Home  ›  News  ›

Avago to Buy Broadcom for $37 Billion

Article Comments  

May 28, 2015, 7:09 AM   by Eric M. Zeman

Avago Technologies today said it plans to acquire Broadcom for $37 billion. Avago is offering Broadcom's shareholders $17 billion in cash and $20 billion in Avago stock. Avago predicts the combined company will realize cost savings of $750 million per year and bring in $15 billion in annual revenue. Hock Tan, president and CEO of Avago, will become president and CEO of the combined company, which will be called Broadcom Limited. Avago and Broadcom expect the combined company to be a stronger competitor in the market, with a diversified product offering that will appeal to makers of mobile devices. The deal will be subject to regulatory approval. Avago expects the deal to close during the first quarter of 2016.



This forum is closed.

This forum is closed.

No messages

Page  1  of 1

Subscribe to news & reviews with RSS Follow @phonescoop on Threads Follow @phonescoop on Mastodon Phone Scoop on Facebook Follow on Instagram



All content Copyright 2001-2024 Phone Factor, LLC. All Rights Reserved.
Content on this site may not be copied or republished without formal permission.