Broadcom Closes VMware Deal After 18-Month Saga Ending in China

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To help finance the deal, Broadcom borrowed the full $28.4 billion available under a credit agreement previously reported in August

(Bloomberg) — Broadcom Inc. completed its takeover of software maker VMware Inc. following an unexpectedly long 18-month process that culminated in the deal getting approval in China.

The transaction, worth $61 billion when it was announced in May 2022, pushes the chipmaker deeper into software. Broadcom Chief Executive Officer Hock Tan is using the deal to build a bigger foothold in so-called hybrid cloud services, which cater to businesses that store data both in their own facilities and outside server farms.