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 2. Broadcom Completes Acquisition of VMware


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Broadcom Completes Acquisition of VMware
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SAN JOSE, Calif., Nov. 22, 2023 /PRNewswire/ -- Broadcom Inc. (NASDAQ: AVGO), a
global technology leader that designs, develops, and supplies semiconductor and
infrastructure software solutions, today announced that it has completed its
acquisition of VMware, Inc. VMware's common stock will now cease to be traded on
the New York Stock Exchange (NYSE).

Hock Tan, President and Chief Executive Officer of Broadcom, said, "We are
excited to welcome VMware to Broadcom and bring together our engineering-first,
innovation-centric teams as we take another important step forward in building
the world's leading infrastructure technology company. With a shared focus on
customer success, together we are well positioned to enable global enterprises
to embrace private and hybrid cloud environments, making them more secure and
resilient. Broadcom has a long track record of investing in the businesses we
acquire to drive sustainable growth, and that will continue with VMware for the
benefit of the stakeholders we serve."

Broadcom's focus moving forward is to enable enterprise customers to create and
modernize their private and hybrid cloud environments. At the core, Broadcom
will invest in VMware Cloud Foundation, the software stack that serves as the
foundation of private and hybrid clouds. Incremental to Broadcom's investment in
VMware Cloud Foundation, VMware will offer a rich catalog of services to
modernize and optimize cloud and edge environments, including VMware Tanzu to
help accelerate deployment of applications, as well as Application Networking
(Load Balancing) and Advanced Security services, and VMware Software-Defined
Edge for Telco and enterprise edges.

VMware Stockholder Election Results

In connection with the acquisition of VMware, Broadcom previously announced the
results of the merger consideration elections made by VMware stockholders of
record in its press release dated October 30, 2023.

About Broadcom

Broadcom Inc. (NASDAQ: AVGO) is a global technology leader that designs,
develops, and supplies a broad range of semiconductor, enterprise software and
security solutions. Broadcom's category-leading product portfolio serves
critical markets including cloud, data center, networking, broadband, wireless,
storage, industrial, and enterprise software. Our solutions include service
provider and enterprise networking and storage, mobile device and broadband
connectivity, mainframe, cybersecurity, and private and hybrid cloud
infrastructure. Broadcom is a Delaware corporation headquartered in San Jose,
CA. For more information, go to www.broadcom.com.

Cautionary Statement Regarding Forward-Looking Statements

This communication relates to Broadcom's acquisition of VMware and includes
forward-looking statements within the meaning of Section 21E of the U.S.
Securities Exchange Act of 1934, as amended, and Section 27A of the U.S.
Securities Act of 1933, as amended. These forward-looking statements include but
are not limited to statements that relate to our expected future business and
financial performance, the anticipated benefits of the transaction, the
anticipated impact of the transaction on the combined business, and the expected
synergies from the transaction. These forward-looking statements are identified
by words such as "will," "expect," "believe," "anticipate," "estimate,"
"should," "intend," "plan," "potential," "predict," "project," "aim," and
similar words or phrases. These forward-looking statements are based on current
expectations and beliefs of Broadcom management and current market trends and
conditions.

These forward-looking statements involve risks and uncertainties that are
outside Broadcom's control and may cause actual results to differ materially
from those contained in forward-looking statements, including but not limited
to: our ability to maintain relationships with customers, suppliers and other
business partners; the effect of the transaction on our operating results and
business; our ability to implement plans, achieve forecasts and meet other
expectations with respect to the combined business and realize expected
synergies; unexpected costs, charges and expenses; our ability to successfully
integrate VMware's operations; difficulties in retaining and hiring key
personnel and employees due to the transaction and business combination; the
diversion of management time on integration; significant indebtedness, including
indebtedness incurred in connection with the transaction, and the need to
generate sufficient cash flows to service and repay such debt; the disruption of
current plans and operations; cyber-attacks, information security and data
privacy; global political and economic conditions, including cyclicality in the
semiconductor industry and in our other target markets, rising interest rates,
the impact of inflation and challenges in manufacturing and the global supply
chain; the impact of public health crises, such as pandemics (including
COVID-19) and epidemics and any related company or government policies and
actions to protect the health and safety of individuals or government policies
or actions to maintain the functioning of national or global economies and
markets; and events and trends on a national, regional and global scale,
including those of a political, economic, business, competitive and regulatory
nature.

Our filings with the Securities and Exchange Commission, which you may obtain
for free at its website at http://www.sec.gov, discuss some of the important
risk factors that may affect our business, results of operations and financial
condition. Actual results may vary from the estimates provided. We undertake no
intent or obligation to publicly update or revise any of the estimates and other
forward-looking statements made in this announcement, whether as a result of new
information, future events or otherwise, except as required by law.

Contacts:

Broadcom Inc.
Ji Yoo
Investor Relations
408-433-8000
investor.relations@broadcom.com

Joele Frank / Arielle Rothstein / Tim Ragones
Joele Frank, Wilkinson Brimmer Katcher
212-355-4449

(AVGO-Q)

 

View original
content:https://www.prnewswire.com/news-releases/broadcom-completes-acquisition-of-vmware-301995900.html

SOURCE Broadcom Inc.


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