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.

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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.