Broadcom targets enterprise infrastructure with $61B VMware acquisition

Semiconductor manufacturer and infrastructure software giant Broadcom will acquire virtualization and enterprise cloud vendor VMware in a deal worth roughly $61 billion in stock and cash, the companies announced on Thursday. Broadcom will also assume $8 billion of VMware net debt as part of the deal. The deal, which is still subject to customary regulatory approval and closing conditions, will see the existing Broadcom Software Group fully rebranded as VMware. The deal is the latest in Broadcom’s years-long pattern of high-profile acquisitions. The company acquired network switching vendor Brocade in 2016 for almost $6 billion, development and security software firm CA Technologies in 2018 for $19 billion, and security firm Symantec’s enterprise security business in 2019 for over $10 billion.