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☆ Leaked memo: Broadcom leaders address KKR's plans to acquire VMware's End-User Computing unit for $4 billion
▼ + stars: | 2024-02-26 | by ( Rosalie Chan | ) www.businessinsider.com time to read: +8 min

KKR announced on Monday that it entered into a definitive agreement to acquire the End-User Computing division from Broadcom for about $4 billion. Broadcom acquired VMware in November, and it had been reviewing strategic alternatives for EUC, BI previously reported. In addition, he said employees should help customers complete their renewals as many customers have expired renewals. Prior to the acquisition by Broadcom, VMware employees had already been speculating the EUC business, as well as the Carbon Black cybersecurity business, would be spun out, BI previously reported. Help customers complete their renewals and add on orders.

Persons: EUC, Shankar Iyer, Iyer, Robert Ruelas, Ruelas, Shankar Organizations: Broadcom, VMware, KKR, Business Insider, Reuters, Business, Iyer, EUC, Revenue Locations: Vegas

☆ Walmart and Target borrowing ideas from each other shows we're in a new economic landscape
▼ + stars: | 2023-12-05 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

In today's big story, we're looking at the rising similarities between Target and Walmart. Dominick Reuter/Business InsiderIf imitation is the sincerest form of flattery, Walmart and Target are embarking on some serious tributes to each other. AdvertisementTwo of the country's largest retailers are taking pages from each other's playbooks as they adjust to a changing economic landscape. And Walmart founder Sam Walton openly admitted he stole borrowed plenty of ideas from Sol Price, the originator of the wholesale club model. That's led Walmart to see an increase in higher-income clientele, a trend they're leaning into.

Persons: —, Dominick Reuter, Insider's Dominick Reuter, Dominick, Christina Hennington, it's, Sam Walton, Sol Price, That's, Charlie Flanagan, Management's Bryan Kelly, Li Deng, Mike Schuster, Sam Altman Andrew Caballero, Reynolds, Daniel Ek, Slaven Vlasic, Rebecca Zisser, Elon, Zers, Xochitl Gomez, Alyson Hannigan, Jason Mraz, Charity Lawson, Ariana Madix, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, Target, Walmart, AQR, Investments, AQR Capital Management, Vatic Investments, Sigma, Investment, Barclays, ING, MSCI Israel, Tel, Tel Aviv Stock Exchange, Israel Securities Authority, Reuters, Broadcom, VMware, The New York Times, Inc, Adobe, ABC, Major, Baseball, MLB Network Locations: Israel, Tel Aviv, New York City, San Diego, London, New York

☆ At VMware, 'change' and 'uncertainty' loom after its $69 billion acquisition by Broadcom, which left customers on edge
▼ + stars: | 2023-12-02 | by ( Rosalie Chan | ) www.businessinsider.com time to read: +9 min

Under Broadcom, VMware will operate in four divisions, Broadcom CEO Hock Tan told employees last week in an email. Competitors swoop inNow that Broadcom has acquired VMware, competitors, and partners see a big opportunity to win over VMware customers. VMware customers had already been concerned that Broadcom ownership may hurt innovation and cause a talent exodus , while VMware slowed down customer deals, BI previously reported. He said he has heard from VMware customers that they're "really concerned" and that Broadcom is "confirming the worst fears" customers have about the acquisition. VMware layoffsBroadcom conducted layoffs of VMware employees on Monday.

Persons: It's, it's, Hock Tan, Hock, Nutanix, Rajiv Ramaswami, they've, Ramaswami, Bryan Cantrill, Cantrill, they'll, what's, Tan, he'll, Hock E, Tan Lucas Jackson, Raghu Raghuram Organizations: Broadcom, VMware, Business, EMC, Dell, Employees, BI, Oxide Computer Company, San Francisco Chronicle, Symantec, CA Technologies Locations: China, Dell, India, Latin America

☆ Broadcom CEO tells VMware employees that it doesn't do company-wide parties or employee-resource groups: 'That's an alien concept to me'
▼ + stars: | 2023-11-30 | by ( Rosalie Chan | ) www.businessinsider.com time to read: +3 min

On Tuesday, Broadcom CEO Hock Tan addressed questions from VMware employees in an all-hands meeting. Some employees asked about company culture perks such as employee-resource groups and company-wide parties – both of which Tan said Broadcom doesn't do, according to a recording of the meeting viewed by Business Insider. Tan added that Broadcom doesn't have those groups although it doesn't mean the company shouldn't and that it could learn from them. He said Broadcom doesn't do celebrations on a company-wide basis, but each division can choose to have celebratory or team-building events if they want. Broadcom laid off VMware employees on Monday.

