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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.)

Stock News for Broadcom (BRCM)
DateTimeHeadline
04/26/201503:53:46Broadcom Rating Reiterated by Oppenheimer (BRCM)
04/26/201503:01:05Broadcom's "Outperform" Rating Reaffirmed at FBR & Co. (BRCM)
04/22/201519:00:02Broadcom Corporation Delivers Strong Results
04/22/201510:49:33Broadcom Price Target Raised to $60.00 (BRCM)
04/22/201510:49:31Broadcom PT Raised to $46.00 at Barclays (BRCM)
04/22/201510:13:21Broadcom Rating Reiterated by Deutsche Bank (BRCM)
04/22/201510:12:27Broadcom PT Set at $50.00 by Credit Suisse Group AG (BRCM)
04/22/201510:12:25Benchmark Co. Boosts Broadcom Price Target to $45.00 (BRCM)
04/22/201510:12:23Broadcom Price Target Raised to $55.00 (BRCM)
04/22/201508:00:00Broadcom to Present at Upcoming Conferences
04/22/201506:25:09Broadcom Receives Hold Rating from Canaccord Genuity (BRCM)
04/22/201504:49:23Broadcom PT Raised to $54.00 at Susquehanna (BRCM)
04/22/201503:41:12Topeka Capital Markets Raises Broadcom Price Target to $53.00...
04/22/201503:41:10Broadcom Given New $52.00 Price Target at Cowen and Company (BRCM)
04/22/201503:07:01Broadcom Given New $59.00 Price Target at Brean Capital (BRCM)
04/22/201503:06:58Broadcom Given New $56.00 Price Target at RBC Capital (BRCM)
04/21/201517:09:37Broadcom Earnings Rise 27% in First Quarter
04/21/201517:05:33Quarterly Report (10-q)
04/21/201516:07:55Current Report Filing (8-k)
04/21/201516:05:00Broadcom Reports First Quarter 2015 Results

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