Broadcom, a global technology leader in designing, developing, and supplying semiconductor and infrastructure software solutions, has come under fire over its $61 billion pending acquisition of cloud computing company VMware, which has attracted the attention of EU antitrust regulators. Furthermore, Chief Executive Officer Hock Tan has faced concerns about the future of VMware’s products and whether his company plans a price hike, which he denies. While VMware customers are concerned, Tan promises nothing but positive outcomes as far as innovation is concerned, hoping to assuage their fears.
According to the CEO, Broadcom boasts both the scale and capacity to pursue innovation in R&D while building on VMware’s current talent by attracting top engineers to the company. Tan claims his company also plans to invest in its acquisition’s “broad portfolio, including multi-cloud and cloud-native capabilities.” He hopes to leverage his company’s positive track record of creating consistent value to serve clients of all sizes.
While the European regulatory questions still loom, Broadcom’s acquisition of VMware is expected to close by the end of the company’s current fiscal year in October 2023. As the architect of the deal, CEO Tan is determined to prove his detractors wrong.