(Reuters) – Singapore-based Broadcom Ltd (AVGO.O) pledged on Wednesday to make the United States the global leader in 5G technology and maintain Qualcomm’s investments in the area after any merger between the two companies.
The U.S. government’s Committee on Foreign Investment in the United States (CFIUS) has ordered a national security review of the proposed deal, saying a takeover can lead to lower R&D spending and weaken Qualcomm’s competitive position against Chinese companies. (bit.ly/2FtCesY)
Broadcom also promised to create a $1.5 billion fund with a focus on innovation to train and educate the next generation of U.S. engineers to ensure the country’s lead in future wireless technology.
Reporting by Supantha Mukherjee in Bengaluru