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920-330 Communication Server 1000 Rls.5.0 IP Networking Design

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920-330 exam Dumps Source : Communication Server 1000 Rls.5.0 IP Networking Design

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Nortel Nortel Communication Server 1000

Nortel Builds on its Unified Communications imaginative and prescient, options Portfolio | existent Questions and Pass4sure dumps




March 05, 2007 09:02 ET

CEO Mike Zafirovski Outlines Nortel UC vision at VoiceCon 2007

ORLANDO, FLORIDA--(CCNMatthews - March 5, 2007) - At VoiceCon Spring 2007 this week, Nortel(1) (TSX:NT)(NYSE:NT) is outlining its imaginative and prescient for unified communications (UC) and unveiling original options designed to supply companies with fundamental and dependable tips on how to carry voice, video and statistics over IP and permit superior unified communications.

Nortel President and CEO Mike Zafirovski should subsist a keynote speaker on Tuesday, and should debate how unified communications solutions and converged applications are poised to radically change business communications.

"Unified communications basically adjustments the manner corporations talk, simplifying the deluge of communications with a single, seamless interface," observed Zafirovski. "Nortel and their partners are working to create a UC event that makes people more productive and responsive, with a affluent communications journey in the office or on the go."

Nortel's unified communications vision makes a speciality of providing solutions that align to the company ambiance the business makes expend of today. These solutions allow clients to suffer streamlined communications within their company utility whereas leveraging their existing IT investments - truly UC your manner.

As section of its increasing unified communications portfolio, Nortel is introducing a couple of original options that bring a richer set of UC tools whereas guaranteeing the resiliency of the communications community.

Nortel's cornerstone IP Telephony answer, the verbal exchange Server (CS) one thousand will bring original capabilities and enhancements to additional fortify this leading VoIP platform. a brand original unencumber of CS 1000 will give better reliability and redundancy, more desirable community and voice call protection and original E911 capabilities, All aimed at making inevitable companies can depend on their community for principal communications wants. via deliberate interoperability with Microsoft office Communications Server 2007, this original unlock will carry unified communications capabilities as section of the inventive Communications Alliance roadmap.

the brand original CS 1000 architecture will extend its advocate for open requirements, with advocate for an open operating system and birth on industrial off-the-shelf (COTS) hardware from IBM and other suppliers, to ameliorate deployment flexibility and manageability of the network. significant simplification of the portfolio features and pricing bundles will execute it easier for partners and resellers to quote and sell. This original release is planned for availability in 2Q07.

moreover today Nortel announced the well-known availability of a brand original release of the award-profitable Multimedia communication Server (MCS) 5100. This original liberate improves productivity with the aid of proposing users with tight integration of telephony and multimedia functions inside IBM Lotus Notes. It likewise elements a couple of vast enhancements, including more advantageous and simplified collaboration capabilities that permit a full ambit of voice, video, conferencing, electronic mail, IM and presence capabilities on the click on of a mouse, along with superior mobility capabilities that deliver a prosperous communications suffer for mobile workers. the brand original MCS 5100 unencumber likewise introduces assist for brand original SIP-based IP phones improving usability and flexibility and improves the overall protection, reliability, manageability and scalability of the core platform, which now operates on IBM servers with a Linux working gadget.

Nortel is likewise introducing Unified Messaging (UM) 2000, a feature-rich, carrier-grade reply aiding as much as a million clients that allows for voicemail, fax and electronic mail to subsist accessed together through regular e-mail functions and integrates with Microsoft's energetic directory®. UM 2000 is standards-based in order that it may possibly operate in a multivendor voice network, and is centered to world organizations as well as carriers that present their consumers unified messaging options.

To aid organizations installation UC-optimized networks, Nortel is additionally unveiling converged facts networking enhancements to its North American advertising and marketing campaigns, which build on the a hit IPT 1-2-three crusade launched final year. These crusade enhancements consist of companion tools, focused claim generation actions, pre-engineered statistics programs, and optional services that execute it simpler and extra not pricey for licensed channel companions to deploy a LAN that supports shoppers' VoIP and UC needs.

These records programs and services can likewise subsist quoted beginning in April 2007 and encompass options to enable the entire deployment of energy over Ethernet, VoIP-Optimized cozy Routing for WAN access, and WLAN for mobility and optional renovation, setting up and technical advocate capabilities. Nortel's North American crusade likewise comprises promotion and incentive classes attainable these days through licensed Nortel channel partners for organizations who're customizing their network for unified communications.

About Nortel

Nortel is a recognized leader in supplying communications capabilities that execute the pledge of business Made elementary a reality for their shoppers. Their subsequent-technology applied sciences, for each carrier issuer and enterprise networks, advocate multimedia and company-essential applications. Nortel's applied sciences are designed to aid eradicate trendy limitations to effectivity, hurry and efficiency by simplifying networks and connecting people to the suggestions they need, after they necessity it. Nortel does business in additional than a hundred and fifty nations everywhere. For more assistance, debate with Nortel on the web at For the newest Nortel news, consult with

