Broadcom said it plans to change the nationality of its corporate structure from Singapore to the United States. The plan was announced by President Donald Trump in an Oval Office press conference as part of a White House visit by Broadcom CEO Hock Tan.

In a statement, Tan said the move “represents the best place for Broadcom to create shareholder value.” The move is somewhat tied to the U.S. government’s tax reform plan unveiled today by Republicans in the House of Representatives.

“We expect the tax reform plan effectively to level the playing field for large multinational corporations headquartered in the United States and to allow us to go all in on U.S. redomiciliation,” Tan said. “However, we intend to redomicile to the United States even if there is no corporate tax reform.”

In its statement, Broadcom did note the "final form and timing of the redomiciliation will be affected by any corporate tax reform."

Broadcom reported $4.5 billion in revenues for its most recent fiscal quarter.

There was no mention of specifically where Broadcom would move its domiciled location, but the company does currently have its U.S. headquarters in San Jose, California. The Washington Post reported Broadcom would move its legal address to Delaware.

Broadcom has been waiting for U.S. regulatory approval for its $5.9 billion acquisition of Brocade Communications. That deal was initially announced a year ago, and was recently noted as being tied up in a review by the Committee on Foreign Investment of the Unites States (CFIUS).

The deal initially allowed both parties to walk away if it did not close by Nov. 1. They have since extended that deadline until mid-December. They noted last month that they expect the deal to close by the end of November.

Reports had indicated that the CFIUS review could stem from national security concerns related to investments by Chinese companies since Broadcom is domiciled in Singapore.

Brocade CEO Lloyd Carney last month said the company was “actively engaged with CFIUS and remained committed to Broadcom’s proposed acquisition of Brocade. "We continue to work diligently and cooperatively with Broadcom to close the transaction as soon as possible in a challenging and dynamic policy and regulatory environment,” said Carney.

Today's news of Broadcom's move back to the United States could positively affect the Broadcom-Brocade deal.

Meanwhile, Extreme Networks recently closed on its acquisition of Brocade’s data center switching, routing, and analytics business.