Broadcom, a Nasdaq-listed communications equipment supplier that has made more than 40 acquisitions, has agreed its second purchase in the past month of a corporate venture-backed company.
Broadcom will pay up to $98m for Percello, an Israel-based developer of microchips for boosting mobile signals indoors, including $12m in performance fees.
Percello closed its series B round at $12m in September 2008 from venture capital firms Granite Ventures and Vertex Venture Capital and T-Mobile Venture Fund, managed by T-Venture, the corporate venturing division of Germany-based phone operator Deutsche Telekom.
The company’s $6m series A in 2007 was led by 7-Main, the family office and investment arm of Ruthi Wertheimer, whose family sold wind turbine blades maker Iscar to Berkshire Hathaway for $4bn in 2006.
Earlier in the month, Broadcom agreed to buy Beceem Communications, a US-based provider of mobile wireless internet connection semiconductors part-owned by Intel Capital.