Press release from the Competition Council regarding the economic concentration project concerning the exclusive takeover by the company “Modena Intermediate LLC” of the “End User Computing” Division of the company “VMware LLC”

In accordance with the provisions of Article 13 of Law No. 104-12 on freedom of prices and competition and Article 10 of Decree No. 2-14-652 adopted for its implementation as amended and supplemented, the Competition Council makes available to the public the “operation summary” below, containing the information provided by the parties.

This information was prepared by the notifying party, which is solely responsible. Inaccurate or distorted information contained therein does not in any way prejudge the Competition Council’s position on the proposed operation.

The publication of this press release does not attest to the completeness of the file provided for in Article 9 of Decree No. 2-14-652 adopted for the implementation of Law No. 104-12 on freedom of prices and competition as amended and supplemented.

Names of companies and individuals involved:

• The direct acquirer: “Modena Intermediate LLC”;
• The indirect acquirer: “KKR & Co. Inc”;
• The target: “VMware LLC”.

Nature of the operation:

• Exclusive takeover.

Economic sector concerned:

• The market for Unified Endpoint Management (UEM) and Virtual Client Computing (VCC) software.

Deadline for interested third parties to submit their observations:

• 10 days from the date of publication of this press release, i.e. April 15, 2024.

NON-CONFIDENTIAL SUMMARY OF THE OPERATION PROVIDED BY THE PARTIES

The Competition Council received notification of an economic concentration project concerning the acquisition by the company “Modena Intermediate LLC,” an acquisition vehicle indirectly owned 100% by investment funds, vehicles, and/or accounts advised and managed by various subsidiaries of “KKR & Co. Inc.” (with its subsidiaries, “KKR”) of the “End User Computing (EUC)” Division of the company “VMware LLC”.

“KKR” is an international investment company that offers alternative asset management solutions, as well as solutions in capital markets and insurance. “KKR” oversees investment funds that invest in private equity, credit, and real assets and has strategic partners managing hedge funds.

The “End User Computing” (EUC) Division of the company “VMware LLC” offers a range of digital workspace solutions that enable businesses to securely deliver and manage applications, desktops, and data on any device or platform.

Done in Rabat on April 4, 2024.