Persons: Hock Tan, Tan Organizations: Broadcom, VMware, Business, Broadcom doesn't

☆ Leaked email shows the top executives leading VMware's edge unit after Broadcom's $69 billion acquisition
▼ + stars: | 2023-11-29 | by ( Rosalie Chan | ) www.businessinsider.com time to read: +1 min

After Broadcom acquisition, VMware will operate with four divisions. A leaked email shows the top executives who will lead one of these divisions, Software-Defined Edge. Broadcom laid off VMware employees this week after closing the deal November 22. After Broadcom closed its $69 billion acquisition of VMware on November 22, it also did some reorganization. Tan also named other top executives who will report to Uppal and help lead the division, according to an email that was viewed by Business Insider.

Persons: Hock Tan, Sanjay Uppal, Tan Organizations: Broadcom, VMware, VMware Cloud Foundation, Business

☆ Leaked email: Broadcom CEO says the company is reviewing 'strategic alternatives' for two of VMware's businesses
▼ + stars: | 2023-11-29 | by ( Rosalie Chan | ) www.businessinsider.com time to read: +5 min

Broadcom CEO Hock Tan told employees he's reviewing strategic alternatives for two parts of VMware following the acquisition of the cloud software company. Most recently, VMware president Sumit Dhawan became CEO of cybersecurity company Proofpoint. I am very pleased to welcome VMware employees to Broadcom and bring together our engineering-first, innovation-centric teams. We will also continue to support VMware's End-User Computing, led by Shankar Iyer, VP and General Manager, and Carbon Black, led by Jason Rolleston, VP and General Manager, as we review strategic alternatives for these two businesses. As we move forward, we expect there will be growth opportunities for VMware employees within the larger combined company.

Persons: Hock Tan, Tan, CRN, Raghu Raghuram, Krish Prasad, Purnima Padmanabhan, Sanjay Uppal, Umesh Mahajan, Thoma, Sumit Dhawan, •, Shankar Iyer, Jason Rolleston, Mike Gannon, • Regan McGrath, Luigi Freguia, • Sylvain Cazard, Cynthia Loyd, Ricky Cooper, Joan Stone, Mark Nagle, • Bryan Prosek Organizations: Broadcom, VMware, Business, VMware Cloud Foundation, CA Technologies, Thoma Bravo, Symantec, Cyber Security Services, Accenture, HCL Technologies, Broadcom Employees, •, Security, Strategic, Corporate, Asia Pacific, Services

☆ Why Cramer thinks Broadcom stock is down ahead of a key acquisition
▼ + stars: | 2023-11-21 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +5 min

Shares of Broadcom (AVGO) came under pressure Tuesday, as investors likely cashed in after the stock surged to an all-time high. Shares of Broadcom fell more than 1% Tuesday, to around $983.70 apiece. VMWare shares fell around 4.5% Tuesday, to $143.20 each, bringing the company's stock closer to the cash-consideration level spelled out in the merger agreement . As a result of the transaction, Jim argued investors may eventually assign a higher earnings multiple to Broadcom stock, which could help boost its price over time. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Jim Cramer, —, Jim, Hock Tan, Jim Cramer's, Justin Sullivan Organizations: Broadcom, Club, VMWare, CA Technologies, FactSet, CNBC Locations: Beijing, China, San Jose , California

☆ Why the case for owning Broadcom is compelling with or without its $61 billion takeover of VMWare
▼ + stars: | 2023-10-30 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +6 min

Club holding Broadcom 's (AVGO) investment prospects look bright – with or without cloud software maker VMWare (VMW) under its corporate roof. For now, though, the companies remain apart after Broadcom's planned $61 billion takeover of VMWare did not close Monday, as previously scheduled. AVGO YTD mountain Broadcom YTD With VMWare, Broadcom would be a company with sales split roughly 50-50 between its traditional semiconductor division — an artificial intelligence beneficiary — and software, which typically is higher-margin revenue. Without VMWare, Broadcom would have freed up its capacity to reward shareholders in a different, but still meaningful, way. Even with the buyback silver lining, our hope is Broadcom completes the VMWare deal because it should boost Broadcom's earnings over time.

