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- 1. COMPANY PROFILE Broadcom Limited REFERENCE CODE: 06A8D300BF404834B38AE48FBF4CD49B PUBLICATION DATE: 27 Apr 2018 www.marketline.com COPYRIGHT MARKETLINE. THIS CONTENT IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED OR DISTRIBUTED A Progressive Digital Media business
- 2. Broadcom Limited TABLE OF CONTENTS Broadcom Limited © MarketLine Page 2 TABLE OF CONTENTS Company Overview ........................................................................................................3 Key Facts.........................................................................................................................3 Business Description .....................................................................................................4 History .............................................................................................................................6 Key Employees .............................................................................................................13 Key Employee Biographies .........................................................................................16 Major Products & Services ..........................................................................................22 SWOT Analysis .............................................................................................................23 Top Competitors ...........................................................................................................28 Company View ..............................................................................................................29 Locations And Subsidiaries ........................................................................................32
- 3. Broadcom Limited Company Overview Broadcom Limited © MarketLine Page 3 Company Overview COMPANY OVERVIEW Broadcom Limited (Broadcom) is a developer and supplier of a broad range of complex digital and mixed signal complementary metal oxide semiconductor based devices and analog IIIV based products. The company’s other offerings include semiconductors for settop/cable modem termination system, cable modems, and passive optical network/digital subscriber line, Ethernet network interface controllers, filters and amplifiers, applicationspecific integrated circuit, wireless connectivity solutions, embedded processors, hard disk drive/solid state drives controllers, data center switches and routers, optical isolation/motion encoders/light emitting diodes, and fiber optic solutions. The company sells its products to a wide variety of OEMs, contract manufacturers, distributors and end customers. It primarily operates across Asia, the Americas and Europe. Broadcom is headquartered in Singapore. The company reported revenues of (US Dollars) US$17,636 million for the fiscal year ended October 2017 (FY2017), an increase of 33.2% over FY2016. The operating profit of the company was US$2,217 million in FY2017, compared to an operating loss of US$532 million in FY2016. The net profit of the company was US$1,692 million in FY2017, compared to a net loss of US$1,739 million in FY2016. The company reported revenues of US$5,327 million for the second quarter ended February 2018, an increase of 10% over the previous quarter. Key Facts KEY FACTS Head Office Broadcom Limited 1 Yishun Avenue 7 Singapore City Singapore City SGP Phone 65 6 7557888 Fax Web Address www.broadcom.com Revenue / turnover (USD Mn) 17,636.0 Financial Year End October Employees 14,000 NASDAQ Ticker AVGO
- 4. Broadcom Limited Business Description Broadcom Limited © MarketLine Page 4 Business Description BUSINESS DESCRIPTION Broadcom Limited (Broadcom) is a designer, developer and supplier of a range of semiconductors including complex digital and mixed signal complementary metal oxide semiconductor (CMOS) based devices and analog IIIV based products. The company’s products and solutions are used in enterprise and data center networking, home connectivity, broadband access, telecommunications equipment, smartphones, data center servers and storage, factory automation, power generation and alternative energy systems, and electronic displays. The company primarily operates in China, the US, Singapore, and other countries. The company operates through four reportable segments aligned with its principal target markets: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial and Other. The company’s Wired Infrastructure segment provides semiconductor solutions for settop boxes and the digital subscriber line, cable and fiber broadband access markets. The segment also provides a broad set of standard Ethernet switching technology to deliver systemonchip (SoCs), for high performance compute applications, supplies high speed serializer/deserializer technology integrated into application specific integrated circuits (ASICs). The company also offers transceivers that receive and transmit Ethernet data packets along copper wire or optical fibers. In addition, Broadcom provides optical laser and receiver components to the storage, Ethernet networking, access, metro and longhaul telecommunication markets. In FY2017, the Wired Infrastructure segment reported revenues of US$8,549 million, which accounted for 48.5% of the company's total revenue. Through the Wireless Communication segment, the company offers a variety of radio frequency (RF) semiconductor devices that amplify, and filter, RF signals. The company's portfolio of products includes front end modules (FEMs) that incorporate multiple die into multifunction RF devices; duplexers and multiplexers, which are a combination of a transmit and a receive filter in a single device. The segment’s products are primarily used in smartphones and tablets. In addition to RF devices, the company provides optoelectronic sensors for mobile handset applications. In FY2017, the Wireless Communications segment reported revenues of US$5,404 million, which accounted for 30.6% of the company's total revenue. Broadcom’s Enterprise Storage segment offers products that are designed to enable secure movement of digital data to and from host machines such as servers, personal computers and storage systems to the underlying storage devices including hard disk drives (HDDs) and solid state drives (SSDs). The segment provides read channelbased system on chip (SoCs) and preamplifiers to HDD original equipment manufacturer (OEMs). In addition, the company supplies custom flash controllers to SSD OEMs, and serial attached small computer system interface (SCSI) (SAS) and redundant array of independent disks (RAID) controller and adapter solutions to server and storage system OEMs. Further, the company provides fibre channel host bus adapters which connect servers to fibre channel storage area networks (FCSANs). In FY2017, the Enterprise Storage segment reported revenues of US$2,799 million, which accounted for 15.9% of the company's total revenue. The Industrial and Other segment of the company offers a range of products for the general industrial and automotive markets. It offers optical isolators or optocouplers, which provide electrical insulation and
- 5. Broadcom Limited Business Description Broadcom Limited © MarketLine Page 5 signal isolation. For industrial motors and robotic motion control, Broadcom offers optical encoders, as well as ICs for the controller and decoder functions. For electronic signs and signals, it supplies light emitting diode (LED) assemblies to support traffic signals, commercial signs and other displays. For industrial networking, the company provides optical transceivers that enable quick and interoperable networking and factory automation. This segment also includes IP licensing business of the company. In FY2017, the Industrial and Other segment reported revenues of US$884 million, which accounted for 5% of the company's total revenue. Geographically, the company classifies its operations into four regions: China, the US, Singapore and Other. In FY2017, China region accounted for 53.7% of the company's total revenues, followed by the US with 7.2%, Singapore with 1.8%, and Other with 37.3%.
