Broadcom to buy VMware for $61bn in record tech deal

VMWare has a significant presence in Cork where it employs about 900 people.

Broadcom agreed to buy cloud-computing company VMware Inc. for about $61bn (€56.9bn) in one of the largest technology deals of all time, turning the chipmaker into a bigger force in software.

VMware shareholders can choose to receive either cash or shares of Broadcom stock for each VMware share, according to a statement yesterday. The offer represents about a 44% premium to VMware’s closing price on May 20, the last trading day before reports of the takeover talks.