| Title | Chipmaker Avago Buys Broadcom for $37B | |
| Date | Friday May 29 2015, @05:47PM | |
| Author | martyb | |
| Topic | ||
| from the merger-mania dept. | ||
The Orange County Register reports
Irvine chipmaker Broadcom Corp. will be purchased by Singapore-based Avago Technologies Ltd. for $37 billion, making the deal the biggest technology acquisition ever.
The two companies said they expected the deal to produce $750 million in savings over the first 18 months of their union. The new company will take Broadcom's name, Avago's CEO, Hock Tan, will retain his leading role in the newly combined enterprise.
[...] The purchase of Broadcom, the biggest maker of Wi-Fi chips for short-range connections in mobile devices, will create the world's sixth-largest chipmaker in terms of revenue. The deal is the latest in a round of consolidation in the $300 billion industry as the rising costs of production and design push manufacturers to combine.
[...] Broadcom is closing its unit that makes modem chips for mobile phones. That is reducing losses and expenses in a business that failed to gain significant market share from Qualcomm Inc.
Have any Soylentils had dealings with Avago which indicate that (notoriously closed) Broadcom will now become more open?
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printed from SoylentNews, Chipmaker Avago Buys Broadcom for $37B on 2024-04-25 17:44:44