Avago completes $37B acquisition of Broadcom, changes name

FORT COLLINS — Avago Technologies Ltd., which employs roughly 1,300 people in Fort Collins, on Monday completed its $37 billion acquisition of rival chipmaker Broadcom Corp., a deal that was first announced last May.

Officials for Avago — which has co-headquarters in San Jose, Calif., and Singapore — could not be reached Monday to comment on what impacts the mega-deal might have on the company’s Fort Collins operations, Avago’s largest facility.

Shares of Avago (Nasdaq: AVGO) and Irvine, Calif.-based Broadcom (Nasdaq: BRCM) finished trading on Friday. The merged company will go by the name Broadcom Ltd., and its stock began trading Monday on the Nasdaq exchange under the AVGO ticker symbol.

The two companies make chips for smartphones, data storage and other electronics. For their 2015 fiscal years, the two companies combined to generate more than $15 billion in sales.

Avago has been in the process of building a $57 million, 121,000-square-foot expansion of its 1.2 million-square-foot facility at 4380 Ziegler Road in Fort Collins. That’s in addition to the recent purchase of a manufacturing facility in Eugene, Ore.

Stock for combined company Broadcom Ltd. closed at $137.68 Monday, up nearly 3 percent.