Large investor in Broadcom Inc. buys $85.5 million in shares
Silver Lake Group, which controls a board seat at Broadcom Inc. (AVGO), bought 334,761 shares of the company’s common stock on Apr. 13. At $247.94 per share, Silver Lake Group paid a total of $85,478,486 for the new shares.
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About Broadcom Limited
Broadcom--the combined entity of Broadcom and Avago--boasts a highly diverse product portfolio across an array of end markets. Avago focused primarily on radio frequency filters and amplifiers used in high-end smartphones, such as the Apple iPhone and Samsung Galaxy devices, in addition to an assortment of solutions for wired infrastructure, enterprise storage, and industrial end markets. Legacy Broadcom targeted networking semiconductors, such as switch and physical layer chips, broadband products (such as television set-top box processors), and connectivity chips that handle standards such as Wi-Fi and Bluetooth. The company recently acquired Brocade and CA Technologies to bolster its offerings in enterprise storage and mainframe software, respectively.