Broadcom Establishes $50 Million Foundation to Support Math and Science Education Programs and a Range of Community Services
IRVINE, Calif. - Broadcom Corporation (Nasdaq: BRCM), a global leader in semiconductors for wired and wireless communications, announced that the company has established a $50 million foundation to support math and science programs, as well as a range of community services.
The Broadcom Foundation intends to make charitable grants in excess of $2 million annually, the majority of which is anticipated to support math and science education programs. Additionally, a portion of the Foundation’s annual funds will support a broad range of community services focused on the more than 100 communities where Broadcom employees live and work.
“The establishment of the Broadcom Foundation marks an important milestone in the company’s growth, as we recognize that business leadership in the global semiconductor industry carries with it a responsibility to also take a leadership role in supporting local institutions that play meaningful roles in the communities where our employees live, work and play,” said Broadcom President and CEO Scott McGregor.
“As a cutting-edge technology company, where 75 percent of our employees are engineers, Broadcom has always had a special interest in supporting math and science programs that will prepare the next generation of technology innovators,” McGregor said. “Broadcom’s emphasis on research and development funding, together with our world-class employees, has enabled Broadcom to amass one of the strongest product and patent portfolios in the semiconductor industry, and our support for math and science programs is another way to invest in the future.”
“Many institutions around the world are facing challenges because of current economic conditions, and Broadcom is in a strong financial position to step up and support organizations that make a difference to our employees and their communities,” McGregor said.
Later this year, qualified organizations that meet eligibility criteria, including qualified organizations supported by Broadcom’s more than 7,000 employees, will be eligible to apply for grants. The Foundation is expected to begin making grants in early 2010. Preliminary information is available at www.broadcomfoundation.com and will be updated as details about the Broadcom Foundation become available.
Broadcom Corporation is a major technology innovator and global leader in semiconductors for wired and wireless communications. Broadcom® products enable the delivery of voice, video, data and multimedia to and throughout the home, the office and the mobile environment. We provide the industry’s broadest portfolio of state-of-the-art, system-on-a-chip and software solutions to manufacturers of computing and networking equipment, digital entertainment and broadband access products, and mobile devices. These solutions support our core mission: Connecting everything®.
Broadcom is one of the world’s largest fabless semiconductor companies, with 2008 revenue of $4.66 billion, and holds over 3,300 U.S. and 1,300 foreign patents, more than 7,500 additional pending patent applications, and one of the broadest intellectual property portfolios addressing both wired and wireless transmission of voice, video, data and multimedia.
Broadcom is a FORTUNE 500® company headquartered in Irvine, Calif., and has offices and research facilities in North America, Asia and Europe. Broadcom may be contacted at +1.949.926.5000 or at www.broadcom.com.
Cautions regarding Forward Looking Statements:
All statements included or incorporated by reference in this release, other than statements or characterizations of historical fact, are forward-looking statements. These forward-looking statements are based on our current expectations, estimates and projections about our industry and business, management’s beliefs, and certain assumptions made by us, all of which are subject to change. Forward-looking statements can often be identified by words such as “anticipates,” “expects,” “intends,” “plans,” “predicts,” “believes,” “seeks,” “estimates,” “may,” “will,” “should,” “would,” “could,” “potential,” “continue,” “ongoing,” similar expressions, and variations or negatives of these words. Examples of such forward-looking statements include, but are not limited to, the amount of the Foundation’s annual grants and the activities the Foundation will support. These forward-looking statements are not guarantees of future results and are subject to risks, uncertainties and assumptions that could cause our actual results to differ materially and adversely from those expressed in any forward-looking statement.
Our Annual Report on Form 10-K, subsequent Quarterly Reports on Form 10-Q, recent Current Reports on Form 8-K, and other Securities and Exchange Commission filings discuss important risk factors that could contribute to such differences or otherwise affect our business, results of operations and financial condition. The forward-looking statements in this release speak only as of this date. We undertake no obligation to revise or update publicly any forward-looking statement, except as required by law.
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