certain statements during this press unencumber may additionally comprise words equivalent to "may", "expects", "might also", "anticipates", "believes", "intends", "estimates", "goals", "envisions", "seeks" and different an identical language and are regarded forward-searching statements or advice below applicable securities legislations. These statements are in accordance with Nortel's existing expectations, estimates, forecasts and projections in regards to the operating environment, economies and markets in which Nortel operates. These statements are province to vital assumptions, dangers and uncertainties, that are complicated to prognosticate and the genuine outcomes may well subsist materially distinctive. additional, exact outcomes or hobbies could vary materially from those contemplated in ahead-searching statements as a result of right here(i) dangers and uncertainties relating to Nortel's restatements and connected matters including: Nortel's most recent restatement and two previous restatements of its monetary statements and connected movements; the negative influence on Nortel and NNL of their most coincident restatement and delay in submitting their fiscal statements and linked fitful reviews; prison judgments, fines, penalties or settlements, or any mammoth regulatory fines or other penalties or sanctions, involving the ongoing regulatory and criminal investigations of Nortel in the U.S. and Canada; any sizable pending civil litigation moves now not encompassed by artery of Nortel's proposed category action contract; any huge money payment and/or giant dilution of Nortel's latest fairness positions resulting from the approval of its proposed classification motion agreement; any unsuccessful remediation of Nortel's cloth weaknesses in interior manage over fiscal reporting leading to an inability to record Nortel's results of operations and pecuniary circumstance precisely and in a well timed manner; the time required to implement Nortel's remedial measures; Nortel's inability to access, in its existing form, its shelf registration filed with the united states Securities and alternate fee (SEC), and Nortel's beneath investment grade credit standing and any further opposed repercussion on its credit standing because of Nortel's restatements of its monetary statements; any opposed gain an consequence on on Nortel's business and market rate of its publicly traded securities arising from carrying on with indigent publicity involving Nortel's restatements; Nortel's advantage necessity of aptitude to appeal to or retain the personnel essential to achieve its company aims; any transgression by Nortel of the endured record necessities of the NYSE or TSX causing the NYSE and/or the TSX to commence suspension or delisting strategies;(ii) hazards and uncertainties regarding Nortel's enterprise together with: yearly and quarterly fluctuations of Nortel's working outcomes; decreased claim and pricing pressures for its products as a result of world pecuniary conditions, giant competitors, aggressive pricing practice, cautious capital spending with the aid of valued clientele, expanded business consolidation, hastily changing applied sciences, evolving business requisites, universal original product introductions and short product existence cycles, and different tendencies and trade features affecting the telecommunications industry; the sufficiency of these days announced restructuring moves, including the capabilities for better exact fees to subsist incurred in reference to these restructuring actions compared to the estimated fees of such movements and the capability to obtain the targeted can pervade savings and reductions of Nortel's unfunded pension legal responsibility deficit; any material and hostile affects on Nortel's performance if its expectations concerning market claim for particular products betray to subsist incorrect or as a result of determined limitations in its efforts to expand internationally; any reduction in Nortel's working effects and any linked volatility available in the market expense of its publicly traded securities arising from any decline in its grievous margin, or fluctuations in odd forex change quotes; any harmful developments linked to Nortel's give shrink and shrink manufacturing agreements together with because of the usage of a sole enterprise for key optical networking solutions add-ons, and any defects or mistakes in Nortel's latest or deliberate products; any negative influence to Nortel of its failure to achieve its enterprise transformation aim; extra valuation allowances for All or a component of its deferred tax assets; Nortel's failure to give protection to its highbrow property rights, or any adverse judgments or settlements arising out of disputes concerning intellectual property; alterations in legislation of the cyber web and/or different points of the industry; Nortel's failure to correctly function or integrate its strategic acquisitions, or failure to consummate or subsist successful with its strategic alliances; any terrible repercussion of Nortel's failure to felicitous adequately its pecuniary and managerial handle and reporting methods and processes, manage and grow its business, or create a bizarre possibility management method; and(iii) dangers and uncertainties concerning Nortel's liquidity, financing arrangements and capital together with: the influence of Nortel's most recent restatement and two outdated restatements of its fiscal statements; any inability of Nortel to control money stream fluctuations to fund working capital necessities or achieve its business aims in a well timed manner or acquire extra sources of funding; exorbitant stages of debt, boundaries on Nortel capitalizing on company alternatives because of pilot facility covenants, or on obtaining further secured debt pursuant to the provisions of indentures governing inevitable of Nortel's public debt concerns and the provisions of its aid facility; any enlarge of limited money requirements for Nortel whether it is unable to relaxed option advocate for tasks coming up from inevitable typical course enterprise actions, or any necessity of aptitude of Nortel's subsidiaries to deliver it with enough funding; any indigent consequence to Nortel of the deserve to execute greater defined profit plans contributions sooner or later or publicity to consumer credit risks or necessity of aptitude of consumers to meet cost duties under consumer financing preparations; any negative repercussion on Nortel's capacity to execute future acquisitions, boost capital, vicissitude debt and withhold personnel arising from inventory rate volatility and extra declines in the market cost of Nortel's publicly traded securities, or the percentage consolidation leading to a subside total market capitalization or hostile repercussion on the liquidity of Nortel's established shares. For additional info with respect to determined of those and other components, note Nortel's Annual report on Form10-okay/A, Quarterly reviews on contour 10-Q and different securities filings with the SEC. unless otherwise required with the aid of applicable securities legal guidelines, Nortel disclaims any objective or responsibility to update or revise any forward-looking statements, no matter if on account of original suggestions, future routine or otherwise.

(1)Nortel, the Nortel brand and the Globemark are logos of Nortel Networks.

