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Broadcom (NASDAQ: AVGO) is moving closer to selling a software business to private equity firm KKR & Co. (NYSE:KKR) for about $4 billion, Reuters and Bloomberg reported.
The deal could be announced as early as Monday, according to a Bloomberg report Saturday, citing people familiar with the matter.
The news comes after Bloomberg reported in December that EQT AB and KKR (KKR) were among PE firms interested in buying a software business sold by Broadcom (AVGO) after its purchase of VMware. PE firm Thoma Bravo is also reportedly studying a potential offering for the so-called end-user computing unit.
Business Insider first reported in late November that Broadcom (AVGO) was evaluating strategic alternatives for two business units it acquired when it bought VMware for $69 billion. The company confirmed in its December earnings call that it intended to divest its end-user computing and Carbon Black businesses.
Broadcom (AVGO) will report first-quarter results on March 7.