$37B for Broadcom Sale to Singapore

Irvine-based chipmaker, Broadcom Corp., is being sold to Singapore’s Avago Technologies for $37 billion. The merger will be called Broadcom Ltd., creating the third largest chipmaker in the world, with expected annual revenue of $15 billion.

The new company plans to develop a five-building campus of 1.1 million square feet adjacent to Orange Country Great Park in Irvine.

Judging from Avago’s prior acquisition history, there will likely be layoffs of at least a portion of Broadcom’s 2,400 employees.