Microsoft software to vitality Nortel Telecom Servers | existent Questions and Pass4sure dumps

it could possibly were one of the longest skits ever to subsist delivered from the legendary studios of Saturday nighttime live -- NBC Studio 8H at 30 Rockefeller Plaza -- before in fact coming to the punch line. but at final Microsoft CEO Steve Ballmer, together with the president/CEO of telecom server issuer Nortel, Mike Zafirovski, announced the subsequent facet of their collaboration, which All started formally in June of closing year.

Their mission is to combine home windows, office, exchange, and visible Studio -- All 4 pillars of Microsoft -- into the subsequent round of Nortel server hardware on Intel platforms. The smaller Nortel Communications Server a thousand will subsist built-in with the original Unified Messaging version of trade Server, for birth in the 2d quarter of this year; greater excessive-end fashions with multimedia conferencing capabilities on-board will subsist delivered within the fourth quarter.

however what does this mean? Microsoft's demo -- simplest a bit of upgraded from ultimate yr -- offers their most suitable and deepest glimpse into the businesses' joint plans. in short, Microsoft plans to install yet an extra speedy messaging platform: office Communicator, whose initials Microsoft and Nortel are the usage of to characterize the notebook as a communications materiel in diagrams.

beneath the brand original scheme, a user can utilize his OC to direct a message to anyone who has an identification in vigorous listing. So in case you've acquired an e-mail message from someone, you could reply the usage of IM (the console of the OC) or using the cellphone; and in this latter case, the telephone becomes a contour of Nortel peripheral gadget. the usage of voice commands given to the audio "interface" of Microsoft change, that you could gain the phone gadget reply with a voice message, an IM message (transformed to text after which sent) or with an e-mail.

in a similar way, the consumer's OC may likewise subsist used to redirect call-forwarding, in order that any individual placing a traditional cellphone call can reach the requisite party on his OC, or conceivably via his alternate proxy, that could catch a message and ahead it to his e-mail. There it can likewise subsist replayed as an audio tune, or conceivably translated to textual content.

It isn't a particularly original idea, however what distinguishes this inevitable fashion to the vicissitude is that Microsoft's office utility is so ubiquitous in business today that the mixing of point-of-presence in applications may well subsist simply tempting sufficient to come by companies to coincide with Nortel.

As Zafirovski took the helm of Nortel remaining yr, its market share in voice-over-IP become declining via a fee of 12% per year, by Merrill Lynch estimates. It turned into a distant third in market share in core routers in the back of Cisco and Juniper Networks, although it became first in fiberoptic networking switches and gateways. still, Zafirovski - hired faraway from Motorola - described the start of his mission as the equivalent of standing at ground zero.

His strategy, as anticipated, was transformational: He desires to come by Nortel out of markets the location it would not compete, by means of introducing communications servers this 12 months so one can combine functionality from typical fork exchanges - where the company's market share is lagging - while conserving its ground in leading-part applied sciences. His concept: promote organizations on the strategy of replacing venerable PBXes with x86 structure servers.

Microsoft is helping Zafirovski to execute that case. In so doing, it subsist leveraging its complete company portfolio, although it aptitude floating some wild concepts, comparable to implying the presence of a quiescent market among developers to create custom toolbar purposes for PowerPoint and other workplace 2007 functions, that utilize element-of-presence alerts from Microsoft trade UM running on Nortel servers. Ballmer calls this a "line-of-company" utility, and some gain likened the thought to one more kind of line, although with a bit of ingenuity -- coupled with a truckload of sorely missing practicality -- the concept simply may work.

"individuals gain PBXes, americans gain audio-conferencing methods or solutions that they buy, video-conferencing options, electronic mail - hopefully All Microsoft change - speedy messaging solutions, and these are All islands - the manner you come by provisioned, the artery you check in, your username, your tackle, the manner you learn someone," famous Ballmer right through his speech these days.

"how many messages will they depart, on commonplace, in numerous locations for someone?...You could stutter it subsist a very livable world; All of us Do are animated in it, definitely, every day. That does not execute it the finest they are able to Do - the top-rated for the conclusion-user, not to mention for the IT fork or for the individuals who're establishing company functions."

"you might subsist going to subsist capable of give your clients a magnificent, solitary journey for instant messaging, presence, and naturally, conferencing," Zafirovski clarified.

Ballmer painted a broad photograph, the usage of some fuzzy brushstrokes, of an developed telecommunications infrastructure for All humanity, beginning this year with a circulation to an "integrated" communications structure. here, clients subsist trained to operate smarter communications shoppers, and Microsoft would vitality the software for those valued clientele. This integration will tie every thing together, including the mobilephone, during those years in which it is never purposeful for places of work to accept as precise with casting off the mobilephone altogether for the OC.

however through 2010, a brand original facet would start, driven through person claim to enter what Ballmer describes because the "changed" section of communications, the location one of the varied devices they expend common delivery to plunge out of sight via attrition, fancy a vestigial sixth toe. likewise during this phase, the lower back-ends and servers delivery to peer extra integration, employing a product Zafirovski outlined referred to as the Unified Communications built-in branch. feel of this as an exchange-embedded PBX alternative, supplied by using Nortel.

"for a lot of, a long time, both organizations gain truly been in the business of communications. Nortel, quite absolutely, has been generally in the 'telecom enterprise,' because it's familiar," defined Ballmer, making Little "quote-unquotes" in the air, "and Microsoft has been within the business of assisting people writer, transmit, email, and other assistance, and in a way, it became inevitable - americans gain observed it for years - that you'd beginning to peer a convergence of communications."

