President Donald Trump said semiconductor company Broadcom Ltd. is returning its headquarters to the U.S. from Singapore.

Broadcom CEO Hock Tan joined Trump on Nov. 2 in the Oval Office for the announcement. Tan said the move to domicile the company in the U.S. would bring $20 billion in revenue into the country.

The two men didn’t specify the site of the new main location. Broadcom’s website lists San Jose, Calif., as an existing corporate co-headquarters and has done so since the present company was created in 2016 in one of the semiconductor industry’s largest acquisitions when Avago Technologies Ltd. acquired then-Broadcom Corp.

Tan’s visit to the White House comes as his company struggles to get regulatory approval for its $5.9 billion purchase of Brocade Communications Systems Inc. That deal, announced last November, has been delayed at least three times by the Committee on Foreign Investment in the U.S., a panel that reviews the security risks of foreign acquisitions of American companies.

Acquisitions have been key to Tan’s strategy and he’s played a central role in consolidation of the $300 billion semiconductor industry over the last three years.

The company, which is a major supplier to Apple Inc., has built itself from a former division of Hewlett-Packard into one of the industry’s largest chipmakers via a string of purchases. Tan has said he intends to seek more deals, a strategy that could be limited by opposition from U.S. regulators.

Broadcom had annual revenue of $14.9 billion in 2016 and that total is forecast to rise to $18 billion in 2017, according to analysts’ estimates. Brocade reported sales of $2.35 billion in 2016. Broadcom had 15,700 employees as of October 2016., according to regulatory filings.

Broadcom gets 54% of its sales in China and 8.5% from the U.S., according to data compiled by Bloomberg. About 76% its long-term assets are U.S. based.

By Ian King and Shannon Pettypiece

25 Feb by IndustryWeek and machine-design-hosting a webinar, sponsored by SAP

Date: Tuesday, February 25, 2020Time: 11:00 a.m. EST (GMT -5, New York)Duration: 1 HourEvent Type: Live WebinarCost: Free

Sign up today!

Description

To stay competitive, engineering and R&D teams need to find ways to bring exciting new products to market faster, with higher quality and less cost. To do so, manufacturing leaders seek to create environments where top engineering talent can thrive. So, what are leaders investing in to meet these challenges and create that environment?

In this webinar, we will reveal the key insights gained through research into the engineering and design teams at some of the world’s most successful manufacturers around the world. Survey result insights to be discussed include:

If you want to be better informed about what investments will make the biggest difference for your engineering and R&D teams, don’t miss this virtual roundtable discussion with speakers:

Keith Zobot, global Vice President, digital products and projects, SAP

Brent Robertson, co-founder of Fathom, the author of the study

A detailed report will follow this session summarizing our survey’s results behind the findings.

To register

Dynamics

Keith Zobot, global Vice President, digital products and projects, SAP

Keith Zobott’s background includes over 30 years of experience with Product Lifecycle Management, parametric design, advanced analysis tools, product development technologies, and program management. Recent experience includes developing strategic plans for Enterprise Product Lifecycle Management (PLM) and other product development enabling technologies for multi-billion dollar global businesses. 

Brent Robertson, co-founder of Fathom

Brent Robertson works with leaders to design futures worth fighting for. A partner at Fathom, he champions an approach to strategic planning, employee engagement, leadership succession and market differentiation that prioritizes people and relationships. As a result, his clients don’t simply plan their futures, they bring them to life through the energy of organization-wide involvement in, and commitment to, generating valuable businesses that matter.

Technical details

This webinar will be conducted using a slides-audio-video format.  After you complete your registration, you will receive a confirmation email with details for joining the webinar.

System test (opens in a new window)Contact us