Avago Acquiring Broadcom for $37 Billion

According to Avango Technologies, they are ready to buy out Broadcom for a whopping $37 billion. That is a huge amount of money that you could probably buy anything you ever wanted with, and Bloomberg says it is the biggest tech deal to ever be made. Avango said that after the deal is done, the combined worth of the companies will be $77 billion.

The new company is going to be called Broadcom LTd, and it will be headed by Hock Tan, the CEO of Avango. Right behind companies like Intel, Samsung, TSMC, Qualcomm, and Micron, Broadcom would be the 6th largest semiconductor company in the world.

Many people don't really know about Avango, but they started out as a division of Hewlett-Packard before they split off into their own company years later. And everyone is pretty familiar with HP. Avango specializes in offering products for wireless communications, wired infrastructure, enterprise storage, and industrial applications. Broadcom is mainly known for their chips for communications devices and for their video solutions. They also make the chips for the popular Raspberry Pi computers.

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The chip industry has already been privy to big moves like this. Just a couple of months ago NXP announced that it was planning on acquiring Freescale for just under $17 billion. It's too soon to see how the chip industry will be affected or what's to come from this new acquisition but as soon as details drop you'll find them here on A Computer Blog.

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Intel Profits Up this Quarter

In this day and time, we're so used to seeing companies talk about how much money they aren't making and employees they aren't hiring, but for Intel, that doesn't appear to be the case. The world's largest computer chip maker announced last week that it has nearly quadrupled its quarterly net profit and has intentions to hire between 1,000 and 2,000 new employees in 2,010.

In a conference call with analysts, Intel Chief Executive Paul Otellini said, "The industry has nearly fully recovered." He also accredits the increase in revenue to a higher demand for PC products and the fact that "the average fleet of notebooks is four years old, the average fleet of desktops is five years old." According to Otellini, "it makes business sense" to get new inventory now.

The comapany's profit for the first quarter (which ended on March 27) was about 2.4 billion dollars, up from this time, last year's 647 million dollars. Revenue rose 44% to 10.3 billion dollars. Wall Street had predicted 9.8 billion dollars, while the company itself had predicted 9.3 billion dollars.

Otellini also said in a statement, "looking forward, we're optimistic about our business as Intel products are designed into a variety of new and exciting segments."

The company has predicted 9.8 to 10.6 billion dollars for the second quarter, while Wall Street analysts have precited 9.69 billion.

Intel has already hired 100 employees this year. The company is based is Santa Monica and employs nearly 80,000 people (about 3,000 less than last year.

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