Broadcom Vows to Maintain Qualcomm 5G Spending as Government Review Looms

Broadcom Vows to Maintain Qualcomm 5G Spending as Government Review Looms”

In addition, Broadcom promised to create to a new $1.5 billion fund to train and education the next generation of radio frequency engineers in the US. To quell some of the concerns, Broadcomm inked a letter to Congress assuring members that it has every intention of making the United States a leader in 5G connectivity, and that it would not spend less money on advancing 5G stateside.

Broadcom has the hots for Qualcomm in all the wrong ways, and even with almost $120 billion on the table, the San Diego-based company behind the Snapdragon family of products has pushed away this acquisition. "Once they have control, the USA government loses much of its leverage to force compliance and Broadcom has to know this". Broadcom is based in Singapore and is in the process of moving their headquarters to the United States and becoming a USA company.

The anonymous sources asked not to be identified because details of CFIUS' order to Broadcom and Qualcomm are classified. "Any notion that a combined Broadcom-Qualcomm would slash funding or cede leadership in 5G is completely unfounded".

CFIUS plans to further assess the proposed acquisition to evaluate the potential security threat.

"It is not the 5G investment that the US government should be concerned about", said McGregor.

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"They don't invest in risk", said McGregor. Broadcom would also not sell any critical national assets of security to any foreign companies.

CFIUS took the rare step this week of publicly intervening in the hostile takeover, ordering Qualcomm to postpone its annual shareholders meeting just days before it was scheduled to take place.

CFIUS's intervention at this early stage is rare. "When we complete our acquisition of Qualcomm, we expect to have more than 25,000 employees in the USA, working to make Broadcom the leading communication semiconductor company in the world". FT continues: "Cfius took issue with Broadcom's "private equity-style" plans, which it wrote could lead to a reduction in Qualcomm's large research and development budget in favour of "short-term profitability".

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 USA security concerns.

Broadcom shares are up 0.06% to $247.10.

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