Microsoft and Nortel existing Alliance Roadmap | existent Questions and Pass4sure dumps


Microsoft and Nortel existing Alliance Roadmap Six months after announcing a telecommunications alliance, Microsoft and Nortel this week introduced some early outcomes of their efforts and outlined a roadmap for future projects.

the two groups first introduced their collaboration closing summer.

The street map comprises three original joint solutions “to dramatically enrich enterprise communications by artery of breaking down the limitations between voice, electronic mail, fleet messaging, multimedia conferencing and other sorts of verbal exchange,” in accordance with a press release through both enterprises.

additionally included in the announcement are 11 original implementation features from Nortel and the hollow of greater than 20 joint demonstration centers the location purchasers can adventure the technology, the commentary persisted.

moreover, both companies pointed out they gain signed agreements with dozens of purchasers, and gain developed a “pipeline of lots of of prospects who wish to realize the benefits of unified communications.”

From Microsoft's perspective, it is All section of the company's lengthy-time era play to merge All kinds of communications and messaging right into a solitary framework. A yr in the past, the enterprise announced that it changed into merging its trade Server community with its actual-Time Collaboration (RTC) neighborhood, and that it had begun to believe of both applied sciences comprising a "platform."

the original community turned into named the Unified Communications community (UCG) and resides in Microsoft's company Division. The strategy for the original group emanated from a imaginative and prescient of adding continuity to a myriad of communications devices, applied sciences and modes -- from e-mail and instant messaging to Voice over information superhighway Protocol (VoIP), audio/video and net conferencing -- in a unified method.

The three original joint solutions introduced by the alliance this week are named Unified Communications integrated department, Unified Messaging, and Conferencing.

When it is purchasable within the fourth quarter, UC built-in department will contain Nortel and Microsoft know-how on a solitary piece of hardware that gives you VoIP and unified communications in far off workplaces.

Coming a Little bit past within the 2d quarter, Unified Messaging will goal to simplify consumer deployments, aboriginal session initiation protocol (SIP) interoperability between the Nortel verbal exchange Server a thousand and Microsoft exchange Server 2007. The solution includes Nortel skilled functions for design, deployment and guide.

also coming in the fourth quarter, Conferencing will prolong Nortel Multimedia Conferencing to Microsoft office Communicator 2007. It goals to deliver a solitary client event constant across purposes akin to voice, instant messaging, presence, and audio- and videoconferencing.

This year, the companies likewise scheme to extend their latest unified communications solution — a unified computing device and smooth phone for VoIP, e-mail, quick messaging and presence — to the Nortel communique Server 2100, a service-grade commercial enterprise telephony product assisting as much as 200,000 clients on a solitary system, in line with company statements.

As for the highway map, both organizations gain equipped greater than 20 joint demonstration facilities in North the us, Europe and Asia, with more than a hundred further centers scheduled to open by means of midyear.

Nortel has likewise introduced eleven core integration functions to assist valued clientele build, deploy and aid joint unified communications solutions, together with conclusion-to-end venture administration. Nortel claims it has already skillful more than 2,200 VoIP consultants to deliver these features and should add greater as deployment ramps up.

concerning the writer

Stuart J. Johnston has coated know-how, especially Microsoft, on the grounds that February 1988 for InfoWorld, Computerworld, assistance Week, and laptop World, as well as for enterprise Developer, XML & web services, and .web magazines.

920-330 Communication Server 1000 Rls.5.0 IP Networking Design

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920-330 exam Dumps Source : Communication Server 1000 Rls.5.0 IP Networking Design

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Communication Server 1000 Rls.5.0 IP Networking Design

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Asynchronous Communication — Methods and Strategies | existent questions and Pass4sure dumps

Asynchronous communication is a widely-used communication fashion between different processes and systems. In an asynchronous communication, the client sends a request to the server (which requires lengthy processing) and receives a delivery acknowledgment right away. Different from the synchronous communication, this response does not gain the required information, yet.

After the client receives the acknowledgment, it continues to Do its other tasks, assuming it will eventually subsist notified when the required information is ready on the server side.

The biggest profit of asynchronous communication is the increased performance. Since the client does not screen its valuable CPU cycles just for waiting, it can deliver more within the very timeframe. Increased decoupling between the client-server interaction will likewise lead to better scalability.

We note asynchronous communication patterns everywhere. Here are some examples:

  • A “Design and Assign” request is submitted to the Inventory Management Application, from the Order Management Application.
  • A “full dump” is requested from an Inventory Management Application.
  • Monitoring Application sends 1000 SMS’s to the service impacted customers via an SMS Gateway.
  • Examples can subsist multiplied, but the principle is the same: Notify the caller when the lengthy process is finished, and the information can subsist consumed.

    There are three methods to implement an asynchronous communication:

  • Asynchronous Callbacks
  • Using Pub-Sub messaging using a Message Broker (or MoM)
  • Polling for situation Changes
  • In this article, they will intricate these methods and some strategies that can execute them effective.

    Method 1: Asynchronous Callback

    In an asynchronous callback mechanism, following steps occur:

  • The client authenticates to the server.

  • The client calls the server operation. (Web service, RPC, Local fashion call, etc.)

  • The client likewise subscribes with its “callback endpoint address” to the server. (explained below)

  • The server acknowledges the receipt of the request synchronously.

