Avago Technologies has agreed to buy Broadcom in a deal that will create a networking chip giant with a wide variety of products.
It has offered US $37 billion for Broadcom, including $17 billion in cash and equity valued at approximately $20 billion, it said on Thursday. The combined company will offer products for wired and wireless networks.
Both companies’ chips are found in power-line and wireless networks. Avago also makes chips for optical networks, while Broadcom’s are used in routers, connected-home and car equipment, and IoT devices.
The companies expect to close the deal by next April, subject to approval from their shareholders and regulators.
Full content: The New York Times
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
