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Marvell to invest $200m in Israel
Posted By Viva Sarah Press On May 24, 2011 @ 9:35 am In | No Comments
Marvell Technology said it will invest $200 million in its two research and development (R&D) centers in Israel.
The Silicon Valley chip designer co-founders, chairman and CEO Dr. Sehat Sutardja and his wife, VP Weili Dai, were in Israel this week for a rare visit. They met with Marvell Israel management where they announced their ongoing commitment to invest in Israel and plans to accelerate research and development of critical communications, mobile and system-on-chip technologies.
Marvell is one of the biggest investors in Israeli high-tech. The company entered hte Israeli market 10 years ago with its acquisition of Galileo, and has since made investments and acquisitions in Israel totaling $3.5 billion.
“Recently, Israel has faced new, expanded international competition,” said Yossi Meyouhas, general manager of Marvell Israel. “While these new challenges are essential in stimulating global progress in technology, it is critical that organizations invest to ensure Israel remains a recognized leader in R&D and technology innovation.”
Co-founder Dai said Marvell developed many of its advanced technologies in Israel, ranging from enterprise networking and cloud service to mobile cellular capabilities.
Founded in 1995, Marvell Technology has operations across the world, including design centers in the US, Europe, India, Singapore, China and Israel. Its clients include Samsung, Research In Motion, Dell, Sony and Fujitsu.
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