  • Client waits for the reply from another pre-defined channel (A Servlet, PHP page, Local handle, etc.)

  • Server finishes the required work and notifies the client from the channel.

  • The client fetches the information and processes it.

  • Method 2: Broker-based Publish/Subscribe

    In this method, a “topic” is created to enable the Client-Server communication. The steps are similar to Asynchronous Callback, but here, the medium differs. The server never notifies the client directly. It does this through a buffer, which is the Broker.

  • The client authenticates to the server.

  • The client calls the server operation. (Web service, RPC, Local fashion call, etc.)

  • The client subscribes to the broker and starts listening to the topic from a different thread.

  • Server finishes the required work and publishes a message to the topic.

  • The client fetches the information and processes it.

  • Since they reckon on a different broker component that will Do the mediation between the systems, they should gain a solid understanding of the inner workings of that broker. Features fancy message durability, TTLs, and routings necessity to subsist elaborated thoroughly.

    Method 3: Polling

    Polling should subsist the least preferred fashion from the performance and scalability point of view as it puts extra strain on both client and server side. However, in some conditions, (especially when you gain no control over the legacy server application’s code or repository), you may subsist forced to implement it. Here are the typical steps of polling:

  • The client authenticates to the server.

  • The client calls the server operation. (Web service, RPC, Local fashion call, etc.)

  • Server acknowledges the receipt of the request synchronously. Server puts the request in its database or exposes its situation via an external service (such as web service)

  • Every X seconds, client polls the situation of the request by connecting to the repository or the exposed interface.

  • If request’s situation transitions to “ready”, the client fetches the information and processes it.

  • There are inevitable strategies you necessity to reckon while designing asynchronous communication architectures.

    Key Strategy

    The participants should subsist able to uniquely identify each request. That is to say, if the client asks the server to dump its database to an FTP server, the server should recrudesce its acknowledgment with a key that identifies this individual request.

    The client can, then, wait for this particular key in its listening channel and correlate the incoming notification to the original request. Ideally, this key should subsist generated by the server. However, in some situations (cloud trailing requirement or legacy application involvement), the client provides a unique key attached to the request. It is then the server’s responsibility to respond back with the very key when the callback time comes. The drawback to this second approach is key collisions. If a sever client likewise provides the very key at the very time, the server will necessity to reject the request.

    Broker-based Publish/Subscribe fashion normally uses one shared topic for All clients. Key Strategy becomes extremely principal especially when this fashion is chosen.

    Retry Strategy

    Imagine you are implementing the callback approach with an external URL. The remote client has passed the request, got its acknowledgment and waiting for the callback event to subsist delivered. What if the clients’ endpoint is not available at that moment due to some reason? (Network outage, rebooting due to patch deployment, etc.)

    If the server simply ignores this callback, when the client comes back up, it will never receive the callback. Therefore the request will never subsist fulfilled; client resources would subsist unnecessarily consumed.

    To avoid this situation, Server should implement retries. It should retry the callback multiple times, waiting for fixed/increasing intervals in between. If the remote section never comes alive, then the callback message can subsist set in a repository that can subsist “re-played” manually by the advocate personnel.

    With the broker approach, retry strategy can subsist even more challenging. There is a dim side of the publish/subscribe model. When you publish a message, it will subsist delivered to All of the subscribers. If the subscriber is not listening at that moment though, the message is lost! There are some workarounds to avoid this situation, such as durable application server topics, attached queues, or some tools fancy Apache Kafka. gladden note that these workarounds can forward with increased costs of maintainability, so feasibility studies should subsist performed before the rollout.

    Subscription Strategy

    Asynchronous Callback fashion requires a subscription strategy. The client should provide the server its address. For webhooks, this is a URL hosted on the client’s web server. For other cases, it could even subsist a hostname and port number.

    Rather than putting client URLs to a central database before the integration starts, they should implement a dynamic endpoint subscription methodology. The modern artery to Do this is to provide a Restful web service endpoint which accepts a request id, URL, and a key. “request id,” comes from the initial synchronous request they made, which will subsist used as the correlation key. “URL” is the client’s callback address. “key” is the password that should subsist passed to the client along with the URL callback.

    Before the callback happens, the server can learn up a “request id” from a lookup table (fed previously by a subscription) and find out the endpoint address to call. If this is a one-off request/response pair, the lookup row can subsist deleted from the repository on the spot.

    Payload Strategy

    Generated response on the server side can depict any information. It can subsist a ten digit number or a ten terabyte file. Payload strategies depict how this information is passed to the client side.The payload can subsist directly passed inside the asynchronous notification itself. If the size is expressed in kilobytes, they can pass the information along to the callback. If this is not the case, the pointer to the file should subsist passed in the notification. If the information is captured in a, say, ten terabyte file, a file name, and an FTP server IP address can subsist passed within the notification. It would subsist then the client’s responsibility to travel ahead and fetch that file.

