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GlobalFoundries did not announce a new sale of its ASIC business: Marvell agreed to buy that business in 2019 and completed the Avera Semiconductor acquisition on November 5, 2019. The companies’ September 2026 announcement concerns expanded manufacturing capacity for optical connectivity, not another sale.
What is Avera Semiconductor?
Avera Semiconductor was the name used for GlobalFoundries’ application-specific integrated circuit (ASIC) business. On May 20, 2019, Marvell announced definitive agreements to acquire Avera. The announced package included custom ASIC design capabilities, a revenue base, strategic design wins with infrastructure original equipment manufacturers (OEMs), and a new long-term wafer supply agreement between GlobalFoundries and Marvell. GlobalFoundries’ announcement and Marvell’s announcement describe the transaction.
Marvell said the acquisition would add custom design capabilities to its technology platform and scale in wired and wireless infrastructure, including 5G base stations. Those were the companies’ stated strategic rationale and expectations, not proof of subsequent business results. Marvell CEO Matt Murphy said, “Our acquisition of Avera enables us to offer the complete spectrum of product architectures spanning standard, semi-custom to full ASIC solutions,” in the May 20, 2019 announcement.
When did Marvell buy Avera?
Marvell reported that it completed the acquisition on November 5, 2019, in its SEC-filed annual report. The 2019 announcement was the agreement; November 5 was the reported closing date.
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How much did Marvell pay for GlobalFoundries’ ASIC business?
The announced deal terms and the amount later reported in Marvell’s filing are different measures. The 2019 announcement described $650 million in cash at closing plus up to $90 million more if specified conditions were met within 15 months. Marvell’s annual report later stated total purchase consideration of $593.5 million, net of working capital and other adjustments. It also said the additional $90 million asset-purchase condition was terminated by agreement with GlobalFoundries in July 2020. These figures reflect the terms at different stages, not an unchanged $740 million payment.
| Transaction measure | What the sources say |
|---|---|
| Announced cash at closing | $650 million, according to the May 20, 2019 announcements from GlobalFoundries and Marvell. |
| Possible additional payment | Up to $90 million, subject to specified conditions within 15 months, as described in the 2019 announcements. Marvell later reported that the additional asset-purchase condition was terminated by agreement in July 2020 in its annual report. |
| Later reported purchase consideration | $593.5 million, net of working capital and other adjustments, according to Marvell’s SEC-filed annual report. |
| Transaction status | Completed November 5, 2019, according to Marvell’s annual report. |
What does the GlobalFoundries and Marvell deal mean?
The phrase can refer to two distinct developments. The first was Marvell’s completed acquisition of Avera, GlobalFoundries’ ASIC business. The second, announced September 17, 2026, is an expanded multi-year manufacturing agreement. GlobalFoundries said it would increase capacity for its silicon germanium (SiGe) technology at its Burlington, Vermont facility to support demand for next-generation optical connectivity. The companies described the agreement as building on more than a decade of collaboration. GlobalFoundries’ 2026 release covers this later agreement.
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| Development | Date and type | What it involves | Stated purpose |
|---|---|---|---|
| Avera acquisition | Announced May 20, 2019; completed November 5, 2019. | Marvell acquired GlobalFoundries’ ASIC business, including custom-design capabilities, a revenue base and infrastructure OEM design wins; the announcement also included a long-term wafer supply agreement. | Marvell said the acquisition would broaden its product architectures and strengthen its position in wired and wireless infrastructure. |
| SiGe capacity agreement | Announced September 17, 2026; expanded multi-year manufacturing agreement. | Expanded capacity for GlobalFoundries’ SiGe technology at its Burlington, Vermont facility. | The companies said the capacity would support next-generation optical connectivity. |
The available official announcements and filing do not provide an independently attributed Avera revenue, market-share or customer-count figure. They refer to a revenue base and strategic design wins without quantifying them.
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