(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.
FILE PHOTO – A sign to the campus offices of chip maker Broadcom Ltd, who announced on Monday an unsolicited bid to buy peer Qualcomm Inc for $103 billion, is shown in Irvine, California, U.S., November 6, 2017. REUTERS/Mike Blake
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.
