Deal Snapshot
MARVELL CLOSES USD 650M ACQUISITION OF AVERA SEMI FROM GLOBALFOUNDRIES
Friday 08 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. 


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Details
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
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