- 6. Broadcom Limited History Broadcom Limited © MarketLine Page 6 History HISTORY New Products/Services Year: 2018 In February, the company launched 5G Radio Switch, BCM56670, a Broadcom Monterey Ethernet switch. Acquisitions/Mergers/Takeovers Year: 2017 In November, the company acquired Brocade Communications Systems. New Products/Services Year: 2017 In August, the company introduced Max WiFi, 802.11ax Solutions. New Products/Services Year: 2017 In November, the company launched U.3, a server reference platform with SFFTA1001 specification that can be used to provide low cost storage technologies. Contracts/Agreements Year: 2017 Extreme Networks and Broadcom entered into an agreement for Extreme to acquire Brocade Communications Systems' data center switching, routing, and analytics business from Broadcom following Broadcom's acquisition of Brocade. Brocade's data center networking business will be sold to Extreme for $55 million in cash comprising $35 million at closing and $20 million in deferred payments. Contracts/Agreements Year: 2017 ARRIS and Broadcom entered into an agreement for ARRIS to acquire Ruckus Wireless and ICX Switch business, part of Brocade Communication Systems for cash consideration of $800 million.
- 7. Broadcom Limited History Broadcom Limited © MarketLine Page 7 Contracts/Agreements Year: 2016 The company entered into a definitive agreement to acquire Brocade, a leader in Fibre Channel storage area network switching and IP networking, in an allcash transaction valued at approximately $5.5 billion, plus $0.4 billion of net debt. The acquisition is expected to strengthen Broadcom’s portfolio of enterprise storage and networking solutions serving OEM customers. Acquisitions/Mergers/Takeovers Year: 2016 Broadcom Limited (Broadcom or “the company”) completed its acquisition of Avago pursuant to a scheme of arrangement under Singapore law, in February 2016. As part of the deal, Avago changed its name to Broadcom Limited. Contracts/Agreements Year: 2016 Cypress Semiconductor agreed to acquire Broadcom's Wireless Internet of Things (IoT) business and related assets in an allcash transaction valued at $550 million. Under the terms of the deal, Cypress will acquire Broadcom's WiFi, Bluetooth and Zigbee IoT product lines and intellectual property, along with its WICED brand and developer ecosystem. Contracts/Agreements Year: 2015 The company entered into a definitive agreement to acquire Broadcom Corporation, a provider of semiconductor solutions for wired and wireless communications for approximately $37 billion, including $17 billion in cash and $20 billion in stock. Acquisitions/Mergers/Takeovers Year: 2015 The company acquired Emulex in an allcash transaction valued at $606 million. The acquisition is expected to strengthen the company's portfolio serving the enterprise storage end market. New Products/Services Year: 2015
- 8. Broadcom Limited History Broadcom Limited © MarketLine Page 8 The company introduced two new shared storage solutions, Syncro 93808e, Syncro 93618i, with 12 Gbps SAS technology. Subsequently, the company introduced two new sets of gate drive optocoupler devices, 1.0A and 2.5A, designed to protect and drive the power semiconductors, which are used in power inverters, motor drives, and switching power supplies (SPS). New Products/Services Year: 2015 The company introduced 100G transceiver module devices, the AFBR89CDDZ and AFCT8450Z for 100GbE shortrange data center interconnects and for 100GbE long range data communications respectively. Subsequently, the company introduced new microintegrated tunable laser assembly (Micro ITLA) device, the AFCUUITLAXX, designed for both the transmission and local oscillator laser in coherent applications. Acquisitions/Mergers/Takeovers Year: 2015 The company completed its previously announced acquisition of Emulex. The acquisition is expected to create a global diversified leader in wired and wireless communication semiconductors. New Products/Services Year: 2015 The company introduced a new series of high resolution threechannel optical incremental encoder modules, the AEDT981x for industrial motion control applications including direct current (DC) servo motors, linear and rotary actuators, factory automation equipment, three dimensional (3D) printers, robotics and drones. Others Year: 2014 Dell selected the company's 12 Gigabits per second (Gbps) SAS technology for use in its Dell PowerEdge RAID Controllers (PERC9) for their 13th generation PowerEdge servers to deliver new level of storage management. New Products/Services Year: 2014 The company introduced an optocouplerbased photovoltaic driver device, ACPLK30T, designed to drive
- 9. Broadcom Limited History Broadcom Limited © MarketLine Page 9 high voltage metal oxide semiconductor field effect transistor (MOSFET) and withstand extreme heat for automotive underthehood applications. Divestiture Year: 2014 Avago completed its previously announced sale of LSI's Axxia networking business and related assets to Intel for $650 million. Corporate Changes/Expansions Year: 2014 The company expanded its industry family of 12 Gbps SAS Host Bus Adapters (HBAs) by introducing new 16port solutions, 930016i HBA. Contracts/Agreements Year: 2014 Avago agreed to sell LSI's Axxia Networking Business and related assets to Intel for $650 million. Subsequently, Avago in collaboration with Supermicro and VMware demonstrated a virtual hybrid cloud. The solution designed for multiple workloads is enabled by the combination of Avago and Supermicro enterpriseclass server hardware running VMware Virtual SAN software. Contracts/Agreements Year: 2014 The company entered into a definitive asset purchase agreement under which Seagate agreed to acquire the assets of LSI's Accelerated Solutions Division (ASD) and Flash Components Division (FCD) for $450 million in cash. Acquisitions/Mergers/Takeovers Year: 2014 The company acquired PLX Technology, a developer of PCI Express silicon and software connectivity solutions, in an allcash transaction valued at approximately $309 million. Acquisitions/Mergers/Takeovers Year: 2014
- 10. Broadcom Limited History Broadcom Limited © MarketLine Page 10 The company acquired LSI Corporation in an allcash transaction valued at $6.6 billion. This acquisition creates a diversified semiconductor company with approximately $5 billion in projected annual revenues. Acquisitions/Mergers/Takeovers Year: 2013 The company acquired Javelin Semiconductor, a developer of high performance radio frequency (RF) and mixed signal CMOS integrated circuits (ICs) for wireless communications. The company acquired CyOptics, an optical chip and component technologies provider. New Products/Services Year: 2012 Avago introduced precision optical Isolation amplifiers optimized for voltage sensing. It also introduced Vortex Gearbox family of 28nm CMOS 100G Ethernet/OTN PHYs. New Products/Services Year: 2011 The company introduced threechannel reflective encoder and halleffect magnetic encoder for industrial applications. New Products/Services Year: 2010 Avago introduced new miniature optical finger navigation input system for cell phones and portable electronic devices. In the same year, the company introduced a 4G/LTE Band 7 duplexer, bringing optimized quality of voice service and battery life of FBAR technology to emerging mobile handsets and data terminals. Stock Listings/IPO Year: 2009 The company's shares were listed on the NASDAQ under the symbol AVGO. New Products/Services Year: 2009 The company introduced direct current (DC) to 80 gigahertz (GHz) traveling wave amplifier for microwave
- 11. Broadcom Limited History Broadcom Limited © MarketLine Page 11 radio systems and satellite very small aperture terminals (VSAT) applications. Acquisitions/Mergers/Takeovers Year: 2008 Avago acquired bulk acoustic wave (BAW) business from Infineon. In the same year, the company acquired Nemicon to complement its motion control product line. Acquisitions/Mergers/Takeovers Year: 2007 The company acquired fiber business from Infineon. Corporate Changes/Expansions Year: 2005 Avago was incorporated under the laws of the Republic of Singapore. Acquisitions/Mergers/Takeovers Year: 2002 The company acquired RedSwitch and added InfiniBand and RapidIO to its product portfolio. Corporate Changes/Expansions Year: 1990 The company formed Semiconductor Products Group to increase leverage of core semiconductor competencies to fulfill customer requirements across a broad range of emerging technologies and standards. New Products/Services Year: 1970 Avago introduced fiber optic transmitters and receivers for data communications during 1970s. Incorporation/Establishment Year: 1961
- 12. Broadcom Limited History Broadcom Limited © MarketLine Page 12 Avago Technologies Limited (Avago or "the company") was founded. New Products/Services Year: 1960 The company introduced the first commercially available lightemitting diode (LED) dot matrix displays.
