Broadcom inks software and services deal with Lloyds Banking Group

Broadcom has signed a multi-year software and professional services deal with Lloyds Banking Group, the largest bank in the UK.
The financial terms of the contract were not disclosed.
Two years ago, Broadcom paid nearly $70 billion to acquire data center software vendor VMware. Its new contract with Lloyds focuses on a product suite called VMware Cloud Foundation that it obtained through the deal. The bundle includes software tools for managing data center compute, storage and networking infrastructure.
Lloyds will use VMware Cloud Foundation to power an internal initiative focused on reducing the number of data centers it operates. Broadcom will support the effort by providing professional services and training to the bank’s engineering teams.
The contract also encompasses mainframe software. A few years before the VMware acquisition, Broadcom bought a developer of mainframe applications called CA Technologies. The deal bought it more than a dozen software products. CA Technologies’ applications can be used to manage user access to sensitive mainframe data, run analytics workloads and perform a range of other tasks.
Before the VMware and CA Technologies deals, Broadcom generated practically all its revenue from semiconductors. Chips continue to account for over half the company’s sales. Its semiconductor business includes a consulting unit that helps clients develop custom processors. One of the unit’s highest profile clients is Google, which partnered with Broadcom to develop the custom AI accelerators that power its public cloud.
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