Broadcom commands $37B in sale to Avago Technologies
Irvine semiconductor maker Broadcom Corp. has agreed to be acquired by Avago Technologies Inc. for $37 billion in cash and stock, creating a giant supplier for the technology in a wide array of computing products, including smartphones, tablets, wireless networks and cloud computing.
The blockbuster deal, announced early Thursday, is part of a rapid consolidation in the semiconductor industry. Combined, their market value would reach $77 billion and revenues total $15 billion.
For Broadcom, the deal marks the end of its days as a public company that had been a mainstay of the Orange County technology scene. Founded in 1991 in a Santa Monica condominium by Henry Samueli, a UCLA professor, and Henry T. Nicholas III, a star student, the company now employs more than 10,000, with more than 75% of them engineers.