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U.S. chip giant Broadcom Corporation yesterday announced the acquisition of Israeli startup Siliquent Technologies.

When the acquisition is closed, Broadcom said it expects to pay about $76 million cash for all Siliquent's stock and vested options. Broadcom will also assume all unvested Siliquent employee stock options, which will entitle the holders to receive up to about 200,000 Broadcom Class A common shares upon vesting.

Privately held Siliquent develops 10 Gigabit Ethernet (10GbE) network interface controllers (NICs) with advanced Ethernet processing technology for server networking, network storage and clustering applications. Its headquarters is in Mountain View, California, and its R&D center is in Tel Aviv.

Siliquent's advanced Ethernet processing technology enables servers to improve overall application performance while taking advantage of the emerging convergence of data, storage and clustering technologies into a single, standards-based Ethernet fabric, Broadcom said.