“Keeping dependencies up to date is one of the most effective ways to reduce technical debt and avoid software vulnerabilities, especially as most companies rely heavily on external dependencies. Mend Renovate Enterprise Edition offers a commercially supported version of Renovate built with the power to help developers handle enterprise-scale needs”, said Rhys Arkins, vice president of product at Mend.io.

Renovate plays a crucial role in safeguarding the security and up-to-date status of applications. It achieves this by conducting comprehensive scans of software to detect external dependencies and automating the process of updating them to the latest versions.

Mend.io has pointed out that, although the free Renovate Community Edition and Renovate CLI are effective for smaller development setups, they may lead to delays for enterprises managing a significant number of repositories. To address this challenge, the Renovate Enterprise Edition steps in with a solution. It offers the advantage of unlimited horizontal scalability for server resources, allowing organizations to seamlessly manage numerous repositories simultaneously and ensuring developers experience optimal responsiveness.

The Mend Renovate Enterprise offers a wide array of advantages, such as automated dependency updates, enhanced interactivity, decreased technical debt, improved code quality, and more.

Both Mend Renovate Enterprise Edition and Mend Renovate Community Edition are self-hosted container-based applications, granting organizations the control they need to meet stringent internal security requirements.

Both editions are equipped with a job scheduler and webhooks. The job scheduler automates Renovate processes, while webhooks trigger Renovate tasks in response to critical events, such as package file updates or pull request merges.

Mend ensures that Renovate Enterprise consistently integrates the latest features of the open-source Renovate CLI, ensuring a stable and up-to-date version while maintaining reliability.

vFunction CMM enables software architects to detect and troubleshoot application architecture anomalies, define architectural baselines, and set thresholds. The vFunction CMM joins the vFunction Assessment Hub and vFunction Modernization Hub as the company’s newest application modernization platform products.

“Application architects today lack the architectural observability, visibility, and tooling to understand, track, and manage architectural technical debt as it develops and grows over time,”

said Moti Rafalin, Founder and CEO, vFunction.

“vFunction Continuous Modernization Manager allows architects to shift left into the ongoing software development lifecycle from an architectural perspective to manage, monitor, and fix application architecture anomalies on an iterative, continuous basis before they erupt into bigger problems”

he continued.

The latest version of the vFunction Modernization Hub also adds collaboration capabilities to make it easier for architects and modernization teams to work together. New analytics also identify the highest technical debt classes to focus refactoring priorities. The vFunction Assessment Hub has added a new multi-application assessment dashboard to analyze technical debt across a broad portfolio of applications.

“We are excited to be working with vFunction to monitor our applications to detect and fix issues before they result in more serious consequences. A key part of a strategic modernization strategy is to not only transform current monoliths but prevent future monoliths from forming”,

said Martin Lavigne, R&D Lead, Trend Micro.

vFunction Continuous Modernization Manager observes Java and .NET applications and services to first baseline the architecture, set baselines, and monitor for architectural drift and erosion to detect critical architectural anomalies including:

–New Dead Code Found: vFunction will detect new dead code in applications indicating that new, unnecessary code has surfaced in the application or the baseline architecture drifted and existing class or resource dependencies were changed.

–New Service Introduced: Based on the observed baseline service topology, when a new service has been detected vFunction will identify and alert that a new domain or major architectural event has occurred.

–New Common Classes Found: Building a stable, shared common library is a critical modernization best practice to reduce duplicate code and dependencies. Newly identified common classes can be added to a common library to prevent further technical debt from building up.

–Service Exclusivity Dropped: vFunction measures and baselines service exclusivity to determine the percentage of independent classes and resources of a service, alerting when new dependencies are introduced that expand architectural technical debt.

–New High-Debt Classes Identified: vFunction identifies the highest technical debt classes that are the highest contributors to application complexity. A “high-debt” class score is determined by its dependents, dependencies, and size and pinpoints a critical software component that should be refactored or re-architected.

Users will be notified of changes in the architecture through Slack, email, and vFunction Notifications Center. Through vFunction Continuous Modernization Manager, architects will be able to configure schedules for learning, analysis and the option to configure baseline measurements.

FTX has told investors it hopes to raise up to $4 billion in equity to fill the shortfall, people familiar with the matter said.
The implosion of the Binance bailout deal has weighed on financial markets that were already reeling from uncertainty surrounding the outcome of the U.S. midterm elections. “At the outset, our hope was to be able to support FTX customers to provide liquidity, but the issues are beyond our control or ability to help,” Binance said in a statement.

FTX has told investors it hopes to raise up to $4 billion in equity to fill the shortfall, people familiar with the matter said.
The implosion of the Binance bailout deal has weighed on financial markets that were already reeling from uncertainty over the outcome of the U.S. midterm elections. The Nasdaq fell about 2.5 percent on Wednesday, while the Dow Jones Industrial Average and the S&P 500 fell about 2 percent.

Bitcoin, the largest and best-known cryptocurrency, fell about 16 percent, bringing its value below $16,000 for the first time since November 2020. It is currently down about 75% from its all-time high reached in November 2021.

