Broadcom Inc. ( AVGO ) expanded its long-term partnership with T-Systems, a Deutsche Telekom AG (OTC:DTEGY) subsidiary. T-Systems achieves Pinnacle tier status in Broadcom’s VMware Cloud Service Provider program.

This reflects T-Systems’ expertise and strong track record in driving sales and services globally, allowing them to collaborate closely with Broadcom ( AVGO ) to help customers solve complex challenges and adopt advanced digital technologies.

Hock Tan, President and CEO of Broadcom ( AVGO ), stated, “Broadcom will continue its close collaboration with T-Systems, one of our most valued partners, to accelerate our mutual customers’ infrastructure modernization, AI adoption, and cyber resilience while also supporting their needs with sovereign cloud services that enable data residency and other jurisdictional controls.”

Also Read: Why Nvidia, AMD And Other Chipmakers Are Moving Lower In Tuesday’s Premarket

T-Systems and VMware, now Broadcom ( AVGO ), have collaborated closely for 20 years.

Ferri Abolhassan, CEO of T-Systems and board member of Deutsche Telekom ( DTEGF ), said, “The partnership with Broadcom ( AVGO ) is an important component of our multi-cloud strategy. Complemented by our Hyperscaler solutions, we can provide our customers exactly what they need. Always and worldwide.”

Last week, Broadcom ( AVGO ) announced the general availability of the BCM68660 and BCM55050 silicon 50G PON Optical Line Terminal-Optical Network devices.

Investors can gain exposure to the stock via VanEck Fabless Semiconductor ETF ( SMHX ) and Columbia Semiconductor and Technology ETF ( SEMI ) .

Price Action: AVGO shares are down 3.89% at $175.22 at the last check Tuesday.

Image via Shutterstock

Read Next:

‘Most Widely Hated’ Bull Market Reaches 2-Year Milestone: Top 20 S&P 500 Stocks Driving The Rally