04 November, 2017
Broadcom Chief Executive Officer Tan Hock joined Trump on Thursday (Nov 2) in the Oval Office for the announcement.
Flanked by Broadcom CEO Hock Tan and eight employees from the Lehigh Valley, President Donald Trump praised Broadcom as "one of the really great, great companies", noting that it employs more than 7,500 workers across the U.S.
The $100 billion Broadcom Limited, now located in Singapore, is moving to DE once shareholders approve, bringing $20 billion in annual revenue back to the United States.
The move to reincorporate in DE is largely symbolic for Broadcom, which maintains about half of its global workforce in the U.S. However, the move is a boon to the Trump administration and the tax plan, and the announcement is likely to be trumpeted to further advance the reform plan. The company will retain headquarters in Singapore and San Jose, California.
Gurriel issued five-game ban by Manfred, but not in World Series
With his impending suspension deferred to 2018, Gurriel will stick in his usual spot in the order against the Dodgers for Game 4. I've never had anything against Darvish. "I did not mean it to be offensive at any point", Gurriel told reporters .
Pay with Google and speed through checkout
You'll then be prompted to confirm the payment with a security code on your Android phone. Pay with Google aims to be a lot simpler.
Volvo Polestar unveils its first auto Polestar 1
It will be a mid-sized BEV, joining the competition around Tesla Model 3 , and with consequently higher volumes than Polestar 1. Polestar expects that most customers would use the auto in electric mode only for most of the trips.
"My administration is working every day to make the United States the most attractive place in the world to do business so that more and more companies like Broadcom come back to our shores, grow their businesses, and create more and more American jobs", Trump said.
Broadcom had annual revenue of US$14.9 billion in 2016 and that total is forecast to rise to US$18 billion in 2017, according to analysts' estimates. "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".
Tan's visit to the White House comes as his company struggles to get regulatory approval for its US$5.9 billion purchase of Brocade Communications Systems Inc. The high-level government committee, familiarly known as CFIUS, investigates proposed acquisitions of US companies by foreign buyers on national security and intellectual property grounds.
Tan, who also spoke at the event, said Broadcom's move to "redomicile" in the USA would bring in $20 billion of annual revenues into the country.