Broadcom buys VMware for $61B

Computer chip and software maker Broadcom, on Thursday, May 26, 2022, will spend about $61 billion to acquire the cloud technology company VMware, one of the biggest deals of the year, with Dell Technologies Inc. spinning off its 81% equity stake in the company only about 6 months ago. Michael Dell is still VMware’s chairman and he owns 40.2% of the company’s outstanding shares.

The boards of both California companies have approved the deal, which is expected to be completed in Broadcom’s fiscal year 2023. It still needs approval from VMware shareholders.

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