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
Featured News
European Music Streaming Firms Rally Against Apple’s Proposed Remedies
May 9, 2024 by
CPI
Google and South Carolina Clash Over State Records Demand
May 8, 2024 by
CPI
Telefonica Germany Teams Up with Amazon Web Services to Migrate 5G Customers
May 8, 2024 by
CPI
Federal Judge Grants $7.4 Million Settlement in Pork Price-Fixing Case
May 8, 2024 by
CPI
Wilson Sonsini Bolsters Antitrust and Competition Practice with Key Partner Returns
May 8, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Ecosystems
May 9, 2024 by
CPI
Mapping Antitrust onto Digital Ecosystems
May 9, 2024 by
CPI
Ecosystems and Competition Law: A Law and Political Economy Approach
May 9, 2024 by
CPI
Ecosystem Theories of Harm: What is Beyond the Buzzword?
May 9, 2024 by
CPI
Open Ecosystems: Benefits, Challenges, and Implications for Antitrust
May 9, 2024 by
CPI