Broadcom Inc. (AVGO) said late Wednesday it is acquiring CA Technologies (CA) 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) 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."

Apple is a holding in Jim Cramer's Action Alerts PLUS member club. Want to be alerted before Jim Cramer buys or sells AAPL? Learn more now.

More from Technology

Apple Banking on Software and Services as Next Cash Cow as iPhone Sales Slow

Apple Banking on Software and Services as Next Cash Cow as iPhone Sales Slow

Why All 5 FAANG Stocks Are Destined to Stay Hot for the Rest of 2018

Why All 5 FAANG Stocks Are Destined to Stay Hot for the Rest of 2018

Goldman Sachs Really Doesn't Like Apple's Stock

Goldman Sachs Really Doesn't Like Apple's Stock

Buy These 3 Killer Tech Stocks, Says Wall Street's #1 Analyst

Buy These 3 Killer Tech Stocks, Says Wall Street's #1 Analyst

Elon Musk, Tesla's Rockstar CEO, Is Starting to Lose His Groupies

Elon Musk, Tesla's Rockstar CEO, Is Starting to Lose His Groupies