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14 Worcester Business Journal | Book of Lists 2022 | wbjournal.com F O C U S B A N K I N G & F I N A N C E VMware, once a subsidiary of Hopkinton-based Dell EMC, will be acquired by microchip maker Broadcom for $61 billion in fiscal 2023. VMware is a cloud computing and virtualization technology company which offers tools to allow multiple operating systems to run on the same virtualized computer. While the company is based in Palo Alto, Calif., it has major operations in Burlington and Boston. In 2004, about six years after its founding, VMware was acquired by Hopkinton tech firm EMC Corp. (now Dell EMC) for $625 million. In 2015, EMC Corp. announced it would merge with Texas-based Dell Tech- nologies in a record-breaking $67-billion deal. While VMware was initially included in EMC and Dell's merger, Dell EMC said in 2021 it would spin off its remaining stake in VMware. Dell CEO Michael Dell retained 41% of VMware's stock following the spin off, according to a report by tech magazine CRN. Dell Technologies is the largest manufacturer in Central Massachusetts with 8,800 local employees and $92.14 billion in 2020 revenue. Broadcom's acquisition of VMware represents the largest-ever takeover by a chip- maker, according to Bloomberg. Broadcom is based in San Jose, Calif. Once a key player in Central Mass., VMware will be acquired for $61B VMware Notable 2022 mergers & acquisitions Ranked by sale price, then closing date ((11)) Buyer Sale price Date closed Seller 1 M&T Bank 1 M&T Plaza, Buffalo, NY 14203 716-842-5445 • www.mtb.com $8.3 billion April 5 People's United Bank (2) Bridgeport, Conn. 2 Valmet Oyj Keilasatama 5, Espoo, Finland FI-02150 358-010-672-0000 • www.valmet.com $5 billion April 1 Neles Corp. Shrewsbury 3 Boston Scientific Corp. 300 Boston Scientific Way, Marlborough 01760 508-683-5670 • www.bostonscientific.com $2.54 billion Pending Synergy Innovation Co. Limited (3) Seongnan, South Korea 4 Boston Scientific Corp. 300 Boston Scientific Way, Marlborough 01752 508-683-5670 • www.bostonscientific.com $1.75 billion February 15 Baylis Medical Co. Inc. Saint-Laurent, Quebec, Canada 5 Hometown Financial Group Inc. (4) 36 Main St., Easthampton 01027 888-307-5887 • www.bankhometown.com $146.5 million Pending Randolph Bancorp Inc. Quincy 6 Koopman Lumber Co. Inc. 665 Church St., Whitinsville 01588 508-234-4545 • www.koopmanlumber.com DND June 28 Boilard Lumber Springfield 7 Aktion Associates Inc. 1687 Woodlands Drive, Maumee, OH 43537 419-893-7001 • www.aktion.com DND May 12 United Solutions Hopkinton 8 Nasuni 313 Boston Post Road West, Marlborough 01752 857-444-8500 • www.nasuni.com DND May 3 DBM Cloud Systems (5) Burlingame, Calif. 9 UMass Memorial Health 55 Lake Ave. North, Worcester 01655 508-334-0496 • www.ummhealth.org DND Pending Heywood Healthcare (6) Gardner 10 PCX Aerosystems 300 Fenn Road, Newington, CT 06111 860-666-2471 • www.pcxaero.com DND April 11 Honematic Machine Corp. Boylston 11 Solmetex 50 Bearfoot Road, Northborough 01532 508-393-5115 • www.solmetex.com DND April 7 Sterisil Palmer Lake, Colo. 12 Isto Biologics 45 South St., Hopkinton 01748 888-705-4786 • www.istobiologics.com DND April 6 TheraCell Inc. Los Angeles, Calif. 13 Waters Corp. 34 Maple St., Milford 01757 508-482-2000 • www.waters.com DND February 3 Megadalton Solutions (7) Bloomington, Ind. 14 B.J.'s Wholesale Club 25 Research Drive, Westborough 01581 774-512-7400 • www.bjs.com DND Pending Burris Logistics (8) Milford, Del. Source: U.S. Securities & Exchange Commission filings, press releases and news reports Note: DND=did not disclose. On May 26, 2022, VMware, once a subsidiary of Hopkinton-based Dell EMC, announced its expected acquisition by Palo Alto, Calif.-based Broadcom for $61 billion. (1) Deals announced or completed by June 30, 2022 were considered for this list. (2) With eight branches in Central Mass. (3) Sold majority stake in M.I. Tech Co. LTD for 2.91 KRW; sale price is based on IRS currency conversion rate for 2021. (4) Holding company for Oxford's bankHometown, with 11 branches in Central Mass. (5) Sale of technology assets (6) Includes Ashburnham Family Medicine in Ashburnham, Heywood Rehabilitation Center, Summit Family Medicine & Heywood Urgent Care in Gardner, Winchendon Health Center & Murdock School-based Health Center in Winchendon, Tully Family Medicine and Walk-In Care in Athol and Millers River Primary Care in Orange. The organization also includes the Heywood Healthcare Charitable Foundation. (7) Sale of Charge Detection Mass Spectrometry (CDMS) technology assets and IP (8) Sale of four perishables distribution centers and their transportation fleets -Compiled by: Stephanie R. Meagher, smeagher@nebusinessmedia.com