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Broadcom To Acquire Israeli Startup BroadLight - Report

JERUSALEM -(Dow Jones)- Global chip maker Broadcom Corp. (BRCM) has reportedly acquired Israeli startup BroadLight Ltd. for at least $200 million, two Israeli newspapers report Tuesday. The Marker, the financial section of the daily Haaretz newspaper, reports that two companies signed an agreement of intent Tuesday for a $230 million acquisition after four months of negotiations. Financial daily Globes reported that the deal is worth for $200 million. Both companies declined to comment. BroadLight, which develops chips and software for fiber optic broadband networks, was set up in 2000 and has raised about $60 million in venture capital from such funds as Benchmark Capital, Israel Seed Partners and Motorola Ventures. Broadcom has a development center that employs 500 people in Israel and the deal would represent Broadcom's 10th Israeli acquisition. The company, which makes chips for set-top boxes, networking and smartphones, has been expanding its networking portfolio. The company last month closed its $3.7 billion purchase of NetLogic Microsystems. -By Sara Toth Stub, contributing to Dow Jones Newswires, saratoth@gmail.com (Shara Tibken contributed to this story.)

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