- 13. Broadcom Limited Key Employees Broadcom Limited © MarketLine Page 13 Key Employees KEY EMPLOYEES Name Job Title Board Compensation James V. Diller Chairman Executive Board 940391 USD Mark Gonikberg General ManagerWireless Communications and Connectivity, Senior Vice President Senior Management Jack Rondoni General ManagerBrocade Storage Networking Division, Senior Vice President Senior Management Thomas H. Krause Jr Chief Financial Officer Senior Management 11138213 USD Gayla J. Delly Director Non Executive Board Mark D. Brazeal Chief Legal Officer Senior Management 6430854 USD Henry Samueli Director, Chief Technical Officer Executive Board USD Lewis C. Eggebrecht Director Non Executive Board 283041 USD Kenneth Y. Hao Director Non Executive Board 477041 USD Donald Macleod Director Non Executive Board 313041 USD Peter J. Marks Director Non Executive Board 288541 USD Eddy Hartenstein Director Non Executive Board 298541 USD Check Kian Low Director Non Executive Board 322001 USD Hock E. Tan Chief Executive Officer, Director, President Executive Board 103211163 USD Boon Chye Ooi Senior Vice PresidentGlobal Operations Senior Management Charlie B. Kawwas Senior Vice PresidentChief Sales Officer Senior Management 8500167 USD Frank Ostojic General ManagerASIC Products Division , Senior Vice President Senior Management Greg Fischer General ManagerBroadband Carrier Access Products Division , Senior Vice President Senior Management Ed Redmond General ManagerCompute and Connectivity Division , Senior Vice President Senior Management Lorenzo Longo General ManagerPhysical Layer Products Division , Senior Vice President Senior Management
- 14. Broadcom Limited Key Employees Broadcom Limited © MarketLine Page 14 Rich Nelson General ManagerSetTop Box and Cable Modem Products Division , Senior Vice President Senior Management Ram Velaga General ManagerSwitch Products Division , Senior Vice President Senior Management Bryan T. Ingram General ManagerWireless Semiconductor Division, Senior Vice President Senior Management 9076980 USD Yuan Xing Lee Vice PresidentCentral Engineering Senior Management Andy Nallappan Chief Information Officer Global Information Technology, Vice President Senior Management Patrick Henderson Vice PresidentCoGeneral Manager, Mixed Signal ASICs Products Division Senior Management Myles Wakayama Vice PresidentCoGeneral Manager, Mixed Signal ASICs Products Division Senior Management Kirsten M. Spears Vice PresidentCorporate Controller and Principal Accounting Officer Senior Management Jas Tremblay Vice PresidentGeneral Manager, Data Center Solutions Group Senior Management Dan Fisher General ManagerData Controller Division , Vice President Senior Management Jeff Hoogenboom Vice PresidentGeneral Manager, Emulex Connectivity Division Senior Management Mitchell Fields General ManagerFiber Optics Products Division , Vice President Senior Management Martin Weigert Vice PresidentGeneral Manager, Industrial Fiber Products Division Senior Management Jeyhan Karaoguz Vice PresidentGeneral Manager, Intellectual Property Senior Management Mark Terrano Vice PresidentGeneral Manager, Intellectual Property and Licensing Senior Management
- 15. Broadcom Limited Key Employees Broadcom Limited © MarketLine Page 15 Gary Tay Vice PresidentGeneral Manager, Isolation Products Division Senior Management Hassan Hussain Vice PresidentGeneral Manager, Motion Control Products Division Senior Management Fatt Lun Ho Vice PresidentGeneral Manager, Optoelectronic Products Division Senior Management Sally Doherty General ManagerPreAmp Components Division , Vice President Senior Management Ivy Pong Vice PresidentGlobal Taxation Senior Management Debbie Streeter Vice PresidentHuman Resources Senior Management AhChee Neo Vice PresidentWorldwide Quality Senior Management
- 16. Broadcom Limited Key Employee Biographies Broadcom Limited © MarketLine Page 16 Key Employee Biographies KEY EMPLOYEE BIOGRAPHIES James V. Diller Board:Executive Board Job Title:Chairman Since:2006 Age:82 James V. Diller has been the Chairman of the Board at Broadcom since 2006. Mr. Diller was a Founder at PMCSierra (PMC) and served as its Chief Executive Officer from 1983 to 1997. He was the Chairman of the Board of Directors at PMC from 1993 to 2000, and also was the Vice Chairman from 2000 to 2013. Mr. Diller served as a Director at Intersil from 2002 to 2015 and as Interim President and Chief Executive Officer from 2012 to 2013. He held various positions in the semiconductor industry including the Chief Executive Officer, President and General Manager and Chairman of the board of directors, and a Product Development Engineer. Thomas H. Krause Jr Board:Senior Management Job Title:Chief Financial Officer Since:2016 Age:40 Mr. Krause has been the Chief Financial Officer at Broadcom since 2016. Previously, Mr. Krause ran his own financial advisory firm where he represented several public and private technology companies. Prior to this, he served as the Vice President of Business Development at Techwell. Mark D. Brazeal Board:Senior Management Job Title:Chief Legal Officer Mr. Brazeal currently serves as the Chief Legal Officer at Broadcom. Prior to his current role, Mr. Brazeal served as the Chief Legal Officer and Senior Vice President of IP Licensing at SanDisk. Prior to SanDisk, he held various positions at the company including the Senior Vice President and Senior Deputy General Counsel. Henry Samueli Board:Executive Board Job Title:Director, Chief Technical Officer Since:2016
- 17. Broadcom Limited Key Employee Biographies Broadcom Limited © MarketLine Page 17 Age:63 Mr. Henry Samueli has been the Chief Technical Officer at Broadcom since 2016. Prior to his current role, Dr. Samueli was the CoFounder and Chief Technical Officer at Broadcom. He served as the Vice President of Research and Development at Broadcom from 1991 to 2003 and a Technology Advisor from 2008 to 2009. Dr. Samueli serves as a Distinguished Adjunct Professor at the University of California, Los Angeles and Distinguished Adjunct Professor in the Electrical Engineering and Computer Science Department at the University of California, Irvine. Previously, he was the Chief Scientist and a Founder at PairGain Technologies. Dr. Samueli held a variety of engineering management positions in the Electronics and Technology Division at TRW from 1980 to 1985. He served as the Chairman/CoChairman of the Board of Directors at BRCM from 1991 to 2008 and from 2011 to 2016. Lewis C. Eggebrecht Board:Non Executive Board Job Title:Director Since:2017 Age:74 Lewis C. Eggebrecht has been a Director at Broadcom since 2017. Mr. Eggebrecht served as the Vice President and Chief Scientist at Integrated Circuit Systems from 1998 to 2003. He held several technical and executive management positions at various organizations including as the Chief Multimedia Architect at Phillips Semiconductor Manufacturing, as the Graphics Architect at S3 Graphics, as the Vice President of Research and Development at Commodore International. Mr. Eggebrecht served as a Small Systems Architect, and a Chief Architect and Design Team Leader at International Business Machines (IBM). He served on the board of directors of a number of public and private companies, including, as a Director at Integrated Device Technology from 2005 to 2012, and as a Director at ICS from 2003 to 2005. Kenneth Y. Hao Board:Non Executive Board Job Title:Director Since:2005 Age:49 Kenneth Y. Hao has been a Director at Broadcom since 2005. Mr. Hao is a Managing Partner and Managing Director at Silver Lake. Prior to joining Silver Lake in 2000, he served as the Managing Director at Hambrecht & Quist. Mr. Hao serves as a Director at Silver Lake's portfolio companies, including Symantec. Donald Macleod Board:Non Executive Board Job Title:Director Since:2007 Age:69
