Chipmaker Broadcom Sells Remote-Access Unit to KKR for $4 Billion

Chipmaker Broadcom is selling a unit that allows users to access desktops and applications from any device to private-equity firm KKR in a $4-billion deal to streamline its portfolio after the $69-billion purchase of VMware last year.

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

Shares of both Broadcom and KKR were up nearly 1% in early trading.

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