Marvell has acquired Avera Semiconductor, the Application Specific Integrated Circuit (ASIC) business of GLOBALFOUNDRIES. After working capital adjustments, the net deal consideration of approximately $600 million is being funded by a short-term bridge loan. By combining Marvell's advanced technology platform and scale with Avera's custom design capabilities, Marvell is now able to offer the complete spectrum of semiconductor solutions spanning 5G, data center, enterprise, and automotive applications.
With the addition of Avera, Marvell has created an infrastructure ASIC powerhouse with immediate scale and complete design flexibility, making it an ideal partner for leading wireline and wireless OEMs. The Avera team, originally part of IBM's Microelectronics business, has built a 25-year heritage of delivering leading solutions to blue-chip customers.
Marvell revolutionized the digital storage industry by moving information at speeds never thought possible. Today, that same breakthrough innovation remains at the heart of the company's storage, processing, networking, security and connectivity solutions. With leading intellectual property and deep system-level knowledge, Marvell's semiconductor solutions continue to transform the enterprise, cloud, automotive, industrial and consumer markets.
