Justin Sullivan/Getty Images News Broadcom (NASDAQ:AVGO) expects its $69B acquisition of VMware (NYSE:VMW) to close soon, before the expiration of their merger agreement. The companies said they have received merger clearance in Australia, Brazil, Canada, the EU, Israel, Japan, South Africa, South Korea, Taiwan, the U.K. and foreign investment control clearance in all necessary jurisdictions, … Read more
VMware started cutting jobs this week as Broadcom prepares to acquire it. Broadcom has said it expects to close the deal October 30, although China could hold it up. Previously, Insider reported that Broadcom was planning drastic job cuts for VMware. VMware has begun job cuts this week as a deadline for Broadcom’s planned acquisition … Read more
VMware Inc VMW reported a Q2 FY24 revenue increase of 2% Y/Y to $3.41 billion, missing the consensus of $3.46 billion. Subscription and SaaS revenue increased 34% Y/Y to $1.26 billion. Subscription and SaaS ARR were up 36% Y/Y to $5.31 billion. Non-GAAP operating income rose 1% Y/Y to $977 million. Non-GAAP EPS of $1.83 beat the consensus … Read more
Cloud News Mark Haranas August 21, 2023, 10:42 AM EDT Broadcom says it is now set to acquire VMware for $61 billion on Oct. 30, 2023, after the deal received the green light from UK regulators Monday.
The Broadcom-VMware deal has cleared another regulatory hurdle, making a full closing by the end of the third quarter more inevitable. Source link