The European Union has cleared Broadcom for its plan to acquire CA Technologies.
Broadcom said it expects the $19bn deal will be completed by November 5, as EU’s clearance was the last regulatory roadblock.
The deal was initially signed in early July this year. Under the agreement, CA's shareholders will be getting $44.50 per share, in cash.
“This transaction represents an important building block as we create one of the world's leading infrastructure technology companies,” commented Hock Tan, President and Chief Executive Officer of Broadcom.
“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. We intend to continue to strengthen these franchises to meet the growing demand for infrastructure software solutions."
Before buying CA Technologies, Broadcom was interested in buying Qualcomm, however the deal was never completed as Qualcomm argued the chipmaker did not make a decent enough offer.
The negotiations officially broke down in March this year, with Broadcom saying it was ‘disappointed’.
Image Credit: Broadcom