Monday, March 21, 2011
Broadcom Buys Provigent For $313M
Irvine-based Broadcom said today that it has acquired Provigent, a developer of high performance mixed signal semiconductors for the microwave backhaul systems market. Provigent was based in Israel and Santa Clara. Broadcom said it will pay approximately $313M, net of cash assumed, to acquire Provigent. The company said that the acquisition will expand its portfolio to more thoroughly address the microwave backhaul equipment market. Provigent was venture backed by Ascend Technology Ventures, Delta Ventures, Globespan Capital Partners, Lightspeed Ventures, Magnum Communications Fund, Pitango Venture Capital, Sequoia Capital, and Stata Venture Partners.