Marvell CEO Matt Murphy said in a CNBC TV show that the acquisition of Cavium through $6 billion has made Marvell a player who provides infrastructure for cloud computing and the Internet of Things. Of course, he was also surprised by the positive reaction of the market to the deal. For example, the stocks of both companies rose, which exceeded his expectations.
Matt Murphy said that in the last few days of his negotiations with investors, they said they would like to see Marvell's transformation direction, namely infrastructure, cloud control, and IoT-level business focus, which means it can cover all clouds and The interconnection of the edges.
Matt Murphy has been in charge of Marvell since July 2016. When he joined Marvell, he set three main goals: to rectify the financial situation, establish a management team, and reintegrate the company. He revealed that the move was part of a larger restructuring of the semiconductor company under his leadership.
For Marvell, Matt Murphy sees this as a representative company in the semiconductor industry with great technology, architecture, engineering and products. “We will refocus on the storage, networking, cloud computing and infrastructure markets, which is the main driving force for the company in the future. Last year we returned to the right track and made great progress with our customers. We will take advantage of the Cash and debt financing are driving this merger with Cavium.†He said that the merger with rival Cavium will help Marvell's customer portfolio and business diversification, and reduce the hard drive business that used to account for 40% of Marvell's sales. 25%.
A significant portion of these 25% grow with hard drives. Drives in the growing market segment include drives into data centers or enterprise storage, high-capacity drives, nearline drives, and more.
In addition, Matt Murphy pointed out that the acquisition will create a leader in "providing silicon, software and solutions for the cloud" to show the "industrial Internet of Things" to the market. “This is an exciting combination. The combination of two highly complementary companies can make a bigger difference. More data will be connected to the Internet through Marvell and Cavium technology in the future,†he stressed.
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