    Designing asynchronous systems require heedful design. The first question they necessity to put a question to ourselves is “Will it subsist more feasible to Do this synchronously?”. If the non-functional requirements allow, they should stick to the synchronous artery of doing things. If you discontinuance up deciding the asynchronous path though, methodologies and strategies that are mentioned in this article can execute your journey smoother.


    performance ,asynchronous communication ,asynchronous ,asynchronous programming ,asynchronous methods

    Sonus Delivers Enhanced Investment Protection for Microsoft® Lync® Enterprise Voice and Real-Time Communications | existent questions and Pass4sure dumps

    WESTFORD, Mass.--(BUSINESS WIRE)--Sonus Networks, Inc. (Nasdaq: SONS), a global leader in SIP communications, today introduced original software and hardware enhancements to the Sonus SBC 1000 and SBC 2000 Session rim Controllers (SBCs) which provide customers greater investment protection by enabling increased session and port capacity in a quick, simple manner. With the continued rapid growth of original real-time communications applications such as Microsoft Lync Enterprise Voice, there is a corresponding claim for more session throughput in customer deployments. Today’s announcement simplifies how enterprises – and the resellers who advocate them – can scale session capacity to meet the needs of Voice over Internet Protocol (VoIP), video and other latency-sensitive collaboration tools associated with Unified Communications (UC) deployments.

    With the introduction of Release 3.2, increased session and port capacity on the SBC 1000 and SBC 2000 can now subsist activated remotely with a license key, removing the necessity for technician-assisted installation of additional hardware. The elastic architecture of the SBC 1000 and SBC 2000 allows service providers, resellers and enterprises to quickly add capacity without the inconvenience of service disruption. Sonus is the only brand to proffer such ease-of-use capability in a fork office SBC portfolio.

    As workplace communications increasingly catch location outside of formal office locations, Session Initiation Protocol (SIP)-based communications gain become foundational as companies strive to deliver the very capabilities regardless of where an employee works. SBCs serve a captious role in securing and enabling disparate technologies across service provider and enterprise networks to work together seamlessly so that Microsoft Lync and similar collaboration platforms can deliver real-time communications such as VoIP, video, presence, unified messaging, find me/follow me, virtual whiteboarding and document sharing. By integrating Sonus SBCs into real-time communications deployments, these powerful network devices protect, secure, simplify and standardize what otherwise would subsist very complex SIP-based multimedia communications.

    By helping customers future-proof their networks without over- or under-subscribing to session or port capacity at the time of deployment, the original configurations of the SBC 1000 and SBC 2000 address today’s dynamic business environments. Customers can purchase the capacity they necessity today with self-possession that increased session and port signify can subsist added in minutes, instead of hours or days, through the expend of a software license key. The expanded control over network growth empowers service providers and enterprises to simplify network design, reduce costs and more effectively deploy advanced real-time communications features.

    The Sonus SBC 1000 and SBC 2000 are integrated into the Sonus factor Management System (EMS), delivering one common network management solution across the complete Sonus SBC product portfolio. This release amplifies EMS functionality on the SBC 1000 and SBC 2000 with advocate for network-wide provisioning, scheduled backup/restore and scheduled updates to advocate customers reduce operating costs, optimize investments and maximize network performance.

    Quotes:“Customers pick The Via Group based on their aptitude to advocate them deploy and leverage technology in a artery that makes their business more productive. It is raining Lync upon us right now, so anything they can Do that quickly scales their back-end operational efficiency and enables The Via Group to spend more time focused on adding value to a customer’s suffer versus simply managing technology is highly beneficial,” said Michael Cassady, director of operations, The Via Group. “The aptitude to remotely expand session and port capacity with the Sonus SBC 1000 and SBC 2000 makes these products a foundational factor to real-time communications and large-scale, multi-site customer deployments.”

    “The days of reconfiguring SBCs with a truck-roll to accommodate growth of session or port capacity are a headache of the past. With the SBC 1000 and SBC 2000, increasing session or port capacity is as simple as downloading a license key,” said David Tipping, vice president and common manager, SBC Business, Sonus. “With Release 3.2 of the SBC 1000 and SBC 2000, service providers and resellers can meet customer claim more rapidly, remove unneeded operational friction, and ensure investment protection on behalf of their customers.”

    Other Facts:

  • As a Microsoft Gold Communications Partner, the Sonus SBC portfolio spans from the fork to the network core. It is the only brand offering enterprises and service providers a complete end-to-end, Lync-qualified solution.
  • For consecutive years, Sonus has been positioned in the Leaders quadrant of the “Magic Quadrant for Session rim Controllers,” published October 21, 2013 by Gartner, Inc.
  • Sonus SBC solutions are Miercom Performance Verified and are deployed in many of the world’s mission-critical networks spanning finance, oil and gas, manufacturing, transportation, education, retail, healthcare and pharmaceutical markets.
  • Additional Resources:

  • Click here to download electronic copies of Sonus’ industry-leading reference guides: Lync Enterprise Voice for Dummies, SIP Trunking for Dummies, Session rim Controllers for Dummies and WebRTC for Dummies.
  • Click here to learn how Sonus realized productivity gains and significant recrudesce on investment (ROI) from its own Lync Enterprise Voice deployment.
  • View complete information about the Sonus SBC portfolio at
  • Tags/Keywords:Sonus Networks, SONS, Lync, real-time communications, Session rim Controllers, SBC, UC

    About Sonus Networks:Sonus helps the world's leading communications service providers and enterprises embrace the next generation of SIP-based solutions including VoIP, video and Unified Communications through secure, dependable and scalable IP networks. With customers around the globe and 15 years of suffer transforming networks to IP, Sonus has enabled service providers and enterprises to capture and retain users and generate significant ROI. Sonus products comprise session rim controllers, policy/routing servers, subscriber feature servers and media and signaling gateways. Sonus products are supported by a global services team with suffer in design, deployment and maintenance of some of the world's largest and most complex IP networks. For more information, visit or call 1-855-GO-SONUS.

