Provigent was one of Magma's first portfolio companies when Magma led its first financing round in 2000. Provigent grew to become a leading provider of highly integrated, high performance, mixed-signal semiconductors for microwave backhaul systems, and developed a unique wireless modem for the point-to-multipoint market. The company's revenues grew rapidly at approximately 100% a year.

In 2011, the company was acquired by Broadcom (NASDAQ: BRCM), a global innovation leader in semiconductors for both wired and wireless communications. Magma's Managing Director Modi Rosen, who was on the board of Provigent, was selected for a small board committee that was assigned the task of making the transaction happen and served a vital, hands-on role in executing the company's sale.

Press Release on Acquisition: http://www.broadcom.com/press/release.php?id=s558912