In a letter to its investors late Wednesday night, Sequoia said it was writing off $150 million that one of its funds had invested in FTX due to “solvency risk” to the crypto company. “The full nature and extent of this risk is unknown at this time,” the letter said. “Based on our current understanding, we are reducing our investment to $0.”

Hock Tan, President and Chief Executive Officer of Broadcom, said,

“Building upon our proven track record of successful M&A, this transaction combines our leading semiconductor and infrastructure software businesses with an iconic pioneer and innovator in enterprise software as we reimagine what we can deliver to customers as a leading infrastructure technology company. We look forward to VMware’s talented team joining Broadcom, further cultivating a shared culture of innovation and driving even greater value for our combined stakeholders, including both sets of shareholders.”

Raghu Raghuram, Chief Executive Officer of VMware, added:

“VMware has been reshaping the IT landscape for the past 24 years, helping our customers become digital businesses. We stand for innovation and unwavering support of our customers and their most important business operations and now we are extending our commitment to exceptional service and innovation by becoming the new software platform for Broadcom. Combining our assets and talented team with Broadcom’s existing enterprise software portfolio, all housed under the VMware brand, creates a remarkable enterprise software player. Collectively, we will deliver even more choice, value and innovation to customers, enabling them to thrive in this increasingly complex multi-cloud era.”

Tom Krause, President of the Broadcom Software Group, said:

“VMware has long been recognized for its enterprise software leadership, and through this transaction we will provide customers worldwide with the next generation of infrastructure software. VMware’s platform and Broadcom’s infrastructure software solutions address different but important enterprise needs, and the combined company will be able to serve them more effectively and securely. We have deep respect for VMware’s customer focus and innovation track record, and look forward to bringing together our two organizations.”

Michael Dell, Chairman of the VMware Board, commented on the deal:

“Together with Broadcom, VMware will be even better positioned to deliver valuable, innovative solutions to even more of the world’s largest enterprises. This is a landmark moment for VMware and provides our shareholders and employees with the opportunity to participate in meaningful upside.”

The transaction is expected to add approximately $8.5 billion of pro forma EBITDA from the acquisition within three years post-closing. Pro forma for each company’s fiscal year 2021, software revenue is expected to account for approximately 49% of total Broadcom revenue.

Transaction Details and Path to Completion

Under the terms of the agreement, which has been unanimously approved by the boards of directors of both companies, VMware shareholders will elect to receive either $142.50 in cash or 0.2520 shares of Broadcom common stock for each VMware share. The shareholder election will be subject to proration, resulting in approximately 50% of VMware’s shares being exchanged for cash consideration and 50% being exchanged for Broadcom common stock. Based on the closing price of Broadcom common stock on May 25, 2022, the total $138.23 per-share consideration represents a 44% premium to the closing price of VMware common stock on May 20, 2022, the last trading day prior to media speculation regarding a potential transaction, and a 32% premium to VMware’s unaffected 30-day volume weighted average price (VWAP). Upon closing of the transaction, based on the outstanding shares of each company as of the date hereof, current Broadcom shareholders will own approximately 88% and current VMware shareholders will own approximately 12% of the combined company on a fully diluted basis.

Michael Dell and Silver Lake, which own 40.2% and 10% of VMware shares outstanding, respectively, have signed support agreements to vote in favor of the transaction, so long as the VMware Board continues to recommend the proposed transaction with Broadcom.

In connection with the transaction, Broadcom obtained commitments from a consortium of banks for $32 billion in new, fully committed debt financing.

Broadcom expects to maintain its current dividend policy of delivering 50% of its prior fiscal year free cash flow to shareholders. Broadcom expects to maintain an investment grade rating, given its strong cash flow generation and intention to rapidly de-lever.

The transaction, which is expected to be completed in Broadcom’s fiscal year 2023, is subject to the receipt of regulatory approvals and other customary closing conditions, including approval by VMware shareholders.

The merger agreement provides for a “go-shop” provision under which VMware and its Board of Directors may actively solicit, receive, evaluate and potentially enter negotiations with parties that offer alternative proposals during a 40-day period following the execution date of the definitive agreement, expiring at 11:59 p.m. Pacific Time on July 5, 2022. There can be no assurance this process will result in a superior proposal. VMware does not intend to disclose developments about this process unless and until its Board of Directors has made a decision with respect to any potential superior proposal.

Broadcom Second Quarter 2022 Results and Third Quarter Fiscal Year 2022 Business Outlook

In a separate press release issued today, Broadcom reported results for its second quarter of fiscal year 2022, ended May 1, 2022, and provided guidance for the third quarter of its fiscal year 2022.

The Broadcom Board of Directors also has authorized a new share repurchase program to repurchase up to $10 billion of its common stock through December 31, 2023. This new share repurchase authorization is in addition to the share repurchase program authorized in December 2021, under which Broadcom may repurchase the current remaining $3 billion of common stock through December 31, 2022. Repurchases under the new share repurchase authorization may be made through a variety of methods, including open market or privately negotiated purchases. The timing and amount of shares repurchased will depend on the stock price, business and market conditions, corporate and regulatory requirements, alternative investment opportunities, acquisition opportunities and other factors. Broadcom is not obligated to repurchase any specific amount of shares of common stock, and the share repurchase program may be suspended or terminated at any time.