Broadcom is buying network software manufacturer LVL7 Systems for $62 million in cash.

LVL7 Systems sells software that runs switches and routers for small and medium-sized businesses. By delivering that software to OEMs and integrating and testing it with their products, LVL7 cuts development costs and time to market.

The deal has been approved by both companies' boards and LVL7 shareholders, and it should close by the end of the year.

Broadcom supplies various chips to some of the biggest names in networking, including Cisco, Nortel, HP and Motorola. LVL7 will let it offer a complete package of hardware and software to vendors making SMB equipment, helping them bring out new products and enter new technology areas, such as wireless LAN switching, faster. LVL7 and Broadcom has been partners for several years.

LVL7 was founded in 1999 and has about 170 employees. They will become Broadcom employees and remain in the buildings as currently, Broadcom said.