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Marvell Closes USD 650m Acquisition of Avera Semi from GlobalFoundries
Friday 08 November 2019

8 November 2019 - California, US-based digital storage company Marvell (NASDAQ: MRVL) has closed the purchase of California-based foundry GlobalFoundries Avera Semiconductor Application Specific Integrated Circuit business, the company said. 
Under the terms of the agreement, Marvell will pay GlobalFoundries USD 650m in cash at closing plus an additional USD 90m in cash if certain business conditions are satisfied within the next 15 months. 
This acquisition brings together Avera Semi's leading custom design capabilities with Marvell's advanced technology platform and scale, creating a leading ASIC supplier for wired and wireless infrastructure. 
The agreements include transfer of Avera's revenue base, strategic design wins with leading infrastructure OEMs, and a new long-term wafer supply agreement between GlobalFoundries and Marvell.
Marvell offers storage, processing, networking, security and connectivity solutions. Marvell's semiconductor solutions transform the enterprise, cloud, automotive, industrial and consumer markets.
GlobalFoundries is a full-service foundry delivering truly differentiated semiconductor technologies for a range of high-growth markets.
GF provides a unique combination of design, development, and fabrication services, with a range of innovative IP and feature-rich offerings including FinFET, FDX, RF, and power/analog mixed signal.
Previously part of IBM's Microelectronics business, Avera has executed more than 2,000 complex designs in its 25-year history, bringing design competencies in analog, mixed-signal and SoCs as well as an IP portfolio including high-speed SerDes, high-performance embedded memory and advanced packaging technology.
Date Published: 08/11/2019
Target: Avera Semiconductor
Country: USA
Deal Size: 650m (USD)
Sector: Computer Hardware
Type: Corporate acquisition
Financing: Cash
Status: Closed
Vendor: GlobalFoundries
Buyer: Marvell