8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 8-K

CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported): October 26, 2010

BROADCOM CORPORATION

(Exact Name of Registrant as Specified in Charter)

California	000-23993	33-0480482
(State or Other Jurisdiction of	(Commission File Number)	(IRS Employer Identification No.)
Incorporation)

5300 California Avenue, Irvine, CA 92617

(Address of Principal Executive Offices)(Zip Code)

Registrant’s telephone number, including area code: (949) 926-5000

Not Applicable

(Former Name or Former Address, if Changed since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02 Results of Operations and Financial Condition.

On October 26, 2010 Broadcom Corporation (the “Company”) issued a press release announcing unaudited financial results for the third quarter ended September 30, 2010. A copy of the press release is furnished herewith as Exhibit 99.1 and is incorporated by reference into Item 2.02 of this Current Report. The information in Item 2.02 of this Current Report, including the exhibit 99.1, is being furnished and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section. The information in Item 2.02 of this Current Report shall not be incorporated by reference into any registration statement or other document filed pursuant to the Securities Act of 1933, as amended, regardless of any general incorporation language contained in such filing.

Item 8.01 Other Events.

On October 26, 2010 the Company entered into a definitive agreement to acquire Percello Ltd. and issued a press release related thereto. The full text of the press release is attached as Exhibit 99.2 to this report and is hereby incorporated by reference herein.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

99.1 – Press release dated October 26, 2010 of the Registrant.

99.2 – Press Release dated October 26, 2010 of the Registrant.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

October 26, 2010	BROADCOM CORPORATION, a California corporation
	By:	/s/ Eric K. Brandt
		Eric K. Brandt
		Executive Vice President & Chief Financial Officer

EXHIBIT INDEX

Exhibit No.	Description
99.1	Press Release dated October 26, 2010 of the Registrant.
99.2	Press Release dated October 26, 2010 of the Registrant.

EX-99.1

Exhibit 99.1

NEWS RELEASE

Broadcom Business Press Contact	Broadcom Investor Relations Contact
Bill Blanning	Chris Zegarelli
Vice President, Global Media Relations	Director, Investor Relations
949-926-5555	949-926-7567
blanning@broadcom.com	czegarel@broadcom.com

Broadcom Reports Third Quarter 2010 Results

Record Quarterly Net Revenue — Up 44% from Prior Year

Record Quarterly Earnings

Conference Call to be Webcast Today at 1:45 p.m. Pacific Time

Q3 Summary

• Revenue: $1.806 billion (up 44% year over year)

• Gross Margin: 51.7% (Product Gross Margin: 50.1%)

• Operating Margin: 18.5%

• Net Income: $327 million

• Earnings per Share: $0.60 (up 275% year over year)

• Cash Flow from Operations: $456 million

IRVINE, Calif. — October 26, 2010 — Broadcom Corporation (Nasdaq: BRCM) today reported unaudited financial results for its third quarter ended September 30, 2010.

Net revenue for the third quarter of 2010 was a record $1.806 billion. This represents an increase in net revenue of 12.6% compared with the $1.604 billion reported for the second quarter of 2010 and an increase of 44% compared with the $1.254 billion reported for the third quarter of 2009. Net income computed in accordance with U.S. generally accepted accounting principles (GAAP) for the third quarter of 2010 was $327 million, or $.60 per share (diluted), compared with GAAP net income of $278 million, or $.52 per share (diluted), for the second quarter of 2010, and GAAP net income of $85 million, or $.16 per share (diluted), for the third quarter of 2009.

Net revenue for the nine months ended September 30, 2010 was $4.873 billion. This represents an increase in net revenue of 54.8% from the $3.148 billion reported for the nine months ended September 30, 2009. Net income computed in accordance with GAAP for the nine months ended September 30, 2010 was $816 million, or $1.52 per share (diluted), compared with GAAP net income of $6 million, or $.01 per share (diluted), for the nine months ended September 30, 2009.

For a discussion of certain selected transactions and their related accounting impact for all periods presented, see the “Unaudited Supplementary Financial Data” schedule below.

