Chipmaker Broadcom sells remote access unit to KKR in $4 billion deal


A smartphone with a displayed Broadcom logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration/File Photo

(Reuters) - Chipmaker Broadcom is selling its business which allows users to access desktops and applications from any device to KKR in a deal valued at about $4 billion, the private equity firm said on Monday.

The end-user computing (EUC) unit will become a standalone company and will continue to be run by its existing management team led by Shankar Iyer, KKR said in a statement.

Reuters first reported the deal on Saturday, citing sources who said KKR prevailed in the auction for the end-user computing (EUC) unit over other private equity firms including EQT.

(Reporting by Samrhitha Arunasalam in Bengaluru; Editing by Shinjini Ganguli and Devika Syamnath)

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Next In Tech News

Sending cat GIFs helps build social connections without you even realising
Google turns Internet queries into conversations
BT boss Kirkby expects AI to deepen job cuts, FT reports
Experts warn of 'frightening' risks linked to period tracker apps
Elon Musk's X sees partial recovery after outage hits US users, Downdetector shows
Ten big changes coming to iPhones and other Apple devices this year
One ChatGPT query uses same energy as a second of baking, OpenAI says
Review: ‘Mario Kart World’ proves why Nintendo needed a Switch 2
Amazon to invest $13 billion in Australia's data center infrastructure over five years
Trump reports more than $600 million in income from crypto, golf, licensing fees

Others Also Read