Avago to Buy Broadcom for $37 Billion

Avago Technologies has entered into a definitive agreement to acquire Broadcom for $37 billion. The deal values the combined company at $77 billion in enterprise value.

Once the transaction is completed. Hock Tan, president and CEO of Avago will continue to serve in these roles of the combined company, which will adopt the name Broadcom Limited. Dr. Henry Samueli, co-founder and CTO of Broadcom will join the board of directors, as will another director from Broadcom and he will also continue to serve as CTO of the combined company.

The transaction is expected to close by the end of the first calendar quarter of 2016 and is subject to regulatory approvals in various jurisdictions, as well as the approval of Avago’s and Broadcom’s shareholders.