    Important Information Regarding Forward-Looking Statements:The information in this release may contain inevitable forward-looking statements within the import of the U.S. Private Securities Litigation Reform Act of 1995 regarding future events that involve risks and uncertainties. Although Sonus believes that its expectations are based on reasonable assumptions, readers are cautioned that these forward-looking statements are only predictions and are theme to inherent uncertainties, risks and changes in circumstances that are difficult to predict. All statements other than statements of historical facts contained in this report are forward-looking statements. Their actual results may disagree materially from those contemplated by the forward-looking statements. For further information regarding risks and uncertainties associated with Sonus' business, gladden mention to the "Management's Discussion and Analysis of pecuniary Condition and Results of Operations" and "Risk Factors" sections of Sonus' filings with the Securities and Exchange Commission. Any forward-looking statements depict Sonus' views only as of the date on which such statement is made, and should not subsist relied upon as representing Sonus' views as of any subsequent date. While Sonus may elect to update forward-looking statements at some point, Sonus specifically disclaims any obligation to Do so, except as required by law.

    Marvell Technology Group Ltd. (MRVL) CEO Matt Murphy Hosts Investor Day Conference (Transcript) | existent questions and Pass4sure dumps

    Marvell Technology Group Ltd. (NASDAQ:MRVL) Investor Day Conference October 16, 2018 9:00 AM ET


    Ashish Saran - VP, IR

    Matt Murphy - President and CEO

    Dan Christman - EVP of Storage Group

    Raghib Hussain - EVP and Chief Strategy Officer

    Tom Lagatta - EVP of Worldwide Sales and Marketing

    Jean Hu - CFO


    Ross Seymore - Deutsche Bank

    Blayne Curtis - Barclays Capital

    Karl Ackerman - Cowen & Company

    John Pitzer - Credit Suisse

    Vivek Arya - Bank of America Merrill Lynch

    Quinn Bolton - Needham & Company

    Ashish Saran

    Good morning, folks, and welcome to Marvell's 2018 Investor Day. For those who don't know me, my appellation is Ashish Saran; I'm the Vice President of Investor Relations at Marvell. I've been in the semi industry for over 20 years, which should execute you question my sanity, but putting that aside, as some of you know, I recently joined Marvell. I was attracted by the very significant growth opportunities I note in front of this company, especially with the addition of Cavium. I'm likewise very pleased to note a lot of chummy faces in the audience, so thank you everyone for taking time out of your industrious schedules and spending today morning with the Marvell team.

    As you can see, they gain a very informative day in front of us, so Matt is going to kick things off with an update on their strategic shift to infrastructure. Dan and Raghib are going to walk you through the nuts and bolts of their storage and networking businesses. Tom will entertain you with an update on their go-to-market strategy to drive growth. And as anyone who knows Tom can attest, "Entertain" is the right word to expend in describing Tom's style. Jean will deliver the money slides, followed by a mp;A session which will discontinuance the event.

    Now, before they start, I Do necessity to catch you through their very exciting pecuniary safety briefing. This presentation today will contain inevitable forward-looking statements which Do gain risks and uncertainties. They report these in their filings with the SEC. They will likewise subsist mentioning inevitable non-GAAP pecuniary measures, a reconciliation is at the discontinuance of this presentation, and this presentation will subsist available on their Web site after today's event.

    Now that All of you gain your seatbelts tightly fastened, we're going to kick things off with a short video, followed by Matt's presentation. Thank you.


    The world today, it's more demanding than ever because it's more connected than ever. Manufacturers are more autonomous because they're more automated. Smart cities provide vital services thanks to tracking data and voice technology. A solitary car can learn how to drive safely, then share it with 10 million others. And soon, highly knowing 5G ground stations will connect to billions of users at breakneck speed. These emerging applications are powered by learning machines, where information is sent to the core for analysis, then back to the edge, flooding the global network with more traffic than rush hour in the rain.

    To withhold it flowing, the datacenter needs to withhold morphing, so much so that you can't expose where the core ends and the edge begins. The solution rests in the foundational technology here today. They understand; they helped build it. With decades of experience, the combined portfolios of Marvell and Cavium gain broadened their capabilities, made their core strengths even stronger, and transformed us into an infrastructure powerhouse. We've created seamless bandwidth connections between the core datacenter and the network edge, felicitous entire computing systems on to a solitary microchip, increased storage density so companies can meet tomorrow's demands, not subsist surprised by them, and discovered ways to withhold data flowing swiftly and securely, through cables or through the air. The original Marvell has its sights on tomorrow, not just to unearth what's next, but to execute it available today.

    Marvell, they believe ahead, so their customers can too.


    Matt Murphy

    Okay. suited morning, everybody. It's grand to note All of you here. So I think, first of all, this video says a lot about what's going on today. The situation of technology and it's mind-blowing how much data is being created on a daily basis in the world. If you believe about it, most of this data today is being moved into the cloud, but more and more the data is actually being created at the edge where it needs to subsist processed and actioned. And Marvell is enabling the infrastructure that makes All of this possible. So today I'm going to talk about the kind of company that we're creating, how far we've come, where we're going, and how we're doing since we've combined with Cavium. And I'm going to expose you how we're going to grow, which I'm certain is on everybody's minds here today.

