Broadcom Pledges $1.5 Billion Fund to Salvage Qualcomm Deal
- Cfius review cited concerns about reduced R&D spending
- Fund would train, educate next generation of U.S. engineers
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Broadcom Ltd. said it plans to create a new $1.5 billion fund to ensure America’s lead in future wireless technology, responding to U.S. government concerns that the chipmaker’s proposed takeover of Qualcomm Inc. could hurt its competitiveness and threaten national security.
The Committee on Foreign Investment in the U.S., led by the Treasury, is investigating the $117 billion offer by Broadcom on national seucurity grounds, an unusual move that threatens to derail what would be the biggest deal in the history of technology.