Shortly thereafter, Broadcom CEO Chen Fuyang met with U.S. President Trump, who announced that Broadcom will move the company from Singapore to the United States.
Broadcom shares fell 0.8% to $ 269.78 in early trading Friday.
Broadcom proposed an offer to take the initiative earlier this month, with plans to buy Qualcomm, a maker of smart chipsets, for 103 billion U.S. dollars but was rejected. Broadcom, formerly Avago Technologies, is trying to become the industry's leading chip supplier. Broadcom main production for mobile devices,serverThe connection chip. Brocade produces network switches, stores products and develops software.
With this transaction, Broadcom will be able to use Brocade's Fiber Channel switches for a greater share of the data center product market. Fiber Channel switches speed data transfer between servers and storage. It also enables Broadcom to further tap the Internet device and automotive market.
In a statement, Brocade said the company's common stock will cease trading on the Nasdaq and will operate as a unit of Broadcom in the future. (Compile / flu rain)