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Broadcom to buy Israeli chip firm Provigent

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CIOL Bureau
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TEL AVIV, ISRAEL: Chipmaker Broadcom will announce later on Monday that it is buying Israeli chip developer Provigent Inc for $300 million to $400 million, TheMarker financial news website reported on Monday.

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Provigent develops system-on-a-chip products that enable wireless system vendors to deliver broadband wireless backhaul systems to network operators.

It has raised $55 million from such venture capital firms as Sequoia, Lightspeed and Israel's Pitango.

Provigent officials were not immediately available for comment.

This would mark Broadcom's eighth acquisition in Israel, TheMarker said.

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