Broadcom Corp. Chief Executive Scott McGregor told investors Wednesday the Irvine-based communications chipmaker is scouting potential acquisitions to add to its numerous product lines.
At an investor conference McGregor said he’s looking for deals with companies that have talented people developing products that fit with the company’s strategy, according to a Reuters report.
“We’re looking for acquisition candidates now. We think it’s a unique opportunity,” McGregor said in the report.
McGregor largely echoed what he told analysts at a conference earlier this week in Irvine.
“Management indicated that strategic opportunities to buy weaker competitors in the current environment are plentiful and that the company could by weaker competitors if financially attractive,” Ross Seymore, a research analyst at Deutsche Bank Securities Inc. in San Francisco, said in a recent research note.
Broadcom’s shares closed up 2% on a recent market value of about $8.5 billion.
