Marvell confirms Cavium takeover for USD 6 billion

(Telecompaper) Marvell Technology has confirmed an agreement to acquire Cavium for USD 6 billion, in a bid to relaunch the company in the networking market. If approved, Cavium shareholders will own around 25 percent of the combined group, which will have around USD 3.4 billion in annual sales. …read more

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Norwegian payment systems Vipps, BankAxept and BankID plan to merge

(Telecompaper) Norway’s banks have signed a declaration of intent to merge the payment systems Vipps, BankAxept and BankID Norge, according to a report by news agency ANB-NTB (Avisenes Nyhetsbyra-Norsk Telegrambyra). The aim is to have the merged entity up and running by 01 August, and there are plans to compete on the international market, too. The deal will require competition authority approval. …read more

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Marvell to buy Cavium for USD 6 bln - report

(Telecompaper) Market watchers said Marvell is trying to remake itself after a corporate scandal which led to the exit of its founders under pressure from activist investor Starboard. This would be the largest acquisition to date for Marvell. Cavium, a maker of network processors, is one of several companies trying to use ARM equipment to break Intel’s hold on the server microprocessor market. …read more

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