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Marvell completes its acquisition of Innovium
The provider of infrastructure semiconductor solutions has completed its acquisition of Innovium, Inc.,and thus broaden its portfolio of silicon solutions targeting cloud data centers.
The acquisition of Innovium and its complementary offerings further extends Marvell's position in the cloud, and allows Marvell to immediately participate in the fastest growing segment of the switch market with a cloud-optimised solution.
under the terms of the acquisition, as previously reported, Innovium shareholders received USD 1.1 billion in consideration consisting of about 19.05 million shares of Marvell Common Stock.
