Broadcom swoops for VMware in $61 billion deal

Chip and component manufacturer Broadcom has agreed to pay a whopping $61 billion a cash and stock transaction for cloud services firm VMware, and will also assume $8 billion of its net debt.
Following the transaction the firm intends to rebrand the Broadcom Software Group division as VMware, incorporating its existing infrastructure and security software portfolio into VMware’s platform. It’s being pitched as a move that will provide a larger presence and a wider set of software ser