- 18. Broadcom Limited Key Employee Biographies Broadcom Limited © MarketLine Page 18 Donald Macleod has been a Director at Broadcom since 2007. Mr. Macleod serves on the Board of Directors at Knowles. Mr. Macleod was the President and Chief Executive Officer at National Semiconductor from 2009 to 2011. Prior to that, he was the President and Chief Operating Officer at National Semiconductor from 2005 to 2009 and also was its Executive Vice President of Finance and Chief Financial Officer. Mr. Macleod served as the Chairman of the Board of Directors at National Semiconductor from 2010 to 2011. He serves as the Chairman of the Board of Directors at Intersil. Peter J. Marks Board:Non Executive Board Job Title:Director Since:2013 Age:64 Peter J. Marks has been a Director at Broadcom since 2013. Mr. Marks is the Chief Executive Officer at Executive Consultant, which he founded in 2013. Prior to that, he served as the Chairman, President and Chief Executive Officer at Robert Bosch from 2006 to 2011 and also was its senior executive for various divisions; automotive electronics, semiconductors, body electronics/electric drivers and energy systems. Eddy Hartenstein Board:Non Executive Board Job Title:Director Since:2016 Age:67 Eddy Hartenstein has been a Director at Broadcom since 2016. Mr. Hartenstein was the publisher and Chief Executive Officer at the Los Angeles Times from 2008 to 2014. Mr. Hartenstein served as the Co President at Tribune Company from 2010 to 2011 and as the President and Chief Executive Officer from 2011 to 2013. Previously, he was the Vice Chairman and a Member of the Board of Directors at DIRECTV from 2003 until 2004. Mr. Hartenstein served as the Chairman and Chief Executive Officer at DIRECTV from 2001 to 2004 and as the President from 1990 to 2001. He currently serves as a non executive Chairman of the board at tronc; and the Lead Independent Director of the board at SIRIUS XM Holdings; a Director on the board at TiVo. Mr. Hartenstein also served as a Director at Broadcom from 2008 to 2016; SanDisk from 2005 to 2016; Rovi from 2005 to 2016 and Yahoo from 2016 to 2017. Check Kian Low Board:Non Executive Board Job Title:Director Since:2016 Age:58 Check Kian Low has been a Director at Broadcom since 2016. Mr. Low was a Founding Partner and a Director at NewSmith Capital Partners. He is an Owner, and served as a Director at Cluny Capital Limited
- 19. Broadcom Limited Key Employee Biographies Broadcom Limited © MarketLine Page 19 (BVI). Prior to this, Mr. Low served as the Senior VicePresident at Merrill Lynch, and the Chairman for the Asia Pacific Region. He serves as the Lead Independent Director at Singapore Telecommunications. Mr. Low served as a Director at Neptune Orient Lines from 2011 to 2016, Fibrechem Technologies from 2005 to 2012 and Singapore Exchange from 2000 to 2011. Hock E. Tan Board:Executive Board Job Title:Chief Executive Officer, Director, President Since:2006 Age:66 Mr. Hock E. Tan has been the President and Chief Executive Officer at Broadcom since 2006. Mr. Tan served as the Chairman of the Board of Directors at Integrated Device Technology (IDT) from 2005 to 2008. Prior to that, he served as the President and Chief Executive Officer at Integrated Circuit Systems (ICS), from 1999 to 2005. Prior to ICS, Mr. Tan was the Vice President of Finance at Commodore International from 1992 to 1994. He previously held several senior management positions at PepsiCo and at General Motors. Mr. Tan was a Managing Director at Pacven Investment from 1988 to 1992 and at Hume Industries from 1983 to 1988. Boon Chye Ooi Board:Senior Management Job Title:Senior Vice PresidentGlobal Operations Since:2009 Boon Chye Ooi has been the Senior Vice President of Global Operations at Broadcom since 2009. Mr. Ooi was the Senior Vice President of Worldwide Operations at Xilinx from 2003 to 2008. Prior to Xilinx, he held various management positions at Intel. Charlie B. Kawwas Board:Senior Management Job Title:Senior Vice PresidentChief Sales Officer Since:2015 Age:47 Mr. Kawwas has been the Senior Vice President and Chief Sales Officer at Broadcom since 2015. Dr. Kawwas joined the company through the acquisition of LSI, where he was the Head of Worldwide Sales. He held several roles at LSI including the Vice President of Sales and Marketing for the Networking Division and the Vice President of Marketing for the networking and storage product group. Before joining LSI, Dr. Kawwas was the Leader of Product Line Management for the Optical Ethernet and Multiservice Edge portfolio at Nortel. Bryan T. Ingram
- 20. Broadcom Limited Key Employee Biographies Broadcom Limited © MarketLine Page 20 Board:Senior Management Job Title:General ManagerWireless Semiconductor Division, Senior Vice President Since:2015 Age:53 Mr. Ingram has been the Senior Vice President and General Manager of Wireless Semiconductor Division at Broadcom since 2015. Mr. Ingram served as the Chief Operating Officer at Avago Technologies from 2013 to 2015. He served as the Senior Vice President and General Manager of Wireless Semiconductor Division (WSD) at the company from 2007 to 2013. Mr. Ingram was the Vice President of WSD. He was the Vice President and General Manager of the SPG Wireless Semiconductor Division at Agilent Semiconductor Products. Yuan Xing Lee Board:Senior Management Job Title:Vice PresidentCentral Engineering Yuan Xing Lee currently serves as the Vice President of Central Engineering at Broadcom. Prior to this, Mr. Lee served as the Vice President of Engineering for the Data Controller Division at the company. He also held senior technical and management positions at LSI, Hitachi GST, IBM and Singapore’s Data Storage Institute. Andy Nallappan Board:Senior Management Job Title:Chief Information OfficerGlobal Information Technology, Vice President Andy Nallappan currently serves as the Vice President and Chief Information Officer of Global Information Technology at Broadcom. Mr. Nallappan held several key management roles overseeing enterprise applications, enterprise infrastructure and R&D computing at HewlettPackard (HP), Agilent and Avago. Kirsten M. Spears Board:Senior Management Job Title:Vice PresidentCorporate Controller and Principal Accounting Officer Since:2016 Age:53 Ms. Spears has been the Vice President, Corporate Controller and Principal Accounting Officer at Broadcom since 2016. Previously, Ms. Spears was the Vice President and Corporate Controller at LSI. She joined LSI in 1997 and held a number of management positions in accounting and reporting before becoming the Corporate Controller in 2007. Before LSI, Ms. Spears worked at PriceWaterhouseCooper and Bank of America. Ivy Pong
- 21. Broadcom Limited Key Employee Biographies Broadcom Limited © MarketLine Page 21 Board:Senior Management Job Title:Vice PresidentGlobal Taxation Since:2008 Ivy Pong has been the Vice President of Global Taxation at Broadcom since 2008. Ms. Pong served at KLATencor and Altera. She started her career at PricewaterhouseCoopers. Ah-Chee Neo Board:Senior Management Job Title:Vice PresidentWorldwide Quality AhChee Neo currently serves as the Vice President, Worldwide Quality at Broadcom. Mr. Neo was the Quality Manager at Agilent’s Semiconductor Products Group. Prior to Agilent, he worked at Bell Labs, AT&T and Lucent in various supply chain and quality roles in Asia Pacific region.
