News in Brief
Broadcom to Move Operations Into Research Park
Provider of wireless broadband communications semiconductors, Broadcom Corp., will be moving to the University Research Park in UC Irvine in about two years. Eight buildings will be used by Broadcom, making them the largest tenant in the park.
Broadcom currently has two small buildings in Irvine and decided to consolidate and move to UCI’s research park because their lease was ending and they needed more space for expansion.
Broadcom’s move to UCI will give them more visibility and allow them to build a stronger connection between wireless communication research done by Broadcom and by UCI faculty.
UC Settles Part of Enron Lawsuit for $168 Million
Next week, The University of California will move to preliminary court approval of the settlement with Enron directors, which grants the UC $168 million.
The agreement was reached on Oct. 6, 2004. Of Enron’s remaining $200 million insurance policy, $32 million will go to Enron’s bankruptcy estate, $13 million will go to the defense of certain defendants in exchange for them not opposing the settlement and $155 million to the UC. The UC will also receive over $13 million in insider trading proceeds.
This agreement will be the fourth settlement in the Enron case, totaling half a billion dollars granted to the UC.