CA Technologies shareholders will receive $44.50 a share under the terms of the agreement, which both companies' boards have approved.
The price is roughly 20% above CA Technologies closing price Wednesday.
The move comes after the Trump administration blocked Broadcom's bid to acquire Qualcomm (QCOM) earlier this year on the basis of national security concerns.
Broadcom is also a key supplier of chips used in Apple (AAPL) iPhones.
Hock Tan, president and CEO of Broadcom, said, "This transaction represents an important building block as we create one of the world's leading infrastructure technology companies."