TechTaffy

tech:

taffy

Broadcom proposes to acquire Qualcomm for $130 bn

By TechTaffy Desk

In an unsolicited bid, Broadcom has offered to buy Qualcomm for roughly $130 billion. Hock Tan, president and CEO of Broadcom, said in a statement, “This complementary transaction will position the combined company as a global communications leader with an impressive portfolio of technologies and products. We would not make this offer if we were not confident that our common global customers would embrace the proposed combination.”

Broadcom’s proposal was approved by the company’s board.

Moelis & Company, Citi, Deutsche Bank, J.P. Morgan, BofA Merrill Lynch and Morgan Stanley are acting as financial advisors to Broadcom. Wachtell, Lipton, Rosen & Katz and Latham & Watkins are acting as legal counsel.

“The Qualcomm board, in consultation with its financial and legal advisors, will assess the proposal in order to pursue the course of action that is in the best interests of Qualcomm shareholders,” Qualcomm said in a statement, acknowledging the company has received the bid.

[Image courtesy: Qualcomm]

Just in

Around the web

Apple deletes WhatsApp, Threads from China app store on orders from Beijing — CNN

Apple has removed WhatsApp and Threads from its app store in China, following an order from the country’s internet watchdog, writes Juliana Liu.
Industry

Singtel, Vonage partner to integrate Paragon platform

Singtel has announced a partnership with Vonage, a cloud communications company and subsidiary of Ericsson, to help enterprises and telcos innovate and scale their services through Singtel's orchestration platform, Paragon. 
Industry

Former VMware COO Mike Hayes joins Mirantis board

Mirantis, a company that provides open source software for infrastructure control, has appointed Mike Hayes to its board.
Industry

Boston Dynamics unveils fully-electric Atlas robot

Boston Dynamics is retiring its hydraulic Atlas robot and introducing a fully electric version of its humanoid robots. 
Industry

Tech giants urge EU to prioritize digital competitiveness and infrastructure investment

Five major technology companies - Ericsson, IBM, Intel, Nokia, and Vodafone - called on European policymakers to take urgent action to boost Europe's digital competitiveness and keep it a priority for the incoming European Commission.