Persons: Broadcom's, CNBC's David Faber, Jim Cramer, Hock Tan, Jim, Broadcom's Tan, CNBC's Faber, There's, Jim Cramer's, Broadcom Lucas Jackson Organizations: Broadcom, VMWare, Club, Nvidia, Google, European Union, Financial Times, U.S, Intel, Semiconductor, Qualcomm, NXP Semiconductors, Microsoft, Activision, CNBC Locations: United Kingdom, Japan, Canada, China, California, Beijing

We're buying 7 shares of Broadcom (AVGO) , at roughly $812 apiece. Following Tuesday's trade, Jim Cramer's Charitable Trust will own 80 shares of AVGO, increasing its weighting in the portfolio to 2.38% from 2.18%. AVGO YTD mountain Broadcom YTD As we've noted previously, we think Broadcom will prove to be a key beneficiary of generative artificial intelligence adoption. The acquisition stands to provide a boost to Broadcom's overall gross margin profile, given VMWare's gross margin in the mid-80th percentile. That's firmly above the 75% gross margin we saw for Broadcom overall in fiscal Q3.

Persons: Jim Cramer's, we're, we've, Hock Tan, there's, Jim Cramer, Jim, Eduardo MunozAlvarez Organizations: Broadcom, AVGO, Starbucks, Nvidia, VMWare, CNBC, View, Getty

☆ Bank of America upgrades this cloud computing stock that can surge nearly 50%
▼ + stars: | 2023-09-21 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

Nutanix has a promising multilever growth story, according to Bank of America. Nutanix, which offers cloud services and software solutions, recently announced a new software-defined platform called " GPT-In-A-Box. " The partnership will combine "the Nutanix cloud platform with Cisco's UCS compute, cloud management, networking and security," said the analyst. Mohan thinks the company could also benefit from Broadcom's upcoming acquisition of cloud computing peer VMware. Ahead of the company's analyst day later this month, Mohan thinks Nutanix can exceed Wall Street consensus estimates.

Persons: Nutanix, Wamsi Mohan, ACV, Mohan, — CNBC's Michael Bloom Organizations: Bank of America, Cisco, VMware, Broadcom, Dell, HP Enterprise Locations: billings

☆ Here's why we like Broadcom so much, especially after Google shot down a damaging report
▼ + stars: | 2023-09-21 | by ( Jeff Marks | ) www.cnbc.com time to read: +7 min

We started buying semiconductor giant Broadcom (AVGO) last month and added to our position a few times since it reported fiscal third-quarter results Aug. 31. Indeed, the Thursday morning sell-off in Broadcom, which was down 4.3% at its intraday lows, is an overreaction. While Broadcom's AI revenue is growth is growing incredibly fast, the rest of its semiconductor business is stabilizing after working through its post-Covid inventory gluts. In fact, with the additional of VMware, Broadcom's companywide revenues will be about half semiconductor and half software. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: CNBC's Kristina Partsinevelos, Jim Cramer, EBITDA, There's, buyback, Jim Cramer's, Jim, Justin Sullivan Organizations: Broadcom, Devices, Investment, Google, Club, Apple, Software, VMware, Nvidia, Texas, AMD, Intel, Marvell, CNBC Locations: San Jose , California

☆ Leaked email outlines VMware employees' potential fates as the Broadcom acquisition closes
▼ + stars: | 2023-09-14 | by ( Rosalie Chan | ) www.businessinsider.com time to read: +2 min

VMware employees received an email this week laying out what their fates could be when Broadcom closes its $61 billion acquisition of the cloud computing and virtualization company. Sutter had cautioned that employees should "expect a feeling of acceleration" as the close date approaches and that Broadcom is "driving the playbook," the email said. According to the email, VMware employees will have one of three options for their employment status: receive a Broadcom offer, a transitional role offer, or a severance package. VMware is aiming to notify employees of their status by mid to late October, but it could be later or after the acquisition closes, the email said. The target for notifying employees of their status is mid-late October, but it could be later or even after close.

Persons: Raghu Raghuram, Betsy Sutter, Sutter Organizations: VMware, Broadcom, Employees

☆ Broadcom's post-earnings pullback doesn't shift the fundamentals. It's a buying opportunity
▼ + stars: | 2023-08-31 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

Excluding these AI-related sales, semiconductor sales have largely stabilized around the $6 billion level and management continues to think that a "soft landing" is still in the cards. In fact, networking revenue was up 20% versus the year ago period and now represents 40% of revenue at the company's semiconductor segment. Elsewhere within semiconductor solutions, wireless revenues (24% of segment revenue) were flat year-over-year, as was revenue for server storage connectivity (17% of segment revenue). Broadband sales (16% of segment revenue) moderated to 1% year-over-year growth following nine-consecutive quarters of double-digit growth. Industrial sales (about 3% of segment revenue) were down 3% year-over-year.

