Broadcom Acquires Provigent for $313 Million

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Broadcom (BRCM) today announced that it has entered into an agreement to acquire Provigent, a privately-held company which has offices in Santa Clara and Israel and provides mixed signal semiconductors for microwave backhaul systems. The transaction, which is valued at about $313 million, will be paid in cash except that a portion attributable to certain unvested employee stock options will be paid in the company's restricted stock units. It is expected to be completed in second quarter 2011, subject to the satisfaction of regulatory requirements and other customary closing conditions. Shares are up 0.67% to $39.96.