Posted 05/29/2015 at 8:29 AM
Posted 2 years ago
The semiconductor manufacturing company Avago has finalized a move to add to its growing portfolio, a move that is the biggest merger of semiconductor companies in history.
The company, based in the United States and Singapore, announced that they were acquiring Broadcom, a rival company based in California.
The purchase by Avago was viewed as an outstanding deal. In the words of their CEO, Hock Tan, “The combination of Avago and Broadcom creates a global diversified leader in wired and wireless communication semiconductors.”
Avago made the purchase using a combination of shares and cash totalling $37 billion.
It represents another pinnacle of achievement for the company which has been on a tear of expansion.
Broadcom, which makes semiconductors for broadband cable set-top boxes and mobile phones and chips for Apple and Samsung smartphones, is the sixth company that Avago has acquired since 2013.
The joint company plans to maintain its main headquarters in Singapore.