Persons: Hock Tan, Tan, Jim Cramer's, Jim Cramer, Jim, Broadcom Lucas Jackson Organizations: Semiconductor, Broadcom, Revenue, VMWare, Club, Management, Outlook Management, CNBC

☆ AI chip giant Nvidia mentioned a particular company again and again during its latest blockbuster conference call. You'll be surprised which one.
▼ + stars: | 2023-08-24 | by ( Alistair Barr | ) www.businessinsider.com time to read: +3 min

Investors have been counting how many times executives say 'AI' on conference calls. Instead, I counted how many times Nvidia mentioned different companies on its latest call. AdvertisementAdvertisementThis year, investors have been counting how many times company executives say "AI" on earnings conference calls. Here's one example, where the CEO discussed large companies adopting new AI technologies. Amazon and Google, two of the largest cloud and AI companies on earth, only got a couple of callouts each.

Persons: That's, It's, Nvidia's, Jensen Huang Organizations: Nvidia, Morning, Tech, Sentieo, VMware, Broadcom, Google

And that $1 trillion of data centers is in the process of transitioning into accelerated computing and generative AI. Additionally, Nvidia announced AI-ready servers to support the VMware Private AI Foundation and help businesses customize and deploy generative AI applications using their proprietary data. Shares of AMD have also surged higher in this year's AI trade, though the role the company plays in the field is less clear. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Jim Cramer's, Jensen Huang, Huang, ChatGPT, Nvidia's Huang, It's, We've, Grace Hopper Superchip, it's, hyperscalers, Jim Cramer, Jim, Eduardo MunozAlvarez Organizations: Broadcom, Jim Cramer's Charitable Trust, Devices, AMD, Moore's, Microsoft, Broadcom's, VMWare, VMware, Nvidia, AI Foundation, U.S . Federal Trade Commission, Intel, Tower Semiconductor, ARM, CNBC, View, Getty Locations: China

☆ VMware, Nvidia target businesses that want their own AI
▼ + stars: | 2023-08-22 | by ( Stephen Nellis | ) www.reuters.com time to read: +2 min

3D printed clouds and figurines are seen in front of the VMware cloud service logo in this illustration taken February 8, 2022. VMware, which is close to being acquired by chip firm Broadcom Inc (AVGO.O) in a $69 billion deal, makes software that corporations use to run their privately owned data centers. On Tuesday, the company released a new set of tools help designed to manage Nvidia chips, which dominate the market for AI systems that can read and write text in human-like ways. But some VMware customers want to do that work in their own data centers when the data is sensitive. The company declined to say how it will be priced, other than saying that the cost will be based on how many Nvidia chips the customer uses the software to manage.

Persons: Dado Ruvic, Raghu Raghuram, Raghuram, Stephen Nellis, Jonathan Oatis Organizations: VMware, REUTERS, VMware Inc, Nvidia Corp, Broadcom Inc, Nvidia, Microsoft Corp, Thomson Locations: San Francisco

☆ $3.7 billion data startup Cohesity gets ready for an IPO, again, as hope rises that IPOs will return this fall
▼ + stars: | 2023-08-18 | by ( Julie Bort | ) www.businessinsider.com time to read: +4 min

Cohesity just hired a new CFO and is talking about getting ready for its IPO. Data startup Cohesity is gearing up to go public as soon as its bankers give the nod, CEO Sanjay Poonen told Insider. But when it last announced it had filed confidential IPO paperwork on December 21, 2021, its timing couldn't have been worse. Before the startup could debut, the tech IPO window was slammed shut by rising inflation and interest rates, and fears of a full-blown recession. The last splashy IPO was HashiCorp on December 9, 2021, so the window has now been closed for 20 months and counting.

