Overseas investment decision for case 202200422 - Barcelona Merger Sub 2, Inc. | Toitū Te Whenua

Decision	Consent granted Section 13(1)(a) Overseas Investment Act 2005
Decision maker	Toitū Te Whenua Land Information New Zealand
Decision date	10 February 2023
Pathway(s)	Significant business assets only
Investment	Acquire 100% shares in VMware, Inc
Consideration	Approximately US$61,000,000,000 (This is the consideration for the global transaction)
Applicant	Barcelona Merger Sub 2, Inc. United States of America (87.95%) United Kingdom (5.09%) Various 6.96%)
Vendor	VMware, Inc United States of America (56.20%) Various (43.80%)
Background	The Applicant is a wholly owned subsidiary of Broadcom, a multinational technology company that designs and develops software. The Vendor's group develops, manufactures, and offers IT software and related services. This is a global transaction. The New Zealand subsidiary of the Target operates contracts with customers and distributors in New Zealand and employs the Target’s employees in New Zealand. This is part of a three-step multinational merger agreement under which Broadcom will acquire all the outstanding shares of the Vendor.
More information	James Hawes Simpson Grierson (Auckland) Private Bag 92518 Auckland 1141