“Broadcom continues to execute exceptionally well with record revenue and earnings in the third quarter of 2010. I am particularly pleased that we had record sales in each of our segments and reached our GAAP product operating margin model of 15% — 17%. These achievements are due to solid growth in our wired and wireless communication businesses, powerfully engineered products and Broadcom’s continued commitment to financial discipline,” said Scott A. McGregor, Broadcom’s President and Chief Executive Officer.

“Looking ahead, we believe that consumer demand for connectivity will continue to drive demand for our communication semiconductors, which should enable Broadcom to deliver solid revenue growth and sustained profitability in the fourth quarter.”

Conference Call Information

As previously announced, Broadcom will conduct a conference call with analysts and investors to discuss its third quarter 2010 financial results and current financial prospects today at 1:45 p.m. Pacific Time (4:45 p.m. Eastern

Broadcom Reports Third Quarter 2010 Results
Page 2

Time). The company will broadcast the conference call via webcast over the Internet. To listen to the webcast, or to view the financial and other statistical information required by Securities and Exchange Commission (SEC) Regulation G, please visit the Investors section of the Broadcom website at www.broadcom.com/investors. The webcast will be recorded and available for replay until 5:00 p.m. Pacific Time, November 23, 2010.

The financial results included in this release are unaudited.

About Broadcom

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, one of the world’s largest fabless communications semiconductor companies, with 2009 revenue of $4.49 billion, holds more than 4,500 U.S. and 1,900 foreign patents, and has more than 7,800 additional pending patent applications, and one of the broadest intellectual property portfolios addressing both wired and wireless transmission of voice, video, data and multimedia.

A FORTUNE 500^® company, Broadcom is 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 and the related conference call for analysts and investors, 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 business and industry, 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, guidance provided on future revenue, gross product margin and operating expense targets for the fourth quarter of 2010, references to the positioning of our products and statements about opportunities within the wired and wireless communication markets and the continuing demand for connectivity and communication semiconductors. 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.

These risks and uncertainties include, but are not limited to the following:

• Our operating results may be adversely impacted by worldwide economic uncertainties and specific conditions in the markets we address.

• Our quarterly operating results may fluctuate significantly.

• Our stock price is highly volatile.

• We face intense competition.

• We depend on a few significant customers for a substantial portion of our revenue.

• We may fail to adjust our operations in response to changes in demand.

• We face risks associated with our acquisition strategy.

Broadcom Reports Third Quarter 2010 Results
Page 3

• We may be required to defend against alleged infringement of intellectual property rights.

• We may not be able to protect or enforce our intellectual property rights.

• Our business is subject to potential tax liabilities.

• We are involved in litigation.

• We manufacture and sell complex products and may be unable to successfully develop and introduce new products.

• We are subject to order and shipment uncertainties

• We are increasingly exposed to risks associated with our international operations.

• We depend on third-party subcontractors to fabricate, assemble and test our products.

• Government regulation may adversely affect our business.

• We may be unable to attract, retain or motivate key personnel.

• Our co-founders and their affiliates may control the outcome of matters that require the approval of our shareholders.

• There can be no assurance that we will continue to declare cash dividends.

• Our articles of incorporation and bylaws contain anti-takeover provisions.

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 the foregoing risks as well as other 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 and the related conference call for analysts and investors speak only as of the date they are made. We undertake no obligation to revise or update publicly any forward-looking statement, except as required by law.

Broadcom^®, the pulse logo, Connecting everything^®, and the Connecting everything logo are among the trademarks of Broadcom Corporation and/or its affiliates in the United States, certain other countries and/or the EU. Any other trademarks or trade names mentioned are the property of their respective owners.

