Trump announces Broadcom to move headquarters back to US

“When I was growing up when I was a young boy made in the USA that meant something. It means something again,” Trump said at the announcement

Chip maker Broadcom said it would initiate a structural change to shift the company's location where it is based from Singapore to the US, pending shareholder approval.

The move would enable Broadcom to avoid a federal review process.

The company said it will move to the US regardless of the tax plan's fate as it seeks to close an acquisition of American networking company Brocade.

The company, a leader in worldwide communications semiconductors with $100 billion market capitalization, is moving its entire operation to the US and locating its headquarters in Delaware. Trump said the bill would provide a "massive tax cut for American families" and simplify the USA tax code.

President Donald Trump is calling chipmaker Broadcom "one of the really great, great companies" after the company made the decision to recamp its incorporation from Singapore to the United States.




"With this commitment, more than $20 billion in annual revenue will come back to our cities, towns and the American workers", Trump said. "From our base here, each year we will invest $3 billion in research and engineering and $6 billion in manufacturing, resulting in more high-paying tech jobs".

The president said his administration is seeking to encourage companies to bring their operations back to the U.S.by cutting regulations and crafting tax reform legislation.

Tan described Broadcom as "the embodiment of the legacy of innovation of three great American technology leaders: Bell Labs, Hewlett Packard, and more recently, Broadcom Corporation".

The redomiciliation will be voted on by Broadcom's shareholders and is expected to be effected in a manner meant to be tax-free to the company's equity holders. "The proposed tax reform package will level the global playing field and allow us to compete effectively in worldwide markets", he said.

-Dylan McGrath is the editor-in-chief of EE Times.

Related news:

Hot News

isis-killer-beheading-video-story-top 'The Late Show' Drops Jeremy Piven Interview Amid Sexual Harassment Allegations
Nov 03, 2017 - 00:26
A rep for Piven issued a stern denial on behalf of the Entourage star late Tuesday in response to Bellamar's allegations. Piven was accused of groping actress Ariane Bellamar on the set of " Entourage ".

isis-killer-beheading-video-story-top HTC U11+ Announced At A Price EUR 699
Nov 03, 2017 - 00:23
So HTC's new U11 Life phone isn't unique for removing the headphone jack - but it is unique for the solution it presents instead. With the HTC U11 + priced at £649, it's unsurprising if it's the kind of phone which is appealing but simply out of your budget.

isis-killer-beheading-video-story-top Is Kylie Jenner Hinting She's Pregnant With A Girl?
Nov 03, 2017 - 00:23
The Kylie Cosmetics founder is a pro at being cryptic on her social media channels and we can only speculate what all the pink means.

isis-killer-beheading-video-story-top Facebook stock up after earnings and revenue beat
Nov 03, 2017 - 00:14
Zuckerberg outlined investment priorities that included video content, which he described as the biggest trend at Facebook . CEO Mark Zuckerberg resolved the concerns surrounding the company in the opening of its letter to financiers.

isis-killer-beheading-video-story-top India vs New Zealand, 1st T20I, Feroz Shah Kotla, IND v NZ
Nov 02, 2017 - 00:16
Tim Southee and Trent Boult both tried their hands at Tom Latham which kept the drill. Asked to bat first, India posted a massive total of 202/3 in their 20 overs.

isis-killer-beheading-video-story-top Number of MS mothers giving birth prematurely increases, new study finds
Nov 02, 2017 - 00:16
Preterm birth rates got worse in 43 states, the District of Columbia and Puerto Rico, and stayed the same in three states. Although North Carolina received a "D", the grade for individual counties for which numbers were available varied.

isis-killer-beheading-video-story-top Russia, Azerbaijan, Iran to discuss efforts to counter terrorism, drug trafficking
Nov 02, 2017 - 00:13
The host nation believes this will show that U.S. approval is not needed for regional cooperation. Our cooperation can isolate the United States.

isis-killer-beheading-video-story-top 'House Of Cards' Cancelled As Fallout Continues For Spacey
Nov 02, 2017 - 00:12
Exactly how Hollywood organizations will react to the allegations against Spacey remains unclear. Christian Bale replaced Spacey's name in the version that aired on NBC in the United States.

isis-killer-beheading-video-story-top NYPD Commends Officer Ryan Nash for Saving Lives in Manhattan Truck Jihad
Nov 02, 2017 - 00:10
Saipov, 29, a native of Uzbekistan who entered the United States in 2010, was under arrest and hospitalized Wednesday. But Nash didn't know that when he confronted the suspect, O'Neill said. "We have first responders who are heroes.

isis-killer-beheading-video-story-top Nintendo launches "legendary" Black Friday deals and more
Nov 02, 2017 - 00:08
The green slate will launch for the same $79.99 price, and will include The Legend of Zelda: Ocarina of Time 3D . A white-and-red Nintendo 2DS system pre-loaded with the New Super Mario Bros.

isis-killer-beheading-video-story-top Russia Helps Iran Build New Atomic Reactors at Bushehr
Nov 01, 2017 - 00:16
Now Congress must decide whether or not to reimpose sanctions waived under the nuclear deal by mid-December. Prior to the meeting with Amano, Iran's president excoriated US policies before his country's parliament.

isis-killer-beheading-video-story-top Kim Kardashian's Aaliyah Costume Is Getting Dragged on Twitter
Nov 01, 2017 - 00:16
Are you actually not well?' And he was like, 'I'm doing it to make Kourtney mad.' I said, 'You're not gonna make her mad for the right reasons'".

isis-killer-beheading-video-story-top Apple releases iOS 11.1 with more than 100 new emoji
Nov 01, 2017 - 00:14
The watchOS 4.1 update also brings the GymKit syncing, so users will be able to sync their activity with compatible gym equipment. Beyond the merriment of new emoji to play with, iOS 11.1 delivers an important patch for the worrying Krack Wi-Fi vulnerability .

isis-killer-beheading-video-story-top Map, street view of bike path
Nov 01, 2017 - 00:12
President Trump and the first lady both tweeted responses. "Our thoughts and prayers are with all those affected", she added. Witnesses describe pandemonium after what appeared to be a collision between a school bus and a rental truck from Home Depot.

isis-killer-beheading-video-story-top Stock is up at $49.34 (CAA) CALATLANTIC INVESTOR ALERT BY THE FORMER…
Nov 01, 2017 - 00:11
Mutual of America Capital Management LLC owned 0.06% of CalAtlantic Group worth $2,226,000 as of its most recent SEC filing. The average Wall Street analyst rating for CalAtlantic Group, Inc .is Hold, according to the average of 11 analyst scores.