Broadcom Ltd. laid out on Wednesday its commitments linked to the offer it made for California-based Qualcomm Inc. The move comes in response to concerns expressed by the Committee on Foreign Investment in the United States, which said the deal would weaken investment in a 5G network in the country.
The Singapore-incorporated company said it is "committed to making the US the global leader in 5G" and that is pledging to start a $1.5 billion fund to train and educate engineers. "Importantly, Broadcom will fund enhanced research and development through lawful business practices rather than predatory and anticompetitive behavior. There is no truth to Qualcomm's argument that its anticompetitive licensing practices are needed to fund a robust R&D effort," the semiconductor maker stated.
