Broadcom Inc. Annual Report - How They Did This Year

This year, Broadcom made some significant moves to grow its business through key acquisitions.

Major Changes & Acquisitions:

• Broadcom completed its acquisition of VMware on November 22, 2023. This brought in a major player in cloud computing and virtualization software, significantly expanding Broadcom's reach in the infrastructure software market. This acquisition also involved various intangible assets like developed technology, customer contracts, and trademarks, and a focus on "in-process research and development" (IPR&D) for future VMware Cloud Foundation releases, indicating plans for new product innovations.
• The company also acquired Seagate's System-on-a-Chip (SoC) business on April 23, 2024. This move strengthens Broadcom's semiconductor solutions, particularly in areas related to data storage and processing, and also included customer contracts and developed technology rights.

Key Takeaways: Broadcom's strategy this year focused on significant growth through strategic acquisitions, expanding its presence in both infrastructure software with VMware and strengthening its semiconductor offerings with Seagate's SoC business.