Marvell to Pay $7.5 Billion For Cavium Co-founded by Pakistani-American NEDUET Alum
Marvell Technology announced on November 20 that it would buy Cavium in a $6 billion stock deal, according to CNBC News . The value of the deal jumped to $7.5 billion enterprise value at the close of market on November 22, 2017. Raghib Husain Raghib Husain, Pakistani-American cofounder of Cavium and an alumnus of NED University of Engineering Technology , sent the following email today confirming the deal to his friends: "Now that the news is public you must have figured out why I was so busy lately. It’s a day with mixed feelings for me. It’s like sending 17yrs old off to college. In any case I’m thankful to Allah to give us opportunity to experience this." "To summarize: I started Cavium with Syed in late 2000, took public in 2007 with a Market cap of about $600M, ten years later in 2017, we are an established semiconductor company with revenue of $1B, 2000 employees and Market Cap of $5B and now consolidated for over $6.5B enterprise value. At the market cl...