Broadcom Reports Third Quarter 2010 Results
Page 4

BROADCOM CORPORATION
Unaudited Condensed Consolidated Statements of Income
(In thousands, except per share amounts)

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2010			2009			2010		2009
Net revenue:
Product revenue	$	1,748,692		$	1,194,745		$	4,700,131	$	2,989,292
Income from Qualcomm Agreement		51,674			51,674			155,022		118,937
Licensing revenue		5,651			7,778			17,611		39,348
Total net revenue		1,806,017			1,254,197			4,872,764		3,147,577
Costs and expenses:
Cost of product revenue		871,951			615,349			2,328,502		1,580,300
Research and development		447,577			391,170			1,290,063		1,138,664
Selling, general and administrative		145,849			142,480			421,844		394,938
Amortization of purchased intangible assets		4,405			4,159			12,892		12,457
Impairment of other long-lived assets		1,785			7,634			1,785		18,895
Restructuring costs, net		—			4,772			111		12,330
Settlement costs (gains), net		—			—			3,816		(57,256	)
Charitable contribution		—			—			—		50,000
Total operating costs and expenses		1,471,567			1,165,564			4,059,013		3,150,328
Income (loss) from operations		334,450			88,633			813,751		(2,751	)
Interest income, net		3,180			2,978			8,042		11,362
Other income (expense), net		(1,113	)		(178	)		3,679		2,487
Income before income taxes		336,517			91,433			825,472		11,098
Provision for income taxes		9,388			6,837			9,861		5,041
Net income	$	327,129		$	84,596		$	815,611	$	6,057
Net income per share (basic)	$	0.64		$	0.17		$	1.63	$	0.01
Net income per share (diluted)	$	0.60		$	0.16		$	1.52	$	0.01
Weighted average shares (basic)		508,957			495,491			501,835		493,599
Weighted average shares (diluted)		544,251			521,443			536,572		508,559
Dividends per share	$	0.08		$	—		$	0.24	$	—

     Certain prior period amounts in the unaudited condensed consolidated statements of income have been reclassified to conform with the current period presentation of income from the Qualcomm Agreement and licensing revenue.

     The following table presents details of total stock-based compensation expense included in each functional line item in the unaudited condensed consolidated statements of income above:

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2010		2009		2010		2009
Cost of product revenue	$	5,122	$	6,579	$	16,850	$	18,584
Research and development		80,171		90,829		252,977		266,698
Selling, general and administrative		27,927		31,290		88,647		89,817

Broadcom Reports Third Quarter 2010 Results
Page 5

BROADCOM CORPORATION
Unaudited Condensed Consolidated Statements of Cash Flows
(In thousands)

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2010			2009			2010			2009
Operating activities
Net income	$	327,129		$	84,596		$	815,611		$	6,057
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		19,716			11,273			57,970			47,314
Stock-based compensation expense:
Stock options and other awards		23,623			40,904			87,131			126,461
Restricted stock units		89,597			87,794			271,343			248,638
Acquisition-related items:
Amortization of purchased intangible assets		11,820			8,035			36,074			24,558
Impairment of long-lived assets		1,785			7,634			1,785			18,895
Non-cash restructuring charges (reversals)		—			808			(313	)		2,721
Gain on sale of marketable securities		—			—			—			(1,046	)
Changes in operating assets and liabilities:
Accounts receivable		(108,793	)		(97,541	)		(284,063	)		(169,276	)
Inventory		(44,803	)		(27,918	)		(165,081	)		58,890
Prepaid expenses and other assets		11,615			27,758			35,103			19,972
Accounts payable		26,786			32,764			128,992			112,525
Deferred revenue and income		(9,137	)		(19,944	)		(27,983	)		80,822
Accrued settlement costs		(3,000	)		—			(166,380	)		6,900
Other accrued and long-term liabilities		109,373			80,301			129,132			71,534
Net cash provided by operating activities		455,711			236,464			919,321			654,965
Investing activities
Net purchases of property and equipment		(34,571	)		(22,480	)		(82,030	)		(48,774	)
Net cash received from (paid for) acquired companies		(47,916	)		(1,297	)		(150,398	)		842
Purchases of strategic investments		—			(2,000	)		(8,000	)		(2,000	)
Purchases of marketable securities		(933,519	)		(546,922	)		(1,416,736	)		(1,057,972	)
Proceeds from sales and maturities of marketable securities		351,661			315,532			722,460			737,377
Net cash used in investing activities		(664,345	)		(257,167	)		(934,704	)		(370,527	)
Financing activities
Repurchases of Class A common stock		—			(168,083	)		(275,464	)		(206,517	)
Dividends paid		(40,867	)		—			(120,680	)		—
Payment of assumed debt		—			—			(14,560	)		—
Proceeds from issuance of common stock		125,815			53,535			371,683			137,229
Minimum tax withholding paid on behalf of employees for restricted stock units		(34,007	)		(26,046	)		(96,749	)		(60,574	)
Net cash provided by (used in) financing activities		50,941			(140,594	)		(135,770	)		(129,862	)
Increase (decrease) in cash and cash equivalents		(157,693	)		(161,297	)		(151,153	)		154,576
Cash and cash equivalents at beginning of period		1,403,633			1,506,518			1,397,093			1,190,645
Cash and cash equivalents at end of period	$	1,245,940		$	1,345,221		$	1,245,940		$	1,345,221

