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.
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