I am excited to share that today Marvell and Innovium have signed a definitive agreement to join forces.
Innovium’s vision has been centered on delivering breakthrough switch silicon and choice for next-generation cloud and edge data centers. Bringing technology leadership and customer-focused innovation to the market is what drives our team every day. Innovium’s TERALYNX silicon and software has been selected by several leading data center customers in building out their network architectures.
As we engaged with Marvell, it became clear that our data center optimized portfolio combined with Marvell’s scale, leading technology platform and complementary portfolio, can accelerate our growth and vision of delivering breakthrough switch silicon for the cloud and edge. Together, we can deliver a leading Ethernet switch portfolio targeting the most important segments, including cloud-scale data centers, enterprise networks, and 5G.
The unified company will have increased scale and breadth to be a market leader. We will deliver significant value for customers by providing architectural choice and flexibility to meet a diverse set of requirements. This combination will enable Marvell to drive two dedicated R&D efforts, TERALYNX™ for the cloud data center switching market, and Prestera™ for the enterprise, carrier switch and related markets.
I want to recognize and thank our valued employees for their passion, commitment, and outstanding execution in getting to this milestone. Also, thanks to our customers, partners and investors for unwavering relationships. We will continue to provide best-in-class technology, support and engagement across the Innovium product portfolio.
The deal is expected to close by the end of calendar 2021, subject to the satisfaction of customary closing conditions, including applicable regulatory approvals and approval by our shareholders. Until that time, we will operate as two independent companies.
We appreciate your support as we embark on the next phase for Innovium.