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this post was submitted on 23 Nov 2023
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Technology
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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.
The massive buyouts are occurring at a time of heightened anxiety because of turmoil on the global supply chain, war in Europe and the Middle East, and rising prices that have the potential to cool both business and consumer activity.
Countless businesses and public bodies, including major banks, big retailers, telecom operators and government departments, rely on Broadcom gear and VMware software.
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.
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