Broadcom acquired VMware in 2023 in a transaction valued at approximately $69 billion.
The deal combined Broadcom’s semiconductor and infrastructure-software operations with VMware’s virtualization and private-cloud technology. Broadcom completed the acquisition on November 22, 2023, after receiving regulatory approvals in several jurisdictions.
Broadcom was founded in 1961 as HP Associates, a semiconductor-related division of Hewlett-Packard. The modern Broadcom corporate structure emerged through a series of acquisitions and reorganizations, including the purchase of Broadcom Corporation by Avago Technologies in 2016. The combined company adopted the Broadcom name.
The acquisition is often confused with Broadcom’s earlier attempt to buy Qualcomm, which Qualcomm rejected in 2018. Broadcom’s stock trades on the Nasdaq under AVGO, and its products are used in networking, broadband, wireless communications, storage, and data-center systems.