Broadcom to buy CA Technologies for $18B

Business 7/11/2018, 11:30 PM
Broadcom to buy CA Technologies for $18B

Semiconductor company Broadcom Inc. agreed to buy New York-based CA Technologies, the companies announced on Wednesday. The acquisition is valued at around $18 billion. CA's shares jumped over 16% after initial reports of the deal were published.

This will be the first United States acquisition for Broadcom, which recently relocated back to the US from Singapore, since it tried to buy Qualcomm Inc. It withdrew the offer in March, after months of negotiations, following US President Donald Trump's decision to block the deal citing national security concerns.

Breaking the News / DJ

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