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November 03, 2017 Friday 04:05:12 PM IST

Trump announces Broadcom to move HQ back to US

Technology Inceptions

Washington: President Donald Trump has announced that semiconductor manufacturer Broadcom, currently based in Singapore, will move its main headquarters back to the US, a media report said.

Trump made the announcement on Thursday during an Oval Office ceremony accompanied by Broadcom's President and CEO Hock Tan, Efe news reported.

He emphasized that his administration is working every day to make the US the "most attractive place in the world to do business so that more and more companies like Broadcom come back to our shores, grow their businesses and create more and more American jobs". "And you see it happening on a daily basis."

The White House said that Broadcom will transfer the legal domicile of its main HQ to Delaware, a move that will allow the US to benefit from the more than $20 billion in annual income earned by the firm. Broadcom, with a market value of some $100 billion, currently employed some 7,000 US workers in 24 states.


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