SAN JOSE, California (AP) — Computer chip and software maker Broadcom has announced it has cleared all regulatory hurdles and plans to complete its $69 billion acquisition of cloud technology company VMware on Wednesday.
The company, based in San Jose, California, announced it planned to move ahead with the deal after China joined the list of countries that had given a go-ahead for the acquisition.
Broadcom is paying $61 billion in cash and stock for VMware and taking on $8 billion of its debt, making this one of the biggest technology deals ever.
The European Commission, the EU’s executive arm and top antitrust enforcer, cleared the deal after Broadcom made concessions to address its concerns about competition.
VMware, which is based in Palo Alto, California, has close relations with every major cloud company and provider, including Amazon, Google and Microsoft.
Persons:
Hock Tan, Tan
Organizations:
JOSE, Broadcom, VMware, Microsoft, Activision, Administration of, European Commission, Amazon, Google, European Union, Symantec, CA Technologies, VMWare
Locations:
California, San Jose , California, China, Europe, Palo Alto , California, Australia, Brazil, Canada, Israel, Japan, South Africa, South Korea, Taiwan, United Kingdom