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Avago to buy Broadcom for $37 bn in biggest-ever chip deal

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avagoAvago Technologies Ltd, Avago, which serves the wireless and industrial markets, reportedly will buy Broadcom Corp for $37 billion in biggest-ever chip deal .

The company is offering Broadcom shareholders $17 billion in cash and Avago shares valued at $20 billion.

Broadcom is known for its connectivity chips. They are used widely in smartphones made by Apple Inc and Samsung Electronics Co Ltd.

According to report, the combined company will be based in Singapore.

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