In May 2016, Cypress Semiconductor announced that it will acquire Broadcom Corporation's full portfolio of IoT products for $550 million. The new merged entity is named Broadcom Limited but inherits the ticker symbol AVGO. Nicholas serves in a strategic advisory role within the new company. Samueli became Chief Technology Officer and member of the combined company's board, and Dr. Hock Tan, Avago President and CEO, was named CEO of the new combined company. At closing, which completed on February 1, 2016, Broadcom shareholders held 32% of the new Singapore-based company to be called Broadcom Limited. On May 28, 2015, chip maker Avago Technologies Ltd. Broadcom first landed on the Fortune 500 in 2009, and climbed to spot #327 in 2013. As of 2011, Broadcom was among Gartner's Top 10 Semiconductor Vendors by revenue. In 2012, Broadcom's total revenue was $8.01 billion.
Unlike the others, which were struggling start-ups, ServerWorks was revenue-generating and profitable. This acquisition was one in a string of purchases of companies by Broadcom in the beginning of the 2000s.
īroadcom Corporation acquired ServerWorks Corporation, a maker of chipsets for IA-32-based servers, in 2001 for $957 million. In 1998, Broadcom became a public company on the NASDAQ exchange (ticker symbol: BRCM) and employs about 11,750 people worldwide in more than 15 countries. In 1995 the company moved from its Westwood, Los Angeles office to Irvine, California. History 1995-2016: Founding and growth īroadcom Corporation was founded by professor-student pair Henry Samueli and Henry Nicholas from UCLA in 1991. It was acquired by Avago Technologies in 2016 and currently operates as a wholly owned subsidiary of the merged entity Broadcom Inc. Broadcom Corporation is an American fabless semiconductor company that makes products for the wireless and broadband communication industry.
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