Thursday, 15 November, 2018

Broadcom agrees to buy CA Technologies for $19 billion

Broadcom agrees to buy CA Technologies for $18.9 billion Broadcom agrees to buy CA Technologies for $19 billion
Jean Garcia | 13 July, 2018, 04:40

Broadcom Inc. shares fell almost 14% on Thursday, showing the challenge Chief Executive Hock Tan faces in persuading investors that his $18.9 billion purchase of the software company CA Technologies makes sense for the chip giant.

White House officials moved to thwart that deal in March, citing national security concerns. The administration said it was anxious that Broadcom, which was based in Singapore at the time, would hamper efforts to develop next-generation wireless technology.

Broadcom, which was headquartered in Singapore at the time, stated it was planning to relocate to the U.S.in order to allay those national security fears.

If the deal clears every hurdle and goes through, the $108 billion semiconductor company will pay $44.50 a share for CA in a deal that could go public on Wednesday, the companies say.

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Hock Tan, the president and CEO of Broadcom, said that the combination of CA and Broadcom would create "one of the world's leading infrastructure technology companies".

Shares of New York-based CA jumped 15 percent in extended trading on reports of the potential deal.

"With its sizeable installed base of customers, CA is uniquely positioned across the growing and fragmented infrastructure software market, and its mainframe and enterprise software franchises will add to our portfolio of mission critical technology businesses". Unlike many online publications, we don't have a paywall or run banner advertising, because we want to keep our journalism open, without influence or the need to chase traffic.

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