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Broadcom (NASDAQ:AVGO) is nearing a sale of a software business to private equity firm KKR & Co. (NYSE:KKR) for about $4 billion, according to reports from Reuters and Bloomberg.
The deal could be announced as soon as Monday, according to a Bloomberg report on Saturday, which cited 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 purchasing a software business being sold by Broadcom (AVGO) after its purchase of VMware. PE firm Thoma Bravo was also said to be studying a potential offer 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 purchased VMware for $69 billion. The company confirmed on its earnings call in December that it planned to divest the end-user computing and Carbon Black businesses.
Broadcom (AVGO) is set to report its Q1 results on March 7.