ChatGPT's New Skills Resident Evil 4 Remake Galaxy A54 5G Hands-On TikTok CEO Testifies Huawei's New Folding Phone How to Use Google's AI Chatbot Airlines and Family Seating Weigh Yourself Accurately
Want CNET to notify you of price drops and the latest stories?
No, thank you

Broadcom officially withdraws $117B Qualcomm offer

Broadcom will not fight President Trump's executive order squashing the deal.

Now playing: Watch this: Trump blocks Broadcom-Qualcomm merger

What would have been technology's biggest merger is no more. 

Broadcom, which makes chips for everything from TV set-top boxes to servers, said Wednesday it has withdrawn its $117 billion bid to acquire Qualcomm, the world's largest maker of chips for smartphones. The move comes two days after US President Donald Trump signed an executive order blocking the merger, effectively killing the deal. 


Broadcom won't be getting its hands on Qualcomm's Snapdragon processor franchise. 


The withdrawal marks the end of the twisting soap opera that was Broadcom's pursuit of Qualcomm. Singapore-based Broadcom had hoped to create a chip juggernaut by merging the two businesses, but Qualcomm initially fought the takeover, arguing the offer wasn't sufficient. In the last few weeks, San Diego-based Qualcomm warmed up to the idea of a merger, but still argued for a higher price tag. 

The intervention by the Treasury Department's Committee on Foreign Investment in the US, or CFIUS, and by President Trump came, in an unusual turn of events, even before a deal was struck between the two companies. Trump cited national security as his reason for killing the deal, with CFIUS specifically warning about the lack of a major US player in 5G, the next-generation of wireless technology. 

Qualcomm declined to comment. 

Blockchain Decoded:  CNET looks at the tech powering bitcoin -- and soon, too, a myriad of services that will change your life.

'Alexa, be more human': Inside Amazon's effort to make its voice assistant smarter, chattier and more like you.