Marvell (MRVL) Monday said it has agreed to buy Avera Semiconductor, the Application Specific Integrated Circuit (ASIC) business of Global Foundries, for $650 million.
Source: www.rttnews.com
Marvell has agreed to buy Avera Semiconductor, the Application Specific Integrated Circuit (ASIC) business of Global Foundries for $650 million plus an additional $90 million in cash. This deal is subject to the completion of certain milestones over the next 15 months. Under the structure of the agreement, Marvell will transfer Avera’s revenue base, strategic design, and enter into a new long-term wafer supply agreement with Global Foundries. The deal is expected to close by the end of 2020.
