USA 5G Leadership at Core of Broadcom-Qualcomm Bid Regulatory Review
10 March, 2018, 01:04 | Author: Irene Delgado
Broadcom this week pledged to continue Qualcomm's investment in 5G research amid signs that government officials are anxious about the ramifications of a potential merger between the companies.
Key quote: "Broadcom is committed to making the United States the global leader in 5G".
Qualcomm will hold a vote for its investors to decide on Broadcom's nominations to its board on the 5th April, which will also serve as a referendum on an offer that is worth $117 billion (around £84bn).
"Broadcom is in every important respect an American company, with a lineage of great American technology icons like Hewlett-Packard, AT&T, Broadcom Corp., and Brocade Communications Systems, Inc".
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. It also noted that Qualcomm is facing scrutiny from regulators around the world about what some say are anticompetitive licensing agreements that the company uses to fund its R&D investments. They argued that even the higher price undervalued Qualcomm, noting that their company was extending its reach into such growth markets as the internet of things (IoT), the data center and 5G networking.
CFIUS plans to further assess the proposed acquisition to evaluate the potential security threat.
United States semiconductor giant Broadcom, who has been after buying smartphone chip from Qualcomm for quite some time, is likely to have to wait even longer thanks to management opposition and USA national-security concerns. The review of Broadcom's bid illustrates the USA government's expanding focus on the competitiveness of the national semiconductor industry as China advances.
A weakened Qualcomm could hand over 5G telecommunications prowess to Huawei Technologies and perhaps other Chinese companies, which have been investing heavily to gain a beach head in 5G technology ahead of the transition from 4G networks.
Broadcom sought to soothe U.S. 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.
Broadcom did not mention CFIUS in its announcement on Wednesday but said the company intends to "maintain the [research and development] resources Qualcomm devotes to 5G and innovation in future wireless standards".
Broadcom said on Friday it expected to complete its move to the United States by May 6.
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