One of the biggest tech deals of all time was announced on Thursday, when chipmaker Broadcom said it would buy software firm VMware for over $60 billion.
Michael Dell has a large stake in the company.
The company said that it will buy VMware in a cash-and-stock deal.
The boards of both companies have approved the terms of the deal, which will see the shareholders of both companies receive either $142.50 in cash or 0.2520 Broadcom common stock for each VMware share they hold.
The company said that it will assume the debt of the company.
The purchase will allow it to expand in cloud computing and business software.
The deal is expected to be approved by regulators and VMware shareholders.
Michael Dell could make a lot of money from the deal. Forbes estimates that Dell has a net worth of $53.4 billion.
The announcement confirms that there was a deal that broke over the weekend. The acquisition is in line with the growth strategy of the company and it has a history of building itself through major deals. It would be one of the largest tech acquisitions in history, though it does not eclipse Microsoft's $68.7 billion deal for gamemaker. The deal would make Broadcom a force in software and cloud computing, where it is a major player.
Microsoft will be the 3rd largest gaming company.
The History of Big-Ticket M&A would be added by a VMware mega- deal.
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