Chipmaker Broadcom is on the verge of sealing a deal worth $3.8 billion to offload its end-user computing (EUC) business to private equity firm KKR (KKR.N), according to sources familiar with the matter.
The potential agreement signifies Broadcom’s CEO Hock Tan’s endeavor to focus the company’s resources following its monumental $69 billion acquisition of software giant VMware in November.
Reports suggest that KKR emerged victorious in the bidding war for Broadcom’s EUC unit, triumphing over other prominent private equity contenders, including EQT.
Related: Broadcom Offers Antitrust Remedies To EU In VMware Merger Probe
Sources close to the negotiations have hinted that the deal could be officially announced as early as Monday. However, they have chosen to remain anonymous due to the confidential nature of the discussions.
When approached for comment, KKR refrained from making any statements, maintaining a stance of confidentiality. Similarly, requests for comments from Broadcom and EQT went unanswered at the time of reporting.
Broadcom had previously signaled its intention to divest its end-user computing unit back in December. Additionally, the company is concurrently exploring options to offload VMware’s security software business, Carbon Black.
Source: Reuters
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