Broadcom to buy Israeli hi-tech co. Provigent for $313m

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

By REUTERS
March 21, 2011 18:41
1 minute read.
Broadcom to buy Israeli hi-tech co. Provigent for $313m

dollars bundle 224 88. (photo credit: Channel 10)

 
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US chipmaker Broadcom (BRCM.O) is buying Israeli chip developer Provigent Inc for $313 million to gain access to its microwave transmission technology.

"With the addition of Provigent's engineering expertise in microwave radio products, the company expands its robust portfolio to more thoroughly address the $5 billion microwave backhaul equipment business," Broadcom said 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. Backhaul is the portion of a network that links the core network to smaller networks.

To manage growth in wireless traffic and transition to fourth-generation technology, carriers are faced with the challenge of backhauling data from cell sites to the core network. Microwave backhaul is the most prevalent type of technology used in the mobile backhaul business, representing more than 50 percent of all solutions.

Broadcom said it expected the acquisition to be neutral to earnings in 2011. The transaction was expected to close in Broadcom's second quarter.

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

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