February 2nd, 2016 by Lyle Smith
Avago Completes Acquisition of Broadcom
The acquisition of Broadcom by Avago Technologies has finally been completed in accordance with Singapore law while subject to certain filings with the Office of the Secretary of State of California. The deal was originally announced last May for $17 billion in cash consideration and the economic equivalent of approximately 140 million Avago ordinary shares. Previously, Avago has had also acquired companies Emulex and LSI.
By combining the products and technology of each company, Avago will strive to be a leader in communications semiconductors. The company will assume the name of Broadcom Limited.
The last day of trading for ordinary shares of Avago and shares of Class A common stock of Broadcom Corporation on the NASDAQ Global Select Market occurred this past Friday on January 29, 2016. Broadcom adds that the company’s ordinary shares will begin trading NASDAQ Global Select Market as of this morning.
In addition, Broadcom Limited plans to file a Current Report on Form 8-K with U.S. Securities and Exchange Commission, which verifies the completion of the acquisition. It will also include audited consolidated financial statements for Broadcom Corporation for its fiscal year (December 31, 2015). Broadcom Corporation’s net revenue for its fourth quarter of fiscal year of 2015 was $2.05 billion while its net revenue for its fiscal year reached $8.4 billion.