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Trump Says Broadcom Is Moving Headquarters To US From Singapore (bloomberg.com)
An anonymous reader quotes a report from Bloomberg: President Donald Trump said semiconductor company Broadcom Ltd. is returning its headquarters to the U.S. from Singapore. Broadcom Chief Executive Officer Hock Tan joined Trump Thursday in the Oval Office for the announcement. Tan said the move to domicile the company in the U.S. would bring $20 billion in revenue into the country. The two men didn't specify the site of the new main location. Broadcom's website lists San Jose, California, as an existing corporate co-headquarters and has done so since the present company was created in 2016 in one of the semiconductor industry's largest acquisitions when Avago Technologies Ltd. acquired then-Broadcom Corp. The company's shares declined as much as 4 percent to $248.87 after the announcement. The stock had gained 47 percent this year through Wednesday's close.
Yeah, I dont think Trump had anything to do with it. Broadcom was trying to merge with a US company and was being blocked, so it was cheaper to move and get the deal done. Yay jobs!
...That this has something to do with the ongoing legal battle between Apple & Broadcom. Something like, if Broadcom is a U.S. based company then they can get the ITC to block Apple importing any iPhones due to alleged patent infringement. Any takers?
That was my first thought - they go from being presented as a litigious off shore company to a domestic technology powerhouse that is worried about protecting it's IP.
All by moving an office; the actual engineers and IP isn't going anywhere.
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