Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

VMware Jumps on Reports of Broadcom Talks

Published 05/23/2022, 10:01 AM
Updated 05/23/2022, 10:04 AM

By Sam Boughedda

Investing.com -- Shares of VMware, Inc. (NYSE:VMW) are up 19% in early Monday trading after multiple reports stated semiconductor giant Broadcom Inc. (NASDAQ:AVGO) is in talks to acquire the company.

Bloomberg first reported the news, citing a person familiar with the matter. They stated that a deal is not yet final.

Cloud computing and virtualization technology company VMware was spun off from Dell Technologies (NYSE:DELL) in November, with the company saying the spin-off provided it with "increased freedom to execute its multi-cloud strategy, a simplified capital structure, and governance model, and additional operational and financial flexibility."

Broadcom has made a number of acquisitions under Chief Executive Officer Hock Tan, building a significantly diversified semiconductor chip company.

Bloomberg stated that software has been a key focus for Broadcom in recent years, with the company acquiring CA Technologies in 2018 and attempting to buy semiconductor software firm Qualcomm (NASDAQ:QCOM) in 2018 before President Trump blocked the deal.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.