UNAUDITED SUPPLEMENTAL FINANCIAL INFORMATION

	September 30,		June 30,		December 31,
	2010		2010		2009
	(In thousands)
Cash and cash equivalents	$	1,245,940	$	1,403,633	$	1,397,093
Short-term marketable securities		1,148,139		644,722		532,281
Long-term marketable securities		520,276		441,111		438,616
Total cash, cash equivalents and marketable securities	$	2,914,355	$	2,489,466	$	2,367,990
Increase from prior period end	$	424,889
Increase from prior year end	$	546,365

Broadcom Reports Third Quarter 2010 Results
Page 6

BROADCOM CORPORATION
Unaudited Condensed Consolidated Balance Sheets
(In thousands)

	September 30,		December 31,
	2010		2009
ASSETS
Current assets:
Cash and cash equivalents	$	1,245,940	$	1,397,093
Short-term marketable securities		1,148,139		532,281
Accounts receivable, net		798,266		508,627
Inventory		534,855		362,428
Prepaid expenses and other current assets		105,661		113,903
Total current assets		3,832,861		2,914,332
Property and equipment, net		253,339		229,317
Long-term marketable securities		520,276		438,616
Goodwill		1,410,542		1,329,614
Purchased intangible assets, net		205,183		150,927
Other assets		50,810		64,436
Total assets	$	6,273,011	$	5,127,242
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	567,822	$	437,353
Wages and related benefits		193,216		190,315
Deferred revenue and income		59,221		87,388
Accrued liabilities		404,260		433,294
Total current liabilities		1,224,519		1,148,350
Long-term deferred revenue		792		608
Other long-term liabilities		85,240		86,438
Commitments and contingencies
Shareholders’ equity		4,962,460		3,891,846
Total liabilities and shareholders’ equity	$	6,273,011	$	5,127,242

Broadcom Reports Third Quarter 2010 Results
Page 7

BROADCOM CORPORATION
Unaudited Supplementary Financial Data
(In thousands)

     The following table presents details of supplementary financial data included in each functional line item in the unaudited condensed consolidated statements of income:

	Three Months Ended					Nine Months Ended
	September 30,					September 30,
	2010			2009		2010			2009
Cost of product revenue:
Stock-based compensation	$	5,122		$	6,579	$	16,850		$	18,584
Amortization of purchased intangible assets		7,415			3,876		23,182			12,101
Amortization of acquired inventory valuation step-up		264			699		6,929			7,679
Research and development:
Stock-based compensation		80,171			90,829		252,977			266,698
Selling, general and administrative:
Stock-based compensation		27,927			31,290		88,647			89,817
Other operating costs and expenses:
Amortization of purchased intangible assets		4,405			4,159		12,892			12,457
Impairment of long-lived assets(1)		1,785			7,634		1,785			18,895
Restructuring costs, net(2)		—			4,772		111			12,330
Settlement costs (gains), net(3)		—			—		3,816			(57,256	)
Charitable contribution(4)		—			—		—			50,000
Other:
Employer payroll tax expense on certain stock option exercises		2,364			1,625		6,125			3,567
Non-operating gain (loss)		(422	)		27		(426	)		13

(1)	Long-lived asset impairment charges of $7.6 million and $18.9 million related to the company’s acquisition of the digital television business of Advanced Micro Devices, Inc. were recorded in the three and nine months ended September 30, 2009.
(2)	Recorded in connection with the company’s restructuring plans implemented in 2009.
(3)	In the nine months ended September 30, 2009, the company recorded a $65.3 million gain on settlement in connection with the Qualcomm litigation, offset in part by estimated additional settlement costs of $6.9 million related to certain employment tax items and an additional $1.2 million related to patent infringement claims.
(4)	Recorded in connection with an accrued $50.0 million charitable contribution to the Broadcom Foundation in the nine months ended September 30, 2009.