Persons: Cohesity, Sanjay Poonen, IPOs, He's, it's, Poonen, Eric Brown, Srinivasan Murari, he's Organizations: Microsoft, Web Services, ARM, Electronic Arts, McAfee, Google, VMware, IBM, Cisco, Hewlett Packard Enterprise, IDC, Bloomberg Locations: Informatica

☆ $3.7 billion data startup Cohesity prepares for a public listing, again, as hope rises that IPOs will return this fall
▼ + stars: | 2023-08-18 | by ( Julie Bort | ) www.businessinsider.com time to read: +4 min

The data startup Cohesity is gearing up to go public as soon as its bankers give the nod, CEO Sanjay Poonen told Insider. But when it last announced it had filed confidential IPO paperwork, on December 21, 2021, its timing couldn't have been worse. Before the startup could debut, the tech IPO window was slammed shut by rising inflation and interest rates, as well as fears of a full-blown recession. "I can't predict the market, but, you know, if that happens, I'd say we'd be as ready as we were in 2021," Poonen said. And as the market opens up, we'll pick the right time, whether it's fall, whether it's next year," Poonen added.

Persons: Cohesity, Sanjay Poonen, IPOs, Poonen, He's, it's, Eric Brown, Srinivasan Murari, he's Organizations: Microsoft, Web Services, Electronic Arts, McAfee, Google, VMware, IBM, Cisco, Hewlett Packard Enterprise, IDC, Bloomberg Locations: Informatica

☆ This sophisticated investing strategy could be making a comeback after a blow to the FTC
▼ + stars: | 2023-08-13 | by ( Valida Pau | ) www.cnbc.com time to read: +7 min

Merger arbitrage investors have been struggling this year. Play the gap Merger arbitrage can be a tricky strategy for regular investors to incorporate. Investors can buy into the following funds for exposure to merger arbitrage: The Arbitrage Fund (ARBNX) The Merger Fund (MERIX) The NexPoint Merger Arbitrage fund (HMEAX) The First Trust Merger Arbitrage ETF (MARB) The IQ Merger Arbitrage ETF (MNA) To be sure, many of these funds charge a hefty fee. Kroger and Albertsons , the two largest biggest grocers by revenue, just notched a regulatory win after a judge dismissed a consumer lawsuit challenging the $25 billion merger. Tower Semiconductor is trading for around $34 a share such that the arbitrage spread stands at more than 50%.

Persons: Activision Blizzard, Andrew Beer, Dealmaking, John Orrico, Salvatore Bruno, VMware's, Black Knight, it's Organizations: Federal Trade Commission, Activision, FTC, Microsoft, Hedge Fund Research, Beta Investments, Global, Horizon Therapeutics, Activision Blizzard, Broadcom, VMware, Intercontinental Exchange, Black, CNBC, Kroger, Albertsons, Intel, Semiconductor Locations: Island, Water Island, British, Israel

☆ Broadcom is planning drastic job cuts at VMware as its acquisition of the cloud company nears completion
▼ + stars: | 2023-08-03 | by ( Rosalie Chan | Alistair Barr | ) www.businessinsider.com time to read: +2 min

Broadcom is planning drastic cuts of VMware's non-engineering staff, sources told Insider. Broadcom is currently preparing to close a $61 billion acquisition of VMware. Broadcom is planning deep job cuts at VMware, focusing on non-engineering jobs, according to two sources familiar with the matter. Broadcom is currently preparing to close a $61 billion acquisition of VMware. VMware employees have been expecting layoffs once the deal closes, and Broadcom leadership previously told VMware staff that it wanted to make the company "lean and flat," as Insider previously reported.

Persons: Hock Tan, Tan Organizations: Broadcom, VMware, Employees, European Union, SEC, CA Technologies Locations: Broadcom's

☆ Broadcom's $69 bln VMware deal wins provisional UK clearance
▼ + stars: | 2023-07-19 | by ( ) www.reuters.com time to read: +2 min

[1/2] 3D printed clouds and figurines are seen in front of the VMware cloud service logo in this illustration taken February 8, 2022. REUTERS/Dado Ruvic/IllustrationLONDON, July 19 (Reuters) - Britain's competition regulator provisionally cleared U.S. tech company Broadcom's (AVGO.O) $69 billion purchase of VMware (VMW.N) on Wednesday, saying the deal would not weaken competition in the supply of critical computer server products. The proposed deal has highlighted chipmaker Broadcom's aim to diversify into enterprise software, but comes as regulators worldwide ramp up scrutiny of deals by Big Tech. Broadcom welcomed the unconditional approval, saying it expects to close the deal in the current fiscal year. The $69 billion deal, consisting of $61 billion in equity and the rest in debt, is also being examined by U.S. Federal Trade Commission.

