SINGAPORE: Avago Technologies Ltd agreed to buy Broadcom Corp for US$37 billion (S$50 billion) in the largest merger of chipmakers ever, turning a lesser known company run by a ferocious dealmaker into one of the biggest industry players.
Avago, which serves the wireless and industrial markets, is offering Broadcom shareholders US$17 billion in cash and Avago shares valued at US$20 billion.
Broadcom is best known for its connectivity chips, which are used widely in smartphones made by Apple Inc and Samsung Electronics Co Ltd.
