TEL AVIV, March 21 (Reuters) - Chipmaker Broadcom BRCM.O 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. (Reporting by Tova Cohen; Editing by Jon Loades-Carter)