Persons: Dado Ruvic, Muvija M, Paul Sandle, William James, Jane Merriman Organizations: VMware, REUTERS, Broadcom's, Union, Broadcom, CMA, Big Tech, U.S . Federal Trade Commission, Activision, Thomson Locations: British

☆ VMware employees in end-user computing and security believe Broadcom may divest their units after it closes its $61 billion deal
▼ + stars: | 2023-05-31 | by ( Rosalie Chan | ) www.businessinsider.com time to read: +5 min

Broadcom plans to acquire VMware for $61 billion, and they're preparing to close the deal this year. Workers in end-user computing and Carbon Black security think their units could be spun out or sold. Broadcom's upcoming $61 billion acquisition of VMware has led employees in two units — end-user computing and Carbon Black security — to speculate that their units could be spun out or sold. The EUC unit builds products such as Horizon and Workspace One that allow users to access their enterprise applications from anywhere over the cloud. After Carbon Black was acquired, it was supposed to take a year or two to get integrated with VMware.

Persons: Thoma, they'd, Rob Ruelas, John Ryan, Sarah Swatman, Angus McGeachie, Chris Rottner Organizations: Broadcom, VMware, Workers, Symantec, Securities, Exchange Commission, CA Technologies, Thoma Bravo, Cyber Security Services, Accenture, HCL Technologies, EUC Employees, Carbon, Symantec's Locations: EUC, Europe, Africa

☆ VMware employees are increasingly concerned over Broadcom's pending $61 billion acquisition, predicting spinouts of business units, layoffs, and lost customers
▼ + stars: | 2023-05-26 | by ( Rosalie Chan | ) www.businessinsider.com time to read: +14 min

Broadcom and VMware announced the $61 billion deal last year and recently pushed back the deadline as it undergoes regulatory scrutiny. Insider spoke with one former and four current VMware employees about the changes they expect to face once they are owned by the chipmaker Broadcom. A VMware spokesperson said in a statement that after the deal closes, VMware customers will obtain "more choice and flexibility" in managing their IT needs, especially across multiple cloud-computing services. Executives leaving VMwareVMware has lost several key executives since the Broadcom deal was announced (including several defecting to VMware's archrival Nutanix). "Nonetheless, I've continued to see questions in press reports about whether we intend to raise prices on VMware products.

Persons: —, Sanjay Poonen, Patrick Morley, haven't, Robert Ruelas, EUC, Kit Colbert, hasn't, Zane Rowe, Tom Gillis, Mark Lohmeyer, Ajay Patel, Kal, Karen Egan, Tom Kellermann, Raghu Raghuram, Hock Tan, Colbert, Tan, Hock E, Lucas Jackson, I've Organizations: VMware, Employees, Broadcom, SEC, Carbon, Symantec, Workers, Tech, VMware hasn't, VMware Employees, VMware VMware, Nutanix, Raghuram, Reuters

☆ Broadcom offers VMware interoperability remedies to address EU concerns
▼ + stars: | 2023-05-17 | by ( Foo Yun Chee | ) www.reuters.com time to read: +2 min

BRUSSELS, May 17 (Reuters) - U.S. chipmaker Broadcom (AVGO.O) has offered interoperability remedies in an effort to address European Union antitrust concerns over its $61 billion VMware (VMW.N) bid, people familiar with the matter said. Broadcom submitted its proposal on Tuesday, a European Commission filing showed. The EU competition enforcer, which did not provide details in line with its policy, extended its deadline for a decision to July 17. Broadcom may restrict competition in some hardware components which interoperate with VMware's virtualisation software, the Commission warned the company last month as it laid out its concerns. "While we maintain that this deal does not present any competition issues, we have made a proposal to address fully the concerns expressed by the European Commission," said Broadcom.

☆ Broadcom seeks to convince EU antitrust regulators on $61 bln VMware deal
▼ + stars: | 2023-05-05 | by ( Foo Yun Chee | ) www.reuters.com time to read: +1 min

[1/2] 3D printed clouds and figurines are seen in front of the VMware cloud service logo in this illustration taken February 8, 2022. REUTERS/Dado Ruvic/IllustrationBRUSSELS, May 5 (Reuters) - U.S. chipmaker Broadcom (AVGO.O) on Friday will try to convince EU antitrust enforcers that its proposed $61 billion bid for cloud computing company VMware (VMW.N), which has triggered regulatory scrutiny on both sides of the Atlantic, is pro-competitive. Broadcom's request for the hearing came after the Commission last month warned the deal may restrict competition in the market for certain hardware components which interoperate with VMware's software. Broadcom is expected to offer remedies in the coming days after the oral hearing. The EU deadline for a decision is June 21 which will be extended once concessions are submitted.

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