Broadcom / VMware merger inquiry

The CMA investigated and cleared the anticipated acquisition by Broadcom Inc. of VMware, Inc.

• From: Competition and Markets Authority
• Published: 21 November 2022
• Last updated: 21 August 2023 — See all updates

• Case type: Mergers
• Case state: Closed
• Market sector: Electronics
• Outcome: Mergers - phase 2 clearance
• Opened: 21 November 2022
• Closed: 21 August 2023

Phase 2

Administrative timetable

Date of referral: 29 March 2023

Statutory deadline: 12 September 2023

• Administrative timetable (PDF, 98.5 KB) (13.4.23)

Contact

general.enquiries@cma.gov.uk

Final report

21 August 2023: The CMA has published its final report.

• Final report (PDF, 1,118KB) (21.8.23)
• Appendices and glossary (PDF, 308KB) (21.8.23)
• Summary of final report (PDF, 212KB) (21.8.23)
• Press release: CMA clears Broadcom’s deal to buy VMware (21.8.23)

Responses to provisional findings

• Parties’ joint response to provisional findings (PDF, 144 KB) (3.8.23)

Provisional findings

19 July 2023: The CMA has provisionally cleared the anticipated acquisition by Broadcom Inc. of VMware, Inc.

The deadline for submitting responses to the provisional findings is 5pm on Wednesday 9 August 2023.

• Provisional findings (PDF 1,098KB) (19.7.23)
• Appendices and glossary (PDF 300KB) (19.7.23)
• Summary of provisional findings (PDF 191KB) (19.7.23)
• Notice of provisional findings (PDF 121KB) (19.7.23)
• Press release: CMA provisionally clears $69 billion technology deal (19.7.23)

Responses to the issues statement

• Parties’ joint response to issues statement (PDF, 779KB) (12.7.23)

Interim undertakings

• Notice of acceptance of interim undertakings (PDF, 199KB) (19.5.23)

Amendments / consents granted

• Derogation 5 July 2023 (PDF, 132KB) (25.7.23)
• Derogation 24 May 2023 (PDF, 95KB) (6.6.23)

Issues statement

21 April 2023: The issues statement sets out the scope of the inquiry. It outlines initial theories on what might be adversely affecting competition, but it does not set out findings or conclusions. The deadline for submissions on the issues statement is 11am BST, 9 May 2023.

• Issues statement (PDF, 208KB) (21.4.23)

Inquiry group appointed

29 March 2023: The CMA has appointed the Inquiry Group:

Richard Feasey (Chair), Colleen Keck, Jeremy Newman, and Crispin Wright.

Terms of reference

29 March 2023: The CMA has referred the anticipated acquisition by Broadcom Inc. of VMware, Inc. for an in-depth investigation.

• Terms of reference (PDF, 107KB) (29.3.23)

Phase 1

Statutory timetable

Date	Action
22 March 2023	Decision announced
25 January 2023	Launch of merger inquiry
21 November 2022 to 6 December 2022	Invitation to comment

Reference decision

29 March 2023: The CMA has referred the anticipated acquisition by Broadcom Inc. of VMware, Inc. for an in-depth investigation, on the basis that, on the information currently available to it, it is or may be the case that this Merger may be expected to result in a substantial lessening of competition within a market or markets in the United Kingdom.

• Decision to refer (PDF, 113 KB) (29.3.23)

Reference unless undertakings accepted

22 March 2023: The CMA has decided, on the evidence currently available to it, that it is or may be the case that this merger may be expected to result in a substantial lessening of competition within a market or markets in the United Kingdom. This merger will be referred for an in-depth, Phase 2 investigation unless the parties offer an acceptable undertaking to address these competition concerns.

• Full text decision (PDF, 1,173KB) (5.5.23)
• Summary of Phase 1 Decision (PDF, 136KB) (22.3.23)
• Press release: Tech deal could make computer servers more expensive for UK businesses

Launch of merger inquiry

25 January 2023: The CMA announced the launch of its merger inquiry by notice to the parties.

• Commencement notice (PDF, 93 KB) (25.1.23)

Invitation to comment: closed 6 December 2022

21 November 2022: The Competition and Markets Authority (CMA) is considering whether it is or may be the case that this transaction, if carried into effect, will result in the creation of a relevant merger situation under the merger provisions of the Enterprise Act 2002 and, if so, whether the creation of that situation may be expected to result in a substantial lessening of competition within any market or markets in the United Kingdom for goods or services.

To assist it with this assessment, the CMA invites comments on the transaction from any interested party.

Written representations about any competition issues should be provided by the deadline set out above.

Contact

Please send written representations about any competition or public interest to: general.enquiries@cma.gov.uk

Published 21 November 2022
Last updated 21 August 2023 + show all updates

1. 21 August 2023

   Final report, appendices and glossary published

2. 21 August 2023

   Summary of final report published

3. 3 August 2023

   Responses to provisional findings published.

4. 25 July 2023

   Derogation published.

5. 19 July 2023

   Provisional findings, glossary and appendices published.

6. 19 July 2023

   Notice of provisional findings and summary of provisional findings published.

7. 12 July 2023

   Responses to the issues statement published

8. 6 June 2023

   Derogation published.

9. 19 May 2023

   Notice of acceptance of interim undertakings published

10. 5 May 2023

    Phase 1 full text decision published.

11. 21 April 2023

    Issues statement published.

12. 13 April 2023

    Administrative timetable published.

13. 29 March 2023

    Decision to refer to a Phase 2 investigation and Terms of reference published. 

14. 22 March 2023

    Phase 1 decision summary published

15. 25 January 2023

    Launch of merger inquiry, with commencement notice, published.

16. 21 November 2022

    First published.