Broadcom successfully acquires virtualization and cloud infrastructure specialist, VMware, in a colossal $69 billion deal.

Computer chipmaker Broadcom has successfully completed its acquisition of cloud computing firm VMware for $69 billion. The deal, one of the largest in the technology industry, faced scrutiny from regulators worldwide, particularly due to concerns over US-China tensions. However, following a meeting between Presidents Joe Biden and Xi Jinping at the recent Apec summit in the US, the acquisition was granted approval. Broadcom, based in California, designs and supplies semiconductor chips, as well as offering infrastructure software solutions. VMware, also an American company, develops virtualization software. Together, the companies aim to create private and hybrid cloud environments that allow users to run applications anywhere. Legal merger clearances have been obtained from multiple countries, and VMware shares will cease trading on the New York Stock Exchange. The acquisition marks another chapter in the ongoing tensions between the US and China, with Broadcom previously facing obstacles in a 2017 takeover deal. The company eventually relocated to the US from Singapore.