Broadcom has successfully concluded its acquisition of VMware, a desktop virtualization software provider, following the approval of regulators in China. As a result, VMware's common stock will no longer be traded on the New York Stock Exchange (NYSE).
Hock Tan, President and CEO of Broadcom, expressed enthusiasm about integrating VMware into Broadcom and uniting their innovative teams. He emphasized Broadcom's commitment to investing in the acquired businesses to drive sustained growth for stakeholders.
The acquisition had received approvals from regulatory bodies, including the UK's Competition and Markets Authority (CMA) and the European Commission (EC). Broadcom's focus lies in advancing VMware Cloud Foundation, a crucial software stack supporting private and hybrid clouds.
VMware is poised to offer an array of services aimed at modernizing and optimizing cloud and edge environments. This includes VMware Tanzu, facilitating swift application deployment, Application Networking for Load Balancing, Advanced Security services, and VMware Software-Defined Edge tailored for Telco and enterprise edges. The collaboration seeks to enhance infrastructure technology and bolster innovation within the combined entity.
(With Agency Inputs)
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