Integrates into Marvell's Unique, End-to-End CXL Platform for
Cloud Data Centers
SANTA
CLARA, Calif., May 9, 2022
/PRNewswire/ -- Marvell (NASDAQ: MRVL) today announced a
definitive agreement to acquire privately-held Tanzanite Silicon
Solutions, Inc., a leading developer of advanced Compute Express
Link™ (CXL™) technologies, in an all-cash transaction. Marvell's on-going data center-focused
investments, including in its CXL solutions, have expanded the
company's addressable market to advance the industry's most
comprehensive portfolio of cloud-optimized silicon solutions. With
today's announced acquisition, Marvell strengthens its CXL development
initiatives.
Existing server architectures face multiple memory scaling
challenges and lack the ability to share memory resources
efficiently. Simultaneously, workloads such as artificial
intelligence (AI), machine learning (ML), analytics, and
large-scale search, along with an emergence of the metaverse, are
demanding increased memory performance and composability in the
cloud. Silicon components based on CXL, an industry standard for
connecting processors, accelerators and memory, will facilitate new
cloud data center architectures with significant performance and
efficiency benefits.
Tanzanite has developed extensive expertise in CXL technology
that will help further accelerate Marvell's vision of fully composable cloud
infrastructure. CXL is integral to the company's data center
portfolio of compute, electro-optics, networking, security and
storage. The benefits of CXL include infrastructure agility to
instantly allocate resources tailored to workload requirements,
resulting in improved utilization and reduced total cost of
ownership (TCO).
"We believe that CXL will be a significant game-changer in
enabling optimal resource utilization in next generation data
centers, and the acquisition of Tanzanite advances our abilities to
address our customers' most challenging issues," said Dan Christman, executive vice president, Storage
Products Group, Marvell.
"Marvell's investment underscores
our commitment to deliver on the promise of CXL across our
industry-leading cloud portfolio spanning compute, electro-optics,
networking, security and storage."
"We are excited to see our vision for CXL leadership take a leap
forward as part of Marvell, a
company that is renowned for its customer-focused innovation," said
Shalesh Thusoo, CEO, Tanzanite. "CXL
technologies offer a unique value proposition for a multitude of
use cases and are helping shape the next generation composable data
center. I'd like to thank our industry partners for their
unwavering support and the entire Tanzanite team for their
dedication and commitment in pioneering this technology and
enabling us to achieve this milestone today."
"The CXL standard will play a significant role in helping the
industry deliver fully composable infrastructure for the cloud,"
said Noam Mizrahi, corporate chief
technology officer, Marvell. "The
integration of CXL across our end-to-end, cloud-optimized silicon
portfolio will bring new levels of data center efficiency,
scalability and flexibility to power emerging metaverse and next
generation AI applications."
The future cloud data center will be built on fully
disaggregated architecture utilizing CXL technology, requiring
greater high-speed interconnectivity than ever combined with
optimized compute, networking, memory, security and storage chipset
solutions. With the broadest 5nm technology platform and the
industry's most complete end-to-end data infrastructure building
blocks, Marvell is positioned as
the cloud semiconductor solutions partner of choice. Marvell's comprehensive portfolio of cloud
offerings includes high-speed Alaska® active electrical cable
(AEC) PAM4 DSPs and Ethernet PHYs; Bravera™ SSD and HDD
controllers; Inphi® PAM4 electro-optics;
COLORZ® data center interconnects (DCIs);
OCTEON® data processor units (DPUs) for security,
offload, and acceleration; Teralynx® Ethernet switches;
custom Arm®-based server CPUs; and full custom
ASICs.
Marvell will present the
fundamentals of CXL technology and its role in helping bring fully
composable cloud data center infrastructure to fruition in an
upcoming Tech Talk webinar which will be announced later this
month.
The transaction is expected to close in the second quarter of
the current fiscal year and is subject to the satisfaction of
customary closing conditions, including approval by Tanzanite's
shareholders.
About Marvell
To deliver the data infrastructure technology that connects the
world, we're building solutions on the most powerful foundation:
our partnerships with our customers. Trusted by the world's leading
technology companies for over 25 years, we move, store, process and
secure the world's data with semiconductor solutions designed for
our customers' current needs and future ambitions. Through a
process of deep collaboration and transparency, we're ultimately
changing the way tomorrow's enterprise, cloud, automotive, and
carrier architectures transform—for the better.
Marvell and the M logo are
trademarks of Marvell or its
affiliates. Please visit www.marvell.com for a complete list of
Marvell trademarks. Other names
and brands may be claimed as the property of others.
Cautionary Statement Regarding Forward Looking
Statements
This document contains certain forward-looking statements within
the meaning of the federal securities laws with respect to the
proposed transaction between Marvell and Tanzanite, including statements
regarding the benefits of the transaction, the anticipated timing
of the transaction and the products and markets of each company.
These forward-looking statements generally are identified by the
words "believe," "project," "expect," "anticipate," "estimate,"
"intend," "strategy," "future," "opportunity," "plan," "may,"
"should," "will," "would," "will be," "will continue," "will likely
result," and similar expressions. Forward-looking statements are
predictions, projections and other statements about future events
that are based on current expectations and assumptions and, as a
result, are subject to risks and uncertainties. Many factors could
cause actual future events to differ materially from the
forward-looking statements in this press release, including but not
limited to: (i) the risk that the transaction may not be completed
in a timely manner or at all, (ii) the failure to satisfy the
conditions to the consummation of the transaction, including the
approval of the transaction by the stockholders of Tanzanite, (iii)
the occurrence of any event, change or other circumstance that
could give rise to the termination of the transaction, (iv) the
effect of the announcement or pendency of the transaction on
Tanzanite's business relationships, operating results, and business
generally, (v) risks that the proposed transaction disrupts current
plans and operations of Tanzanite or Marvell and potential difficulties in
Tanzanite employee retention as a result of the transaction, (vi)
risks related to diverting management's attention from Marvell's ongoing business operations, (vii)
risks arising from any legal proceedings that may be instituted
against Marvell or against
Tanzanite related to the transaction, (viii) the ability of
Marvell to successfully integrate
Tanzanite's operations and product lines, (ix) the ability of
Marvell to implement its plans,
forecasts, and other expectations generally or with respect to
Tanzanite's business after the completion of the proposed
transaction and realize anticipated synergies and cost savings in
the time frame anticipated or at all, (x) the risk of downturns in
the highly cyclical semiconductor industry, (xi) Marvell's or Tanzanite's failure to achieve
expected revenues and forecasted demand from customers, (xii) the
impact of public health crises, such as pandemics (including
coronavirus (COVID-19)) and epidemics and any related company or
government policies and actions to protect the health and safety of
individuals or government policies or actions to maintain the
functioning of national or global economies and markets, and (xii)
Marvell's ability to finance the
transaction. The foregoing list of factors is not exhaustive. You
should carefully consider the foregoing factors and the other risks
and uncertainties that affect the business of Marvell described in the "Risk Factors"
section of Marvell's Annual
Reports on Form 10-K, Quarterly Reports on Form 10-Q and other
documents filed by Marvell from
time to time with the SEC. These filings identify and address other
important risks and uncertainties that could cause actual events
and results to differ materially from those contained in the
forward-looking statements. Forward-looking statements speak only
as of the date they are made. Readers are cautioned not to put
undue reliance on forward-looking statements, and Marvell assumes no obligation and does not
intend to update or revise these forward-looking statements,
whether as a result of new information, future events, or
otherwise. Marvell does not give
any assurance that Marvell will
achieve its expectations.
For further information, contact:
Kim Markle
pr@marvell.com
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SOURCE Marvell