Broadcom announces completion of Weirui acquisition and will strengthen its layout of private and hybrid cloud services

CTOnews.com, November 23 (Xinhua)-- Broadcom issued a statement on November 22 local time announcing the completion of its $69 billion (currently about 494.04 billion yuan) acquisition of VMWare, whose common shares will stop trading on the New York Stock Exchange.

Chen Fuyang, president and CEO of Broadcom, said he hoped the deal would strengthen the layout of hybrid cloud services. "the merger of Weirui into Broadcom will help global companies embrace private and hybrid cloud environments, making them safer and more resilient".

Broadcom received conditional approval from China's State Administration of Market Supervision and Administration on Tuesday. According to the review decision of China's State Administration of Market Supervision and Administration, the merged company cannot abuse its market position in several areas. this includes continuing to ensure the interoperability of Weirui's server virtualization software with third-party related hardware products sold in the domestic market in China.

Broadcom announced its intention to buy VMWare in May 2022 at a price of $142.50 per share, totaling about $61 billion (CTOnews.com Note: currently about 436.76 billion yuan). In addition, Broadcom will assume $8 billion of VMware's net debt (currently about 57.28 billion yuan).