Irvine-based chipmaker Broadcom Corp. is buying Israeli chip startup Provigent Ltd. for $313 million.
Broadcom is paying cash and some stock to buy Provigent in a deal that’s expected to close in the second quarter.
The deal first was rumored earlier this month.
Provigent makes chips for wireless network operators that allow for the transfer of voice, data and video signals from cellular base stations to their main network.
The chips are seen as a key part of a push by wireless service providers to offer faster downloads of information, video and music on their phones.
Provigent has its U.S. headquarters in Santa Clara and has raised about $55 million in venture funding.
The company had been prepping for an initial public offering on the Nasdaq exchange before entering talks with Broadcom and other potential acquirers, including Marvell Technology Group Ltd. and San Diego’s Qualcomm Inc., according to Israeli business news website Globes.
Broadcom makes chips for computers, networking, consumer electronics and cell phones.
It’s the county’s biggest chipmaker with $6.6 billion in yearly sales.
The pending buy of Provigent brings Broadcom’s acquisition of Israeli companies to eight.
Recent ones include Percello Ltd. for $86 million and Sightic Vista Ltd. for an undisclosed amount in November.
