitsu has been able to realize increased operational efficiencies, including reducing alarm noise by 70%, by improving monitoring processes, monitoring scale, and network configuration management practice. Broadcom's Hock Tan lost credibility with customers when Broadcom laid out the aggressive plan to increase the efficiency of VMware to the tune of $3B more in | 14 LinkedIn Keith Townsend LinkedIn: What a Combined Broadcom and VMware Can Deliver to Our Customers | 14 For the . Contacts: Broadcom Inc. Ji Yoo Investor Relations 408-433-8000. Just days after Broadcom concluded its $18.9 billion acquisition of CA Technologies in 2018, the company laid off 300 of the employees it inherited and said it would lay off another 2,000 of CA's 4,800 employees over time. Broadcom could do the same and give VMware the autonomy to operate business as usual, IDC's Nadkarni said. UPDATE : Broadcom Inc. and VMware, Inc. have announced an agreement under which Broadcom will acquire all of the outstanding shares of VMware in a cash-and-stock transaction that values VMware at approximately US$61 billion, based on the closing price of Broadcom common stock on May 25, 2022. SILICON VALLEYMay 26, 2022 O'Melveny advised Broadcom Inc., a global technology leader that designs, develops, and supplies semiconductor and infrastructure software solutions, in its agreement to acquire VMware Inc., a leading innovator in enterprise software, for approximately US$61 billion. Meanwhile, VMware is still the leader in virtualization with more . The WSJ reports the acquisition would nearly triple the size of Broadcom's software division and account for nearly 49% of its revenue. The acquisition is said to have been made quietly without the employees' knowledge. Broadcom is mostly a hardware company, but its gross margin is in the high 70s. The acquisition could fetch about $60 billion with Broadcom ready to disburse $140 for each share of VMware. President and CEO Hock Tan has been visiting Broadcom customers around the world to discuss what's on the horizon. ago. That makes VMware a prized asset for Broadcom's chief executive, Hock E. Tan. Analysts polled by FactSet predicted Broadcom earnings of $8.72 a share on sales of $7.91 billion. VMware employees and users have justification for concern. 3 mo. former CA and Symantec), I help customers with their digital transformation. Tip: Broadcom's strategy ignores hundreds . Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC are serving as financial advisors to VMware, and Gibson, Dunn & Crutcher LLP is serving as legal counsel. Since the split with Dell, VMware's value has fallen. CNBC's David Faber reported that it could come sooner after several news outlets reported the two companies were. Additional Information about the Transaction and Participants in the Solicitation: Broadcom Inc. ('Broadcom") intends to file with the SEC a Registration Statement on Form S-4 that will include a proxy statement of VMware, Inc. ("VMware") and that also constitutes a prospectus of Broadcom, as well as other relevant documents concerning . If Broadcom uses the strategies it outlined last November once VMware has been acquired, it's not hard to see many millions of sales expenses going away. He confirmed that Tanzu, VMware's cloud-based application development platform, isn't going anywhere. In my current role at Broadcom Software as Regional CTO for CEMEA, representing the enterprise wide software solution portfolio of Broadcom (incl. Broadcom's acquisition of VMware would be historic in terms of impact to Broadcom's business and to the number of enterprises affected. "Broadcom isn't a company that should even be on the CIOs map prior to this acquisition. (-0.17%) -$0.79 Current Price $460.39 Price as of October 27, 2022, 11:41 a.m. Broadcom had been gearing up to announce an acquisition of VMware on Thursday. The Brocade Network Advisor license is not required for integration with VMware vRealize Log Insight. Months after the deal, Broadcom sold off CA's Veracode SaaS . A reminder: Broadcom has said it expects VMware to contribute $8.5 billion to EBITDA within three years of the acquisition deal closing, a substantial jump from VMware's current $4.7 billion. Under the terms of the proposed acquisition, announced on May 22nd, VMW shareholders will elect to receive either $142.50 per share or 0.252 shares of Broadcom for each share of VMW. VMWare hasn't been immune to the. After the transaction is closed, the Broadcom Software Group will rebrand and operate as VMware and incorporate Broadcom's existing infrastructure and security software solutions as part of an expanded VMware portfolio. Advertisement Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC are serving as financial advisors to VMware, and Gibson, Dunn & Crutcher LLP is serving as legal counsel. Broadcom wants to acquire VMware