- 22. Broadcom Limited Major Products & Services Broadcom Limited © MarketLine Page 22 Major Products & Services MAJOR PRODUCTS & SERVICES Broadcom Limited (Broadcom) is a global semiconductor company. The company's key products include the following: Products: Wireless Communications: Radio frequency (RF) power amplifiers RF filters RF front end modules (FEMs) Duplexers Multiplexerse Optoelectronic sensors Wired Infrastructure: Ethernet switching technology Serializer/deserializer (SerDes) technology Applicationspecific integrated circuit (ASIC) solutions Optical laser and receiver components Enterprise Storage: Systemonchip (SoCs) Pre amplifiers Custom flash controllers Small Computer System Interface (SCSI) Redundant array of independent disk (RAID) controllers and adapters Industrial and other: Optical isolators Optocouplers Industrial fiber optics Optical encoders Optical transceivers
- 23. Broadcom Limited SWOT Analysis Broadcom Limited © MarketLine Page 23 SWOT Analysis SWOT ANALYSIS Broadcom Limited (Broadcom) is a developer and global supplier of a broad range of semiconductor devices. The company's strong focus on innovation and research and development (R&D) provides a competitive advantage by enabling it to launch products that effectively enhance revenues and market share. However, intense competition may adversely affect the company's market share and revenues in the coming years. Strength Strong Financial Performance Global Footprint Strong Focus on R&D Weakness Concentrated Customer Base Opportunity Growing LTE Adoption Positive Outlook for Mobile Phones Market Positive Outlook for Semiconductor Market Threat Dependence on Contract Manufacturing and Outsourcing of Supply Chain Short Life Cycles and Rapid Technological Changes Intense Competition Strength Strong Financial Performance Broadcom exhibited an increase in the financial performance in FY2017. Strong financial performance enables the company’s ability to provide higher returns to its shareholders and also increases its ability to allocate adequate funds for future growth initiatives. In FY2017, the company generated revenues of US$17,636 million as compared to US$13,240 million in FY2016, with an annual growth of 33.2% over FY2016. The increase in annual revenue was primarily due to the full year contribution from acquired BRCM products, as well as strong organic yearoveryear growth. The company reported an operating income of US$2,217 million as compared to an operating loss of US$532 million in FY2016. The company reported a net income of US$1,692 million in FY2017 as compared to a net loss of US$1,739 million in FY2016. Global Footprint Broadcom has a diversified global presence. The company through its design, technology transfer and manufacturing stages across all geographies is well positioned to serve its customers globally. Broadcom has a number of sales offices located in various countries, with a significant presence in Asia, which is a key center of the worldwide electronics supply chain. Many of the company's customers design products in North America or Europe that are then manufactured in Asia. In addition, the company has regional customer support call centers, where the company addresses customer issues and handle logistics and
- 24. Broadcom Limited SWOT Analysis Broadcom Limited © MarketLine Page 24 other order fulfillment requirements. In addition, the company witnessed strong growth across all geographic markets. For instance in FY2017, China, Broadcom’s largest geographic market witnessed a growth of 31.7% over FY2016. Furthermore, revenues from the US, Singapore and Other geographies grew by 12.6%, 29.2%, and 40.7%, respectively. The company's widespread footprint reduces its exposure to risks associated with operating in a particular market. It also provides Broadcom with benefits such as cost reductions through economies of scale. In addition, this geographic diversity provides proximity to customers, enabling the development of close relationships. Strong Focus on R&D Broadcom is committed to continuous investment in product development, with a focus on introducing new, proprietary products. The company’s research and development (R&D) efforts allowed it to develop several innovative products, which provided it with significant competitive advantages in certain target markets. Broadcom has a history of developing innovative technologies. Strong focus on R&D has allowed the company to develop innovative, sustainable and higher value product platforms which provided significant competitive advantages over its peers. In addition, continuous introduction of products allowed Broadcom to build strong reputation in the market. As of October 2017, Broadcom had 24,250 US and other patents and 2,061 US and other pending patent applications. It is working on approximately 150 new patent applications per year, related to a wide range of ASIC, isolation, encoder, LED, RF and optoelectronic components, enterprise storage products, HDD silicon, PCIe, USB and other standard I/O devices, Ethernet and FibreChannel connectivity and controllers, settop box SoCs, cable modem SoCs, broadband access SoCs, wireless connectivity SoCs, switching/routing SoCs, high performance processor SoCs and associated applications. Continued innovation and reputation will allow the company to earn attractive margins by developing high valueadd products. Weakness Concentrated Customer Base The company has highly concentrated customer base. It is dependent on reasonably small number of direct customers, OEMs, contract manufacturers and distributors for a majority of its business, revenue and results of operations. In FY2017, direct sales to Foxconn accounted for 14% of the company’s net revenue and top five direct customers, through all channels, collectively accounted for 40% of net revenue. Also, the company’s aggregate sales to Apple when Broadcom’s direct sales to it are combined with sales to the contract manufacturers that it utilizes, accounted for more than 20% of the company’s net revenue. The customer concentration increases the risk of quarterly fluctuations in the operating results and sensitivity to any material, adverse developments experienced by the company's significant customers. Opportunity Growing LTE Adoption The outlook for the Long Term Evolution (LTE) adoption is robust primarily due to the increased demand
