VMware-Broadcom acquisition deal closed after regulatory approval in China

The $69 billion acquisition deal of desktop virtualization software provider VMware by US-based hardware company Broadcom is now complete after receiving regulatory approval in China.

VMware's common stock will now cease to be traded on the New York Stock Exchange (NYSE).

"We are excited to announce the completion of Broadcom’s acquisition of VMware, marking another important step forward in our efforts to build the world’s leading infrastructure technology company," VMware said in a tweet. 

“Broadcom has a long track record of investing in the businesses we acquire to drive sustainable growth, and that will continue with VMware for the benefit of the stakeholders we serve,” Hock Tan, President and Chief Executive Officer of Broadcom, said.

In August, the UK's Competition and Markets Authority (CMA) had approved Broadcom's purchase of VMware following an in-depth investigation.

In July, the European Commission (EC) had formally approved the acquisition, with certain conditions.

At the core, Broadcom will invest in VMware Cloud Foundation, the software stack that serves as the foundation of private and hybrid clouds.

VMware will offer a rich catalogue of services to modernize and optimize cloud and edge environments, including VMware Tanzu to help accelerate the deployment of applications, as well as Application Networking (Load Balancing) and Advanced Security services, and VMware Software-Defined Edge for Telco and enterprise edges.

According to the official website of Broadcom, they will together provide enterprise customers with an expanded portfolio of business-critical infrastructure solutions to accelerate innovation and enable greater choice and flexibility to build, run, manage, connect and protect applications at scale.

With IANS inputs