Avago Technologies buys California-based Broadcom for $37bn
May 29 , 2015
Avago Technologies, one of the largest manufacturers of semiconductor products, is buying Broadcom, a rival firm based in California, for $37 bn.
Together, the two tech companies have over 20,000 employees across the world and combined annual sales of $15 bn.
Avago, which is using a mix of shares and cash to buy Broadcom, described the agreement as a “landmark” deal. Avago chief executive Hock Tan said that the combined entity “creates a global diversified leader in wired and wireless communication semiconductors.”