Etoy, Vaud (February 15, 2008) – arvell (NASDAQ: MRVL), a leader in storage, communications and consumer silicon solutions, today announced that is has opened a world-class research and development facility in Etoy, Vaud. Additionally, Marvell’s European financial operations and worldwide marketing for certain products will be sourced from Etoy. Marvell’s growth in Switzerland has been supported by the Development Economic State of Vaud (VAUD), and is an important milestone for the growing company.
“We have been working to expand our existing operations in the European market and the establishment of our facilities in Etoy brings us one step closer to this goal,” said Dr. Sehat Sutardja, President and CEO of Marvell. “ I’m excited about the opportunity this center provides Marvell to further leverage our strength in engineering, research and development, and expands worldwide marketing for our auto business.”
Research and development in Switzerland will focus on wireless communications devices requiring highly qualified engineers. The facility began operations in February 2006, and currently employs 30 people. The new center reinforces Marvell’s goal of establishing a team in Switzerland of over 100 people by 2015.
“In Etoy, we expect to draw on the outstanding engineering talent with the right level of experience and expertise to develop our next-generation wireless technologies,” said Sutardja. “With the opening of this property, I am confident we will grow and support a tremendous operation in Etoy. It is an exciting time for the European arm of Marvell.”
The new site is within close proximity to the Swiss Federal Institute of Technology of Lausanne and Marvell’s central European center. The company is confident the appealing location will be a draw for recruiting a talented hiring pool. Marvell celebrated the opening of the research, development and financial center with a private celebration for employees and the executive team.
Marvell (NASDAQ: MRVL) is a leader in storage, communications and consumer silicon solutions. The company’s diverse product portfolio includes switching, transceiver, communications controller, wireless, and storage solutions that power the entire communications infrastructure including enterprise, metro, home and storage networking. As used in this release, the terms “company” and “Marvell” refer to Marvell Technology Group Ltd. and its subsidiaries, including Marvell Switzerland Sàrl.
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