Botong's $69 billion acquisition of VMWare has been conditionally approved by China_News_ALL NEW SEMI (ANSC)

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Botong's $69 billion acquisition of VMWare has been conditionally approved by China

2023-11-23

Chip giant Broadcom announced on Tuesday that it plans to complete a $69 billion acquisition of cloud computing company VMWare on Wednesday. The merger between Broadcom and VMware is one of the largest technology industry transactions in history, and although it has been approved by the European Union, the UK, South Korea, and Japan, it still requires approval from China.

In order to pass the review, Botong submitted a legally binding additional restrictive condition commitment plan on November 20, 2023.

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According to the review decision of the State Administration for Market Regulation of China, the merged company cannot abuse its market position in several fields, including continuing to ensure the interoperability between Virui's server virtualization software and third-party related hardware products sold in the Chinese market. If the conditions are met, the transaction will be approved and the company has the right to supervise and inspect their compliance with the restrictions.

According to data, on the evening of May 26, 2022, wireless communication chip giant Broadcom officially announced that it had reached an agreement with cloud services and virtual software giant VMware to invest $61 billion to acquire VMware. At the same time, Broadcom will bear VMware's $8 billion debt.

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