Broadcom Inc. (AVGO) - Get Report said late Wednesday it is acquiring CA Technologies (CA) - Get Report for $18.9 billion in cash.

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) - Get Report earlier this year on the basis of national security concerns.

Broadcom is also a key supplier of chips used in Apple (AAPL) - Get Report 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."

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