Broadcom is all set to invest $778 for its new headquarters.
For many years to present, Broadcom has dominated the connectivity combo chip market. The company specializes in broadband and wireless communication business known best for making semiconductor processing chips for other tech and major companies. The company has already done a lot in order to show it is a powerhouse in the market. Recently, it announced to manufacture and launch 5G Wi-Fi chips for smartphones in the foreseeable future.
The company said “Broadcom introduced a new double antenna-supporting 5G Wi-Fi chip for mobile devices which the company said delivers unparalleled throughput, Bluetooth co-existence performance, and indoor location accuracy for high-end smartphones and tablets.” With so much on the plate for the company, it is believed that Broadcom (BRCM) is planning to plant new roots for its headquarters.
It is now safe to say that Broadcom in on its way to celebrate its 25 years anniversary at home in Irvine next year. Sources report that “The chipmaker, which leases 4.3 million square feet globally, broke ground Wednesday on its first company-owned campus.” The new 73 acre building will cost the company around $778 million. The massive headquarters will have five buildings which will have the space to accommodate at least 8,000 employees. Moreover, “the five buildings slated for the first of two development phases that will eventually span 2 million square feet,” reports Orange Country Register.
The company has covered a very long road since its establishment back in 1991. The co-founders of the company Henry Samueli and Henry T. Nicholas worked together in a very small office which was not very far away from UCLA. The two founders were accompanied by only two other employees that included an engineer and an office manager.
Broadcom relocated its business to Irvine in 1995 in a 10,000 square feet single story building. The company accommodated its workforce of 50 people in it. In 2007, the company moved fast and shifted its location again at University Research Park near UC Irvine. It aimed to get bigger digs. And it has certainly done so as the company now leases at least 900,000 square feet on local offices space.
OCR reports, “Shifting to the new headquarters, about 10 miles from University Research Park, is expected to cost $650 million, excluding the cost of the land, and be completed by 2018, according to documents filed with the Securities and Exchange Commission.”
The company is undergoing through this transitional period because it believes that it has room to grow and its new projects have been sized already that can accommodate future growth.
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