Marvell buys Swedish comms company
1 min read
Fabless semiconductor company Marvell has bought Xelerated for undisclosed terms. Xelerated's AX and HX family of network processor and programmable switches are seen by Marvell as complementing its product portfolio.
Paul Valentine, vice president of marketing for Marvell's Enterprise Business Unit, said: "The acquisition reflects Marvell's increasing strategic investments in providing a new generation of advanced network infrastructure solutions designed to enable cloud based services. Xelerated brings yet another level of performance and capability to Marvell's technology."
Eva Lindqvist, Xelerated's ceo, noted: "Joining the Marvell family is a fantastic opportunity for us to exploit the full potential of our technology and provide more comprehensive end to end solutions to our customers."
Marvell says it will continue to work with EZChip on NP-4 and NP-5 processors and is committed to a long term relationship with the company.
The deal also represents the second profitable semiconductor exit in the past 12 months for Amadeus Capital Partners, following Broadcom's acquisition of Icera in 2011. Amadeus Venture Partner Simon Cornwell, who also chairs Xelerated's board, said: "This is an excellent step for Xelerated and we wish the company continued success as part of Marvell. The synergies are strong and will benefit both entities in this exciting and fast growing sector."
