Broadcom acquired cloud-software maker VMware in 2023 in a deal valued at about $69 billion.
The transaction closed on November 22, 2023, after regulatory review in several jurisdictions. Broadcom paid with a combination of cash and stock and said the acquisition would expand its infrastructure-software business. VMware is known especially for virtualization technology, which allows one physical computer system to run multiple virtual machines.
Broadcom began as a semiconductor company and has expanded through major acquisitions. Its earlier purchases included network and storage technology businesses, while VMware gave it a large enterprise-software operation. The company also acquired CA Technologies in 2018 and Symantec's enterprise-security business in 2019.
Broadcom should not be confused with Broadcom Corporation, the earlier company acquired by Avago Technologies in 2016. Avago adopted the Broadcom name after that deal, creating the modern Broadcom Inc. Investors value the company across both semiconductor and infrastructure-software activities.