- 25. Broadcom Limited SWOT Analysis Broadcom Limited © MarketLine Page 25 for faster data rates and better spectral efficiency in the wake of heavy data usage, increased penetration of smart devices and the demand for quality services on the move. The growth in the market is further enhanced by the planned largescale adoption of LTE by operators in the Asia Pacific regions, primarily China. According to MarketLine, the number of LTE subscribers reached 2.6 billion in 2016 and is forecasted to reach 4.9 billion by the end of 2022 growing at a CAGR of 17.2%. Broadcom is keen to enhance its market share in the growing LTE market. The company's wireless communications business offers a variety of RF semiconductor devices, including FEMs, duplexers and multiplexers. The company also provides a variety of optoelectronic sensors for mobile handset applications. The company's robust LTE portfolio coupled with strong growth in the end market would provide incremental growth opportunities to enhance its revenues and market share in the coming years. Positive Outlook for Mobile Phones Market The mobile phones market is expected to grow at a robust pace in the near future. According to MarketLine, the global mobile phones market grew by 2.3% in 2017 to reach a value of US$315.1 billion. Furthermore, the industry is expected to grow at a CAGR of 10.0% for the 2017–22 period to reach a value of approximately US$346.6 billion in 2022. Key products offered by Broadcom for the smartphone market include RF power amplifiers, RF filters, RF FEMs, ambient light sensors and proximity sensors. Robust outlook for the smartphone market is expected to further boost the demand for the company's solutions thus increasing its sales in the coming years. Positive Outlook for Semiconductor Market Broadcom is one of the leading suppliers of semiconductor services globally. Strong growth prospect for the semiconductor industry could bring new growth avenue to the company. Concept of Internet of Things along with increasing demand for next generation of interconnected devices driving the growth for semiconductor market. Growing usage of mobile devices is acting as major catalyst for the market growth. According to MarketLine, the global semiconductors market reached a value of US$423.6 billion in 2017. Furthermore, the industry is expected to grow at a CAGR of 32.7% for the 2017–22 period to reach a value of approximately US$562.0 billion in 2022. Broadcomm is poised to benefit from this growth. Threat Dependence on Contract Manufacturing and Outsourcing of Supply Chain The company operates an outsourced manufacturing business model that principally utilizes thirdparty wafer foundry and module assembly and test capabilities. As a result, Broadcom is highly reliant on third party foundry wafer fabrication capacity, including singlesourcing for many components or products. Most of its products are designed to be manufactured in a specific process, typically at one particular foundry. The company also uses thirdparty contract manufacturers for a significant majority of assembly and test operations, including ASE Korea, Amkor Technology, Siliconware Precision Industries, UTAC Holdings, King Yuan Electronics and Inari Technology SDN. The ability and willingness of the contract manufacturers to perform is largely outside the control of the company. If one or more of its contract manufacturers or other outsourced providers fails to perform its obligations in a timely manner or at
- 26. Broadcom Limited SWOT Analysis Broadcom Limited © MarketLine Page 26 satisfactory quality levels, Broadcom's ability to bring products to market could suffer, thus affecting its reputation. Moreover, the company does not have any longterm supply contracts with its contract manufacturers or materials suppliers and may not be able to obtain the products or raw materials required for its business, which could have a material adverse effect on its business. Broadcom purchases a significant portion of its semiconductor materials and finished goods from a few materials providers and single source suppliers. The company's dependence on contract manufacturing and outsourcing of supply chain may adversely affect Broadcom's ability to bring products to market and damage its reputation. Additionally, it may also impair the company's ability to operate effectively. Short Life Cycles and Rapid Technological Changes The semiconductor industry is characterized with short life cycles and rapid technological changes. The advancements in the field will lead to higher substitutions and therefore products in the industry suffer short life cycles. Rapid changes in demand for its products reduce Broadcom’s ability to accurately estimate the future requirements of its customers. The company will find it difficult to schedule production and maximize utilization of manufacturing capacity. Replacing the production processes can result in inefficiencies and costs due to capacity constraints for new technology. Furthermore, the company has to make substantial investments in the development of capabilities, in resources such as R&D, technology licensing, test and tooling equipment, facility expansions and personnel requirements. Due to these investments, the profitability of operations generally lags the sales by considerable time. Fast pace of technology displacement will not give sufficient time to absorb the investments and will lead to lower profitability of operations. Short life cycles associated with end markets tend to impact the profitability of the company's operations. Rapid technological changes require high R&D investments and if the company is unable to commercialize new products, Broadcom will experience significant loss on invested capital. In addition, in an industry with such rapid changes, the company is constantly under the threat from its competitors developing technological advances faster. Intense Competition The global semiconductor industry is highly competitive. The company's competitors range from large, international companies offering a wide range of products to smaller companies specializing in niche markets. Broadcom competes with integrated device manufacturers (IDMs) and fabless semiconductor companies as well as the internal resources of large, integrated OEMs. The company competes on the basis of quality, technical performance, price, product features, product system compatibility, systemlevel design capability, engineering expertise, responsiveness to customers, new product innovation, product availability, delivery timing and reliability, and customer sales and technical support. In the wireless communications market, the company primarily competes with Murata Manufacturing, Qorvo, Qualcomm, Skyworks Solutions and TDKEPC. Broadcom competes based on its expertise in amplifier design, FBAR technology, module integration and proprietary material processes. In the wired infrastructure market, the company competes with Cavium, Intel, Finisar, GlobalFoundries, HiSilicon Technologies, Lumentum Operations, MACOM Technology Solutions Holdings, Marvell, Mediatek, Mellanox Technologies, Mitsubishi Electric, NXP Semiconductors, Quantenna, ST Microelectronics and Sumitomo. In addition, the company competes with Marvell Technology Group, Microsemi and Texas Instruments in the enterprise storage segment. Furthermore, in the industrial and other markets, the company competes with Analog Devices, Cree, Hamamatsu Photonics, Heidenhain, Renesas Electronics and Toshiba. Also, several of the company's competitors are well established, have a more extensive product portfolio, substantially
- 27. Broadcom Limited SWOT Analysis Broadcom Limited © MarketLine Page 27 greater market share, and manufacturing, financial, R&D and marketing resources to pursue development, engineering, manufacturing, marketing and distribution of their products. In addition, several of the company's competitors have longer independent operating histories, greater presence in key markets, larger customer base or more comprehensive patent protection. The competition in the markets in which the company operates is expected to increase as existing competitors improve or expand their product offerings and new companies enter the market. Intense competition may adversely impact the company's market share and revenues in the coming years.
