The chipmaker Avago Technologies has completed its aquisition of Irvine-based Broadcom, a deal that was announced last May.
The Singapore-based Avago bought Broadcom for $37 billion in cash and stock. The combined company, which has been renamed Broadcom Limited, will trade under the Nasdaq ticker symbol AVGO.
Shares were trading up 3 percent midday Monday to $137.98.
The companies have little overlap but will likely offer a range of products to communications companies while gaining greater negotiating power with manufacturers. Broadcom’s semiconductors are used in iPhones, set-top boxes for cable television and other devices, for $37 billion in cash and stock. The combined company would have annual revenue of about $15 billion.
“The combination of Avago and Broadcom creates a global diversified leader in wired and wireless communication semiconductors, ” Hock E. Tan, the Avago president and chief executive, said in a news release last year. “Avago has established a strong track record of successfully integrating companies onto its platform.”
Broadcom was founded in 1991 by Henry Samueli, a professor at the UCLA, and Henry Nicholas III, who left the company in 2003. Samueli, the owner of the Anaheim Ducks hockey team, serves as Broadcom’s chairman and chief technology officer.
Avago, which has headquarters in Singapore and in San Jose, employed about 8, 400 people as of the beginning of November 2014.