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Broadcom Is in Discussions to Acquire VMware

Aria Thomas

May 23, 2022 09:50

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People familiar with the subject told Reuters that chipmaker Broadcom (NASDAQ:AVGO) Inc is in talks to acquire cloud service provider VMware (NYSE:VMW) Inc.


According to the sources, negotiations between Broadcom and VMware are ongoing and a deal is not imminent. The terms of the proposed transaction could not be discovered.


The acquisition will diversify Broadcom's business away from semiconductors and into enterprise software, following its $18.9 billion acquisition of CA Technologies and its $10.7 billion acquisition of Symantec (NASDAQ:NLOK) Corp's security division over the past four years.


The deal was initially revealed by Bloomberg News on Sunday night. Broadcom and VMware did not reply immediately to requests for comment from Reuters. As of market closure on Friday, VMware had a market capitalization of $40.3 billion.


According to Refinitiv statistics, Michael Dell is VMware's largest investor with a 40 percent ownership as a result of Dell Technologies (NYSE:DELL) Inc spinning off VMWare to its shareholders last year.


Silver Lake, a private equity firm that has previously invested in Broadcom, is VMware's second largest stakeholder with a 10 percent stake, according to Refinitiv data.

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