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© mikael damkier dreamstime.com Business | November 06, 2019

Marvell completes acquisition of Avera Semi

Marvell has completed its acquisition of Avera Semiconductor, the Application Specific Integrated Circuit (ASIC) business of GlobalFoundries.

After working capital adjustments, the net deal consideration of approximately USD 600 million is being funded by a short-term bridge loan By combining Marvell's technology platform and scale with Avera's custom design capabilities, Marvell says it is now able to offer the complete spectrum of semiconductor solutions spanning 5G, data center, enterprise, and automotive applications. "With the addition of Avera, we have created an infrastructure ASIC powerhouse with immediate scale and complete design flexibility, making Marvell the ideal partner for leading wireline and wireless OEMs," says Matt Murphy, president and CEO of Marvell, in a press release. "The Avera team, originally part of IBM's Microelectronics business, has built a 25-year heritage of delivering leading solutions to blue-chip customers, and we are thrilled to welcome them to Marvell."
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November 12 2019 7:31 am V14.7.10-1