Monday, August 21st 2023
Broadcom Provides Regulatory Update on VMware Transaction
Broadcom Inc. (NASDAQ: AVGO), a global technology leader that designs, develops and supplies semiconductor and infrastructure software solutions, today affirmed its expectation that its acquisition of VMware, Inc. (NYSE: VMW) will close on October 30, 2023, and provided an update on its progress with various regulatory agencies.
On August 21, 2023, Broadcom received final transaction approval from the United Kingdom's Competition and Markets Authority. This follows legal merger clearance in the European Union, as well as in Australia, Brazil, Canada, Israel, South Africa, and Taiwan, and foreign investment control clearance in all necessary jurisdictions. In the U.S., the Hart-Scott-Rodino pre-merger waiting periods have expired, and there is no legal impediment to closing under U.S. merger regulations.Broadcom continues to work constructively with regulators in other jurisdictions and is in the advanced stages of the process toward obtaining the remaining required regulatory approvals, which Broadcom believes will be received before October 30, 2023. Accordingly, together with VMware, Broadcom has agreed to further extend the Outside Date as contemplated in the transaction agreement, as will be further described in a Form 8-K to be filed by VMware with the U.S. Securities and Exchange Commission.
Broadcom is confident that the combination with VMware will enhance competition in the cloud and benefit enterprise customers by giving them more choice and control over where they locate their workloads.
About Broadcom Inc.
Broadcom Inc. (NASDAQ: AVGO), a Delaware corporation headquartered in San Jose, CA, is a global technology leader that designs, develops and supplies a broad range of semiconductor and infrastructure software solutions. Broadcom's category-leading product portfolio serves critical markets including data center, networking, enterprise software, broadband, wireless, storage and industrial. Our solutions include data center networking and storage, enterprise, mainframe and cybersecurity software focused on automation, monitoring and security, smartphone components, telecoms and factory automation. For more information, go to https://www.broadcom.com.
On August 21, 2023, Broadcom received final transaction approval from the United Kingdom's Competition and Markets Authority. This follows legal merger clearance in the European Union, as well as in Australia, Brazil, Canada, Israel, South Africa, and Taiwan, and foreign investment control clearance in all necessary jurisdictions. In the U.S., the Hart-Scott-Rodino pre-merger waiting periods have expired, and there is no legal impediment to closing under U.S. merger regulations.Broadcom continues to work constructively with regulators in other jurisdictions and is in the advanced stages of the process toward obtaining the remaining required regulatory approvals, which Broadcom believes will be received before October 30, 2023. Accordingly, together with VMware, Broadcom has agreed to further extend the Outside Date as contemplated in the transaction agreement, as will be further described in a Form 8-K to be filed by VMware with the U.S. Securities and Exchange Commission.
Broadcom is confident that the combination with VMware will enhance competition in the cloud and benefit enterprise customers by giving them more choice and control over where they locate their workloads.
About Broadcom Inc.
Broadcom Inc. (NASDAQ: AVGO), a Delaware corporation headquartered in San Jose, CA, is a global technology leader that designs, develops and supplies a broad range of semiconductor and infrastructure software solutions. Broadcom's category-leading product portfolio serves critical markets including data center, networking, enterprise software, broadband, wireless, storage and industrial. Our solutions include data center networking and storage, enterprise, mainframe and cybersecurity software focused on automation, monitoring and security, smartphone components, telecoms and factory automation. For more information, go to https://www.broadcom.com.