for 61 billion dollars (57 billion euros). Wachtell, Lipton, Rosen & Katz and O'Melveny & Myers LLP are serving as legal counsel to Broadcom, and Cleary Gottlieb Steen & Hamilton LLP is serving as regulatory counsel. Broadcom expects to close its $61 billion acquisition of VMware by January 2023. At the time of publication, its market cap had risen to $50bn, spiking as a result of the rumours. Broadcom reportedly is pursuing VMware for an acquisition that would expand its software business by a factor of three. BRUSSELS, Oct 17 (Reuters) - U.S. chipmaker Broadcom (AVGO.O) will seek early European Union antitrust approval of its proposed $61 billion buy of cloud computing company VMware (VMW.N) by . ET Broadcom is acquiring cloud services provider VMware for a whopping $61 billion. The acquisition has yet to be approved by authorities. Broadcom's purchase of VMware will help the company diversify away from its core business of designing and selling semiconductors into enterprise software, which can have larger margins.. I'm sure VMware customers will continue to give Broadcom money for the foreseeable future as there's very little alternative. Stocks Higher, Week Ahead, VMware, Apple And Zoom In Focus - Five Things You Must Know VMware shares were marked 20.9% higher in early afternoon trading Monday to change hands at $115.75 each.. Wachtell, Lipton, Rosen & Katz and O'Melveny & Myers LLP are serving as legal counsel to Broadcom, and Cleary Gottlieb Steen & Hamilton LLP is serving as regulatory counsel. Just six months after VMware completed its spinoff from former parent Dell Technologies, chip manufacturer Broadcom has confirmed plans to acquire all VMware's shares for US$61 billion, a premium of around 49% on VMware's pre-announcement valuation. Broadcom expects VMware to add $8.5 billion of pro forma EBITDA to its bottom line within three years post-closing, the company said in a press release about the deal. Broadcom will spend the equivalent of $138.23 per share for VMware in the cash-and-stock deal, it said in a . After days of speculation, Broadcom has announced it is acquiring VMware in a massive USD 61 billion cash-and-stock deal. In addition, Broadcom will assume $8 billion of VMware net debt. This would represent a 46% premium to the pre-deal stock price of $95.7. Contact Us. Broadcom Inc Broadcom's $69bn VMware deal set for lengthy EU antitrust investigation Brussels competition regulators plan detailed probe in move that will delay acquisition Broadcom has. One potential red flag is Broadcom's stated goal of increasing VMware's annual profits from $4.7 billion to $8.5 billion within three years. It turns out that fire was burning hot, and today, Broadcom announced it is acquiring VMware in a massive $61 billion deal. Broadcom, a low-level company in the US peninsula, also known as Broadcom, announced the acquisition of VMWare, a well-known virtualization and private cloud company, for $61 billion. How VMware fits in the broader Broadcom strategy: an analyst view. The complaint explains that VMWare is a "leading provider of multi-cloud services for all apps, enabling digital innovation with enterprise control," while Broadcom is a "global technology. The CEO indicated that Broadcom will work on profiling VMware as the all-encompassing management software for various workloads in multi-cloud environments. This is Broadcom's largest (disclosed) transaction. The acquisition is the second biggest announced globally so far this year, trailing only Microsoft Corp's $68.7 billion deal to buy video game maker Activision Blizzard Inc. Talent Advisor at VMware 3d Report this post What a Combined Broadcom and VMware Can Deliver to Our Customers. It's clear from these conversations that three topics are top of mind for customers as it relates to VMware : multi-cloud, cloud-native apps, and pricing. Citing sources familiar with the matter, Reuters reported Sunday that Broadcom wants to shave four months off its acquisition timeline. Why Broadcom Software. Broadcom Inc. is a global technology leader that designs, develops and supplies semiconductor and infrastructure software solutions. Broadcom hopes to convince European antitrust regulators to greenlight its $61 billion takeover of VMware early - by claiming it will boost competition with public cloud giants Microsoft, Amazon, and Google. 2022 to, among other things, vote on a proposal to approve the previously announced acquisition of VMware by Broadcom Inc., a Delaware corporation ("Broadcom"), pursuant to that certain Agreement and Plan of Merger, dated as of May 26 . Bloomberg on Sunday evening reported that chipmaker Broadcom has entered discussions with VMware leaders around buying the software provider. Shares in Broadcom, which is worth more than $200 billion, fell 4 percent.
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