Broadcom Will Buy Venture-backed Provigent

Chipmaker Broadcom will pay up to $400 million for Israeli microchip developer Provigent Inc., Reuters reported, citing a story in TheMarker, a financial news website. Provigent develops system-on-a-chip products that enable wireless system vendors to deliver broadband wireless backhaul systems to network operators, Reuters wrote. The company has raised upwards of $55 million from venture capital firms Sequoia Capital, Lightspeed Venture Partners and Israel's Pitango.

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