Broadcom acquires BroadLight for $230 mn

BANGALORE, INDIA: Broadcom, a US based chip maker, signed an agreement to buy Israel based, BroadLight for $230 million.

According to the financial news website, TheMarker, the two companies signed a letter of intent four months ago and have now completed negotiations.

BroadLight, that provides semiconductors and software for fibre to the premises broadband access networks, was established in 2000 and has raised $55 million from investors, namely, Azure Capital Partners, Benchmark Capital, Motorola Ventures and Star Ventures.

Broadcom had acquired Provigent last year for $313 million. A lot of business deals have been signed in Israel's high tech sector.

To name a few, Cisco Systems would pay $5 billion for NDS, Avaya would acquire video conferencing firm, Radvision for $230 million and Covidien would pay about $300 million for Israel's superDimension.