Review of Broadcom Inc. Acquisition of VMware Inc.

In a high-profile tech merger with international reach, semiconductor manufacturer Broadcom proposed to acquire virtualization and cloud computing company VMware. Analysis Group supported Broadcom during regulatory review of the approximately $69 billion deal, which attracted scrutiny from competition enforcement authorities in a number of jurisdictions.

An Analysis Group team led by Managing Principal Rebecca Kirk Fair, Vice President Nicholas Van Niel, and Manager Yunus Cem Yilmaz provided economic analysis to assess regulators’ concerns that the merger would reduce competition in the enterprise virtualization and cloud computing markets. Analysis Group supported a technology strategy expert in the implementation of a survey across thousands of global respondents to understand potential consumer behavior under a variety of business strategies of interest to competition authorities. The merger was approved in all jurisdictions.