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Broadcom Moving Back Stateside

Broadband tech giant Broadcom is returning its headquarters from Singapore back to the U.S., President Donald Trump said Thursday (Nov. 2) in an Oval Office photo op/announcement.

The President tweeted video from the event, saying "we are thrilled to welcome" the company back. On hand was CEO Hock Tan.

The President called Broadcom a "really, really great company" and pointed out that the company employs 7,500 American workers, including employees in Pennsylvania. He said he expected that American job count would increase substantially.

He also said over $20 billion in annual revenue would move back onshore with Broadcom's return.

Broadcom, a key supplier of set-top and cable modem silicon, is in the process of merging with Brocade, a deal that, if consummated, will trigger Arris’s proposed acquisition of Brocade’s Ruckus Wireless and ICX switch businesses.