Broadcom Corporation Officially Acquired By Avago Technologies

Avago Technologies has acquired Broadcom Corporation completely with the law of Singapore, renaming it to Broadcom Limited.

Avago Technologies has finally acquired Broadcom Corporation with compliance to Singapore law, only a few filings are remaining though. The acquisition was publicly announced in May for almost $17 billion and 140 million shares of Avago.

The deal is subject to only a few filing with the Office of the Secretary of State of California, the last day for the trade of Avago shares and Broadcom Corporation shares was Friday, January 29, this year. Shareholder can contact assigned information agents for transaction, Georgeson Inc., if they have any question or require information.

Broadcom is now acquired by Avago, which also acquired LSI and even Emulex. Avago Tech has combined the products of all acquired companies to be leader in the semiconductor business. The Information technology company’s name will be used for its products, which will be Broadcom Limited. The business is also planning to file a current report, Form 8-K with the Exchange Commission and US securities so that acquisition can be as smoothly as possible. The Form 8-K will consist of Broadcom’s financial information for Fiscal Year 2015, and all the other necessary information and data.

Broadcom will announce its first quarter earnings report of 2016 on Thursday, March 3, after the market closing. A conference will be held at 2:00PM on Thursday for the business discussion and earnings result. The conference can also be viewed online through the website of the company so that everyone can access it easily.

Broadcom Corporation has been renamed to Broadcom Limited and will now trade under the ticker, AVGO. A wide variety of products will be offered with better negotiation authority with the manufacturers. The merger would turn the company’s annual revenue to almost $15 billion, making it singular business at a massive scale.

Avago Tech’s headquarter is situated in Singapore and San Jose. This acquisition has added to a good record of the company when it comes to acquiring businesses of the semiconductor industry. The merged business will now have its headquarters in San Jose, where CEO Hock Tan is planning to spend his time.

The company’s shares were traded publicly until Friday and will now belong to the largest chipmaker. Broadcom’s CEO, Scot McGregor, will be leaving the company soon and going to receive $67 million as severance package. 

Avago enjoys its position in the market with many acquisitions under its umbrella. This strengthens is status in the industry among many others.