- 28. Broadcom Limited Top Competitors Broadcom Limited © MarketLine Page 28 Top Competitors TOP COMPETITORS The following companies are the major competitors of Broadcom Limited Analog Devices, Inc. Cavium, Inc. Cree Inc Finisar Corporation GLOBALFOUNDRIES Singapore Pte Ltd. Hamamatsu Photonics K.K. Heidenhain HiSilicon Technologies Co., Ltd. Intel Corporation International Business Machines Corporation Lumentum Operations LLC MACOM Technology Solutions Holdings, Inc. Marvell Technology Group Ltd. MediaTek Inc. Mellanox Technologies UK, Ltd Microsemi Corp Murata Manufacturing Co., Ltd. NXP Semiconductors N.V. Qorvo Inc Qualcomm Incorporated Quantenna Communications, Inc. Renesas Electronics Corporation Skyworks Solutions, Inc. STMicroelectronics N.V. Texas Instruments Incorporated Toshiba Corporation
- 29. Broadcom Limited Company View Broadcom Limited © MarketLine Page 29 Company View COMPANY VIEW An excerpt from the 'Management's discussion and analysis of financial condition and results of operations' section is given below. The statement has been taken from the company's 10K filing for FY2017. Fiscal Year Highlights Highlights during fiscal year 2017 include the following: Our cash and cash equivalents were $11,204 million at October 29, 2017, compared with $3,097 million at October 30, 2016, which primarily included the net proceeds from the issuance of the October 2017 Senior Notes (defined below). We generated $6,551 million of cash from operations during fiscal year 2017. Broadcom paid aggregate cash dividends on its ordinary shares of $1,653 million, and the Partnership made aggregate distributions of $92 million on its Partnership REUs during fiscal year 2017. On January 19, 2017, we completed the issuance and sale of senior unsecured notes, or the January 2017 Senior Notes, in an aggregate principal amount of $13,550 million. The net proceeds, together with cash on hand, were used to repay all of the outstanding term loans under our guaranteed, collateralized credit agreement entered into on February 1, 2016, or the 2016 Credit Agreement, in the aggregate amount of $13,555 million. In addition, on October 17, 2017, we completed the issuance and sale of senior unsecured notes, or the October 2017 Senior Notes, in an aggregate principal amount of $4,000 million. The net proceeds, together with cash on hand, were used to finance the acquisition of Brocade Communication Systems, Inc., or Brocade, as discussed in detail below. Recent Developments U.S. 2017 Tax Reform Act On December 20, 2017, the Tax Cuts and Jobs Act, or the 2017 Tax Reform Act, was approved by Congress and is pending presidential approval. In general, the 2017 Tax Reform Act reduces the U.S. corporate income tax rate from 35% to 21%, effective in 2018. The 2017 Tax Reform Act moves from worldwide business taxation to a participation exemption regime. The 2017 Tax Reform Act also imposes baseerosion prevention measures on nonU.S. earnings of U.S. entities, as well as a onetime mandatory deemed repatriation tax on accumulated nonU.S. earnings of U.S. entities. The baseerosion prevention measures will have the effect of subjecting nonU.S. earnings of U.S. entities to taxation in the United States at an effective rate that is expected to be substantially lower than 21%. The 2017 Tax Reform Act will affect the tax position and cash taxes of our U.S. entities and will have a corresponding impact on our consolidated financial results starting in the first quarter of our fiscal year 2018. Acquisition of Brocade Communications Systems, Inc. On November 17, 2017, pursuant to the Agreement and Plan of Merger, by and among Broadcom, BRCM, Brocade, and Bobcat Merger Sub, Inc., or Merger Sub, which BRCM subsequently assigned to LSI Corporation on December 18, 2016, Merger Sub merged with and into Brocade with Brocade as the
- 30. Broadcom Limited Company View Broadcom Limited © MarketLine Page 30 surviving corporation, or the Brocade Merger. As a result, Brocade stockholders who did not perfect their appraisal rights with respect to the Brocade Merger received, in aggregate, approximately $5.3 billion in cash in exchange for all shares of Brocade common stock issued and outstanding immediately prior to the effective time of the Brocade Merger. We also paid $701 million to retire Brocade’s term loan. In addition, we assumed certain vested (to the extent not inthemoney) and all unvested Brocade stock options, restricted stock units, or RSUs, and performance stock units, or PSUs, held by continuing employees and service providers. All vested inthemoney Brocade stock options, after giving effect to any acceleration, and all other RSUs and PSUs were cashed out upon the Brocade Merger. As a result of the Brocade Merger, Brocade became an indirect subsidiary of the Partnership. We financed the Brocade Merger with the net proceeds from the October 2017 Senior Notes as discussed in further detail below under “Indebtedness,” as well as cash on hand. Divestiture of Brocade’s IP Networking Business Following the Brocade Merger, on December 1, 2017, we sold Brocade’s IP Networking business, including the Ruckus Wireless and ICX Switch businesses, to ARRIS International plc for cash consideration of $800 million, plus unvested assumed employee stock awards. Proposed Acquisition of Qualcomm Incorporated On November 6, 2017, we announced a proposal to acquire Qualcomm Incorporated, or Qualcomm, for $70.00 per share, consisting of $60.00 in cash and $10.00 in Broadcom ordinary shares. We stated that the proposal stands whether Qualcomm’s pending acquisition of NXP Semiconductors N.V., or NXP, is consummated on the thendisclosed terms of $110.00 per NXP share or is terminated. Including the assumption of net debt and giving effect to the pending NXP acquisition, the enterprise value of the proposed transaction is approximately $130 billion. On November 13, 2017, Qualcomm’s board of directors rejected our proposal. In response, we announced that we remained fully committed to pursuing the acquisition of Qualcomm and