Broadcom Reports Third Quarter 2010 Results
Page 8

BROADCOM CORPORATION
Unaudited Supplementary Financial Data
(In thousands)

	Three Months Ended
	September 30, 2010			September 30, 2009			June 30, 2010
Product revenue	$	1,748,692		$	1,194,745		$	1,547,095
Income from Qualcomm Agreement		51,674			51,674			51,674
Licensing revenue		5,651			7,778			5,679
Total net revenue	$	1,806,017		$	1,254,197		$	1,604,448
Cost of product revenue	$	871,951		$	615,349		$	761,229
Product gross margin		50.1	%		48.5	%		50.8	%
Total gross margin		51.7	%		50.9	%		52.6	%

Broadcom Reports Third Quarter 2010 Results
Page 9

BROADCOM CORPORATION
Guidance for the Three Months Ending December 31, 2010

	Three Months
	Ending December 31, 2010
Total net revenue	Flat to up ~$100 million from Q3 for a total net revenue range of $1.8 billion to $1.9 billion
Product gross margin	Flat from Q3
Research and development and selling, general and administrative expenses (including stock-based compensation)	up ~$20 million to ~$30 million from Q3

Broadcom has based the preceding guidance for the three months ending December 31, 2010 on expectations, assumptions and estimates that we believe are reasonable given our assessment of historical trends and other information reasonably available as of October 26, 2010. Our guidance consists of predictions only, however, and is subject to a wide range of known and unknown business risks and uncertainties, many of which are beyond our control. The forecasts and projections contained in the table above should not be regarded as representations by Broadcom that the estimated results will be achieved. Projections and estimates are necessarily speculative in nature and actual results may vary materially from the guidance we provide today.

The guidance set forth in the above table should be read together with the information under the caption, “Cautions regarding Forward Looking Statements” above, our Annual Report on Form 10-K for the year ended December 31, 2009, subsequent Quarterly Reports on Form 10-Q, recent Current Reports on Form 8-K, and our other Securities and Exchange Commission filings. We undertake no obligation to publicly update or revise any forward-looking statements, including the guidance set forth herein, except as required by law.

-###-

EX-99.2

Exhibit 99.2

Broadcom Corporation to Acquire Percello Ltd.

Broadcom Expands Its Broadband Carrier Access Portfolio with the
Addition of Percello’s Femtocell Technology

IRVINE, Calif. — October 26, 2010 — Broadcom Corporation (Nasdaq: BRCM), a global leader in semiconductors for wired and wireless communications, today announced that it has signed a definitive agreement to acquire Percello Ltd., a privately-held company that develops system-on-a-chip (SoC) solutions for femtocells. Femtocells are small, low power cellular base stations that extend coverage indoors where signals are weak. Used primarily in residential and enterprise business settings, femtocells communicate with a service provider’s network through a broadband connection, allowing users to continue using their mobile devices without losing connectivity. The acquisition of Percello is expected to enable Broadcom to lower overall bill of material cost and accelerate the time to market for best-in-class and energy-efficient femtocell technology.

“Percello’s energy-efficient and cost-optimized femtocell architecture augments our portfolio of highly integrated solutions for broadband connectivity and provides significant benefits for our customers and end users,” said Greg Fischer, Vice President and General Manager of Broadcom’s Broadband Carrier Access line of business. “As wireless data usage continues to expand, this technology is well-positioned to enable wireless carriers to offload both data and voice traffic, while offering subscribers better cell reception in the home and office and accelerating the introduction of new ‘converged’ mobile broadband services.”

“Percello’s femtocell technology delivers a simple and cost-effective solution that enables service providers to quickly and easily extend wireless cellular access as well as offering advanced applications and services to their subscribers,” said Shlomo Gadot, Chief Executive Officer, Percello. “The combination of Percello’s

high performance femtocell solutions and Broadcom’s broadband portfolio provides significant benefits including greater efficiencies, accelerated time to market and a world-class technology and engineering talent base.”

