Corporate History and Acquisitions
Broadcom Corporation, founded in 1991 by Henry Samueli and Henry Nicholas, has a rich history of growth and acquisitions in the technology industry. Notable milestones include the acquisition of ServerWorks Corporation in 2001 for $957 million and becoming publicly listed on NASDAQ in 1998. In 2015, Broadcom was acquired by Avago Technologies for $37 billion, expanding its market presence significantly. The company has also made strategic acquisitions of companies like NetLogic, Epigram, Hothaus, AltoCom, and Silicon Spice.
Legal Battles and Scandals
Throughout its journey, Broadcom has faced legal battles and scandals, including disputes with competitors and regulatory authorities. Instances include the U.S. International Trade Commission blocking Qualcomm cell phone models in 2007 and the Federal Trade Commission suing Qualcomm in 2017 for monopoly maintenance. Broadcom settled with Qualcomm for $891 million in 2009 and has dealt with issues like stock options backdating scandals, leading to charges by the SEC for fraudulent stock option practices in 2006.
Product Offerings and Business Operations
Specializing in computer and telecommunication networking products, Broadcom is known for its high-speed encryption technology, Trident+ ASIC for high-speed switches, and VideoCore GPUs used in systems like Raspberry Pi. With a revenue of $22.6 billion in 2020 and a global workforce of over 19,000 employees, Broadcom holds a prominent position in the networking, broadband, and wireless technology sectors. The company’s commitment to innovation, technology advancement, and corporate social responsibility is evident through its focus on semiconductor solutions, 5G technology investments, sustainability initiatives, diversity and inclusion efforts, and partnerships with non-profit organizations for social causes.