Broadcom Pledges To Make US the Global Leader in 5G

Broadcom-Qualcomm Deal Shadowed by Concern Over China Influence

Broadcom Pledges To Make US the Global Leader in 5G

It will also allot $1.5 billion to a fund to "train and educate the next generation of engineers in the US" and is promising to at least keep 5G research and development funding level or better.

Broadcom sought to soothe USA security concerns related to its bid for chipmaker Qualcomm, saying on Wednesday that it remains committed to investments aimed at making the United States a leader in 5G technology.

Since 5G networks are expected to begin rolling out in 2019, Broadcom's pledge to maintain R & D spending comes after most of the hard, fundamental research is finished, said Jim McGregor, principal analyst with technology consulting firm Tirias Research. It said that when they complete their acquisition of Qualcomm, they expect to have more than 25,000 employees in the United States, working diligently to make Broadcom the leading communication semiconductor company in the world.

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Broadcom invests differently than Qualcomm, said McGregor.

Broadcom also stated that it would work with the government of United States as it drives to accomplish and sustain the global leadership in 5G. China wants desperately to take the lead in technology from the USA and 5G is only one of several areas they are eager to control. "Cfius ordered Qualcomm to delay its annual meeting for a month as it reviews a potential deal".

"We are aware of the terms in the (CFIUS) order and are in full compliance", a Broadcom spokeswoman said by email when asked whether the company had given CFIUS the required five-day notice on action to redomicile.

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CFIUS, an inter-agency panel led by the U.S. Treasury, rarely reviews mergers before a deal has been clinched.

In addition, Mir wrote that statements by Broadcom officials indicate the company will take a "private-equity" approach to Qualcomm-reducing long-term investments such as R&D-a pattern that he said would follow Broadcom's previous acquisitions. Broadcom has nominated six directors for election to Qualcomm's 11-member board as a way to force negotiations between the two companies.

Broadcom Ltd AVGO.O has promised not to sell critical national security assets to foreign buyers if its deal to buy chipmaker Qualcomm Inc QCOM.O is approved, another effort by the Singapore-based firm to appease US security concerns. Broadcom's dipped $3.91 at $247.05.

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