“The femtocell market has turned the corner in 2010 with more than 1 million femtocells global shipments expected by conservative estimates this year. By 2015 we see more than 50 million femtocells being shipped annually with WCDMA femtocells making up the bulk of the market,” said Aditya Kaul, Practice Director, Mobile Networks, ABI Research. “This is driven by the consumers’ desire to be connected at all times, the need for increased data capacity in networks coupled with wireless service providers deploying fast, simple and cost-effective upgrades to support base stations and accelerate the introduction of advanced services like presence and location based alerts, multimedia syncing and sharing, smart phone applications and enhanced mobile video services to their subscribers.”

In connection with the acquisition, Broadcom expects to pay approximately $86 million, net of cash assumed from Percello, to acquire all of the outstanding shares of capital stock and other rights of Percello. The purchase price will be paid in cash, except that a portion of such purchase price attributable to unvested employee stock options will be paid in Broadcom restricted stock units. Additional consideration of up to $12 million in cash will be reserved for future payment to the former holders of Percello capital stock and other rights upon satisfaction of certain performance goals. A portion of the cash consideration payable to the stockholders will be placed into escrow to cover indemnity obligations. Excluding any purchase accounting related adjustments and fair value measurements, Broadcom expects the acquisition of Percello to be approximately neutral to earnings per share in 2011. The boards of directors of the two companies have approved the acquisition. The transaction is expected to close in Broadcom’s fourth quarter, 2010 or by the end of Broadcom’s first quarter, March 31, 2011 and remains subject to customary closing conditions.

About Percello

Percello is a fabless semiconductor company offering highly integrated and low-cost digital baseband processors for WCDMA and LTE Femtocells. Founded in 2007, Percello provides innovative and customized solutions that address the key business and technological challenges of equipment vendors in the emerging Femtocell market. Percello’s proven Femtocell SoC offerings reduce costs, lower power consumption, ease integration efforts, shorten development time and enhance flexibility.

About Broadcom

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, one of the world’s largest fabless communications semiconductor companies, with 2009 revenue of $4.49 billion, and holds more than 4,500 U.S. and 1,900 foreign patents, and has more than 7,800 additional pending patent applications, and one of the broadest intellectual property portfolios addressing both wired and wireless transmission of voice, video, data and multimedia.

A FORTUNE 500® company, Broadcom is 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, statements regarding references to the anticipated benefits to Broadcom related to its acquisition of Percello, including lowering its BOM cost and accelerating the time to market of femtocell solutions, benefits to Broadcom’s customers, the impact of the acquisition on Broadcom’s earnings, and the expected completion and timing of the transaction. 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.

Important risk factors that may cause such a difference for Broadcom in connection with the acquisition of Percello include, but are not limited to:

• the ability of the parties to successfully consummate the transactions contemplated by the acquisition agreement and related transaction documents,

• unexpected variations in market growth and demand for femtocell products and technologies,

• the risks inherent in acquisitions of technologies and businesses, including the timing and successful completion of technology and product development through volume production,

• integration issues,

• costs and unanticipated expenditures,

• changing relationships with customers, suppliers and strategic partners,

• potential contractual, intellectual property or employment issues,

• the risk that anticipated benefits of the acquisition may not be realized, and

• accounting treatment and charges.

Additional factors that may cause Broadcom’s actual results to differ materially from those expressed in forward-looking statements include, but are not limited to the list that can be found at http://www.broadcom.com/press/additional_risk_factors/Q42010.php. 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 the foregoing risks as well as other 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.

Broadcom ®, the pulse logo, Connecting everything® and the Connecting everything logo are among the trademarks of Broadcom Corporation and/or its affiliates in the United States, certain other countries and/or the EU. Any other trademarks or trade names mentioned are the property of their respective owners.

Contacts:

Broadcom Media Relations:	Broadcom Investor Relations:
Dana Brzozkiewicz	Chris Zegarelli
Senior Public Relations Representative	Director, Investor Relations
949-926-6367	949-926-7567
danabrz@broadcom.com	czegarel@broadcom.com