Broadcom Acquired By Avago For $37 Billion

Irvine-based semiconductor maker Broadcom and Singapore-based Avago Technologies said this morning that Broadcom has agreed to be acquired by Avago in a deal worth $37 billion. Avago will pay both cash and stock for Broadcom. The two companies said the acquisition will create a company worth $77 billion in enterprise value and with $15 billion in combined annual revenues. The new, combined company will be renamed Broadcom Limited.