Sunday, 15 September, 2019

Broadcom agrees to buy CA

Broadcom Reports Quarterly Earnings Broadcom has offered $19 billion to acquire software maker CA Technologies. Justin Sullivan Getty Images
Rhonda Young | 15 July, 2018, 04:57

By purchasing the US -based company, Singapore-based Broadcom will gain a wider reach in the USA technology field and diversify its market share by expanding its role in the cloud-based software CA Technologies is known to specialize in.

In an editorial for Bloomberg, reporters Shira Ovide and Brooke Sutherland called the deal "a huge blow to Broadcom's reputation as a serial and savvy corporate acquirer" - and this after its reputation was already famously battered by the USA government halting Broadcom's attempted takeover of rival Qualcomm in March.

Under the terms of agreement, Broadcom will pay 44.50 dollars per share, about 20 percent higher than the closing price for CA's shares Wednesday. BMC was reportedly in talks to merge with CA last year, then was scooped up by private equity group KKR earlier this year for a price reported at $8.3 billion.

Joele Frank, Steve Frankel and Andi Rose are working the deal. 198,376 shares or 0.33% more from 197,722 shares in 2017Q4 were reported. The Wall Street analysts are criticizing the Broadcom's plan to buy CA Technologies saying it will disturb the chipmaker's strategic focus.

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The all-cash acquisition will be financed by Broadcom's cash in hand as well as $18 billion debt to be issued.

The disparate corners of the technology market the two companies occupy mean that Broadcom will benefit primarily from CA's recurring revenue, rather than operational synergies.

Hock Tan, CEO of Broadcom, speaks on the floor of the New York Stock Exchange shortly before the opening bell in New York, U.S., February 12, 2018.

Broadcom declared that its board has initiated a stock repurchase program on Thursday, April 12th that permits the company to buyback $12.00 billion in shares.

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Avago Technologies Ltd agreed to buy Broadcom Corp for $37 billion in the largest merger of chipmakers ever, turning a lesser known company run by a ferocious dealmaker into one of the biggest industry players. Broadcom's chips power smartphones, computers and the like, whereas CA specializes in software and they had been looking to expand their business. During the same period last year, the firm posted $3.69 earnings per share. equities research analysts forecast that Broadcom will post 17.48 EPS for the current fiscal year.

More notable recent Broadcom Inc. In any case, it should be noted that the deal still needs to be approved by government authorities in the US, Europe, and Japan.

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.

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