reiterated our proposal. On December 4, 2017, we announced that we had provided notice to Qualcomm of our intent to nominate 11 candidates for election to the Qualcomm board of directors at Qualcomm’s 2018 annual meeting of stockholders. On December 11, 2017, we filed preliminary proxy materials with the Securities and Exchange Commission, or the SEC, in connection with our planned solicitation of proxies to elect 11 independent, highly qualified nominees to the Qualcomm board of directors at Qualcomm’s 2018 annual meeting of stockholders, which Qualcomm has announced will be held on March 6, 2018. We also filed a premerger notification under the HartScottRodino Antitrust Improvements Act of 1976 with the U.S. Department of Justice and the Federal Trade Commission regarding our proposed acquisition of Qualcomm. No agreement has been reached with Qualcomm and there can be no assurance that any transaction will result from our proposal. Redomiciliation to the United States from Singapore On November 2, 2017, we announced our intention to initiate a process to change the ultimate parent company of the Broadcom group from a Singapore company to a U.S. corporation. The final form and timing of the redomiciliation has not yet been finalized and may be affected by the implementation of the
- 31. Broadcom Limited Company View Broadcom Limited © MarketLine Page 31 2017 Tax Reform Act. In addition, the redomiciliation is subject to the approval of our shareholders. We presently expect that our overall cash tax costs will approximately double, as compared to our fiscal year 2017 results, due to the redomiciliation and taking in account our initial estimates of the expected effects of the 2017 Tax Reform Act. Acquisitions and Divestitures The discussion and analysis in this section and the accompanying consolidated financial statements include the results of operations of acquired companies commencing on their respective acquisition dates. Broadcom Corporation On February 1, 2016, Broadcom became the successor to Avago and acquired BRCM, or the Broadcom Merger, in which, Avago shareholders exchanged their shares on a oneforone basis for newly issued Broadcom ordinary shares and BRCM shareholders received, in aggregate, approximately $16.8 billion in cash, 112 million Broadcom ordinary shares and 23 million Partnership REUs in exchange for all shares of BRCM common stock, par value $0.0001 per share, issued and outstanding immediately prior to the effective time of the Broadcom Merger. In addition, we also paid $137 million in cash for vested BRCM equity awards. Broadcom also assumed unvested RSUs originally granted by BRCM and converted them into 6 million Broadcom RSUs. The aggregate consideration for the Broadcom Merger was approximately $35.7 billion. We funded the cash portion of the Broadcom Merger with net proceeds from the issuance of $15.6 billion in term loans under the 2016 Credit Agreement, that we entered into at the time of closing of the Broadcom Merger, as well as cash on hand of the combined companies. The financial results provided in this Annual Report on Form 10K include the results of operations of BRCM commencing as of February 1, 2016, or the Acquisition Date. During fiscal year 2016, we completed the sales of certain noncore BRCM businesses for aggregate cash proceeds of $830 million and recognized an aggregate gain of $36 million from the sales. Emulex Corporation In fiscal year 2015, we acquired Emulex Corporation, or Emulex, a leader in network connectivity, monitoring and management, for a purchase price of $587 million.
- 32. Broadcom Limited Locations And Subsidiaries Broadcom Limited © MarketLine Page 32 Locations And Subsidiaries LOCATIONS AND SUBSIDIARIES Head Office Broadcom Limited 1 Yishun Avenue 7 Singapore City Singapore City SGP Phone:65 6 7557888 www.broadcom.com Other Locations and Subsidiaries Avago Sales Office Japan (Japan) Aobadai Hills 7F Aobadai 477 Meguroku Tokyo 1530042 JPN Phone:81 03 6407 2727 Fax:81 03 0120 61 1270 Broadcom Georgia 4385 River Green Parkway Suite 100 Duluth Georgia 30096 USA Phone:1 770 232 0018 Fax:1 770 232 0211 Broadcom (Arizona) 5300 California Avenue Irvine California 92617 USA Phone:1 949 926 5000 Fax:1 949 926 9392 Broadcom (China) Broadcom China Shanghai Room 3006, United Plaza 1468 W. Nanjing Road 200040 Shanghai CHN Phone:86 21 61560508 Fax:86 21 62892011 Broadcom (Korea) 14th Floor POSCO Center West Wing 892 DaechiDong GangnamGu Seoul 135777 KOR Phone:82 2 2050 5400 Fax:82 2 2050 5450 Broadcom India Ground Floor Campus A RMZ Ecospace Bellandur IND Phone:91 80 4148 4210 Broadcom Limited 1320 Ridder Park Drive San Jose California Broadcom Limited 1351 Redwood Way Petaluma California
- 33. Broadcom Limited Locations And Subsidiaries Broadcom Limited © MarketLine Page 33 San Jose California USA Phone:1 408 4338000 Petaluma California USA Phone:1 707 7929000 Broadcom Limited 16340 W. Bernardo Drive (Building A) San Diego California San Diego California USA Phone:1 858 3858800 Fax:1 858 3858810 Broadcom Limited 190 Mathilda Place Sunnyvale California Sunnyvale California USA Broadcom Limited 2451 Mission College Blvd Santa Clara California Santa Clara California USA Broadcom Limited 2605 Trade Centre Ave. Longmont Colorado Longmont Colorado USA Broadcom Limited 5300 California Ave. Irvine California Irvine California USA Phone:1 949 9265000 Fax:1 949 9265203 Broadcom Limited Suite 200 500 N. Juniper Drive Chandler Arizona Chandler Arizona USA Broadcom Ltd. 1320 Ridder Park Drive San Jose California 95131 USA Phone:1 408 433 8000 Brocade Communications Systems Inc 130 Holger Way San Jose California San Jose California USA Phone:1 408 3338000 Fax:1 408 3338101 www.brocade.com EBV Elektronik GmbH & Co. Schonbrunner Str. 297 307 A1200 Vienna AUT Phone:43 018 91 52 0 Fax:43 018 91 52 30 Mouser Industrial products Delaware USA Phone:1 800 346 6873 Fax:1 817 804 3899
- 34. Broadcom Limited Locations And Subsidiaries Broadcom Limited © MarketLine Page 34
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