(Bloomberg) — KKR & Co. is closing in on a deal worth about $4 billion to buy the software business from Broadcom Inc., according to people familiar with the matter.
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The acquisition could be announced as early as Monday, said the people, who spoke on condition of anonymity because details were not released.
Broadcom is selling its so-called end-user computing unit, which it inherited as part of its $61 billion acquisition of software maker VMware Inc. 2023 The business provides software that allows users to remotely access desktop computers and applications.
A KKR representative declined to comment. Broadcom did not immediately respond to a request for comment. Reuters reported that the companies had previously come close to a deal.
EQT AB and Thoma Bravo were also among the private equity firms interested in acquiring the Broadcom unit, Bloomberg News previously reported.
San Jose-based Broadcom has outlined plans to sell other VMware assets it considers non-core. Another is a security software business called Carbon Black, which Bloomberg News reported could be valued at about $1 billion, including debt.
Broadcom completed its acquisition of VMware in November after an unexpectedly long 18-month process that culminated in regulatory approval from China. Broadcom Chief Executive Officer Hock Tan will use the deal to build a bigger foothold in so-called hybrid cloud services, which serve companies that store data in their own facilities and outside of server farms.
(Updates with previous leads in the fifth paragraph)
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