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.
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.