Marvell Completes Acquisition of Cavium

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The Marvell Technology Group (Nasdaq: MRVL) acquisition of Cavium, Inc. has been completed as of July 6. The deal is worth approximately $6 billion in cash and stock. The combined company will be primarily focused on the infrastructure market and offer customers networking processing, wireless connectivity, and security products in addition to a portfolio of storage. Matt Murphy, President and CEO at Marvell, stated, ÒApplications 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 customersÕ toughest challenges. WeÕre excited to get started.Ó Marvell revealed that Syed Ali, Brad Buss, and Dr. Edward Frank have been added to the companyÕs Board of Directors as a result of this acquisition. Qatalyst Group and Goldman Sachs served as financial advisers for this transaction. Davis Polk & Wardwell and Sullivan & Cromwell provided legal counsel to the companies.

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