Marvell Technology Group completed its previously announced acquisition of Cavium in a deal valued at approximately $6 billion.
Cavium, which is based in San Jose, California, offers a portfolio of multi-core processing, networking communications, storage connectivity and security silicon solutions.
Marvell, which is based in nearby Santa Clara, California but has its corporate headquarters in Bermuda, was founded in 1995 and has over 5,000 employees and over 9,000 patents.
“The next wave of semiconductor growth will be fueled by advancements in the data economy,” said Matt Murphy, Marvell’s President and Chief Executive Officer. “Applications such as AI, 5G, Cloud, automotive, and edge computing all require engineering solutions that combine high bandwidth, very low power consumption, and leadership in complex system on a chip solutions. As a combined company, we now offer industry-leading IP, a broad portfolio of infrastructure solutions, and a talented team of innovators ready to tackle our customers’ toughest challenges. We’re excited to get started.”
Syed Ali, who is a co-founder of Cavium and served as its President, Chief Executive Officer and Chairman of the Board of Directors since the company’s launch in 2000, had been appointed to Marvell’s Board of Directors. In addition, Brad Buss and Dr. Edward Frank have also been appointed to the Marvell Board. Brad Buss served as a director of Cavium since July 2016, as CFO of SolarCity from 2014 to 2016, and as CFO of Cypress Semiconductor from 2005 to 2014. Dr. Edward Frank served as a director of Cavium since July 2016. A co-founder of startup Cloud Parity, Dr. Frank served as its CEO until September 2016. Earlier, he served as Vice President of Macintosh Hardware Systems Engineering at Apple from 2009 to 2013 and, prior to Apple, worked at Broadcom Corporation from 1999 to 2009.
