Provigent. Founded in 2000
Provigent to be bought for $350M
American chipmaker Broadcom to purchase Israeli company, which develops system-on-chip solutions for wireless system vendors
Israeli chip developer Provigent will be bought by American chipmaker Broadcom for $350 million, business newspaper Calcalist reported 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 was founded by Dan Charash and Guy Resheff in 2000. Its main growth was recorded in the past three years, following the rise in the use of smartphones.
The company's main customers include China's Huawei Technologies, Israel's Ceragon Networks and Sweden's Ericsson.
Reuters contributed to this report
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