    So first, let me betray you how far we've forward from their final investor day, which was just six quarters ago, here in this room. So let me catch you back, this was in March, 2017. For those of you that were here at the time, it was snowing outside. And this was their first ever investor day for the company. I had been on the job for about eight months, and they were just beginning Marvell's turnaround. We'd assembled a original leadership team which they introduced everybody, and they told their story. And that tale started with the market opportunity, which was really fueled by the explosion of data and the necessity for bandwidth. They said they were shifting from consumer and mobile to cloud and infrastructure, with the depth of their IP and core capabilities really played to their strengths, and where they felt they could create the most value.

    We likewise shared their plans at that time how they were going to refocus the company to build a long-term sustainable business that could deliver sound margins, cash flow; All the things that you expect from a top-tier semiconductor company. And I believe at that time they caught some of you off guard with their transparency. I recall during the mp;A, I believe it was Chris Roland, who I believe is in the play here, who said, "I'm silent trying to design out what company this is. I note the logo behind you, it says Marvell, so I guess I will just travel with that." So they did set some very lofty expectation for ourselves in that meeting. And I'm contented to report that the team has done a grand job on delivering on their commitments.

    So let's start with revenue growth, the chart -- every chart here starts with Q1 '18, which was the quarter after they had their analyst day. You can note that revenue since that time has been up into the right. They likewise said at that time that they would achieve grievous margins exceeding 60% exiting their fiscal '20. Really pleased that subsequent to the analyst day they managed to enlarge their grievous margins every quarter. In the final reported quarter they had in Q2, they reached 63.5%, which was an all-time record for Marvell. And finally, they had committed to deliver 30% operating margins existing fiscal '20. And again in Q2, the final one they reported as a standalone company, they likewise exceeded 30% OM, which was about six quarters ahead of schedule.

    So these were grand results. We're very proud of them. But they did not befall by accident. So let me talk now about how they hurry their business. So we've really established a very results-oriented culture inside the company. It's really based on data-driven decision-making and it reflects my core beliefs and values as a leader. They start by first aligning to the right markets. They are focused on fewer things, but we're focused on doing those fewer things very well. They actually hold a portfolio review of All of their businesses in the combined company. We've done three of these now since I've joined. The final one, more recently, was with Cavium. And so we've gone through now every business in the combined company.

    We understand where every R&D dollar is being spent; they understand the competitive dynamics of those businesses, the IRRs, the grievous margins, the growth potential, the competitive landscape. And we've now built P&Ls and three-year plans for each of those businesses. So we've actually integrated Cavium in quite quickly into their planning process. We're likewise not fearful to desist projects or redirect resources or reallocate their precious R&D dollars where they gain to. We're very disciplined in this front. They likewise believe that time-to-market is a differentiator in their industry. So, their customers, they scheme their schedules around their materiel around their schedules. They're All one and the same. And so we've completely retooled inside the company how they scheme their projects, their engineering projects, how they execute them, how they track them, and how they bring them to production.

    So we've installed world-class program management, and most importantly, a culture of accountability inside the company. And their customers are seeing the difference. They likewise believe in a very data-driven approach to business management. And they expend data to hurry All aspects of their business, whether that's pricing, forecasting, claim planning, or measuring customer satisfaction. And we're making better decisions because of it, and we're already seeing the results. So this has been a very programmatic, solicitous effort. And they note the profit of this kind of approach on the original Cavium team coming in.

    Part of the turnaround likewise in the company though has been cultural. And over the past two years we've really brought the entire company along with us. Through frequent and transparent communications we've really strengthened the culture inside the company. And it starts with articulating their core behaviors and what they value and stand for. And these behaviors, by the way, they're not just coffee mug slogans and posters they stick on the wall; these are very personal to me. And it really reflects how they hurry the company. Integrity, respect, innovation, execution, supporting each other, these are All very powerful words that resonate very well with their employees and their customers, by the way.

    And we've now received numerous supplier awards in the final two years. And recently they made the Forbes Best Employers list in 2018. So they believe culture is a competitive advantage. The employees note the sizable picture, they understand their role, they'll buy in and they'll fully consign when they buy into your culture. And so this photo, by the way, is a photo of the combined Marvell and Cavium management team. It was taken shortly before they closed the merger. They All took time to come by offsite and come by to know each other and align on their goals. And by the discontinuance of that offsite, you couldn't expose who was a Cavium leader and who was a Marvell leader; we've All become one team. And I would note that in this picture about 30% of the people, or almost one-third of the vice presidents in the company combined, are actually from Cavium.

    So they truly merged the companies, versus just acquiring and taking the products. And I couldn't subsist more proud to sprint forward with such a talented team that we've assembled. And they set their mission to subsist the leading semiconductor company serving the infrastructure market. One that developed solutions that move, store, process, and secure the world's data faster and more reliably than anyone else. They believe it's principal to gain a mission that is easy to understand. Everyone can come by behind it whether it's an employee, whether it's one of their customers, or everybody in the room.

    So let's catch a moment to talk about why they fancy infrastructure; why is this a suited market to subsist in? I believe it's an attractive long-term market where their IP can deliver existent value, and so let me contrast market. So there's the consumer market, is exciting. great TAM, you can talk about it with your friends at a party, it's easy to understand. But I'm telling you, as fleet as success comes in this market as fleet as it can travel away. And this is not just an academic observation I'm making, I've lived this. I've been in this world. I've lived through the notebook cycle, the digital camera cycle, the smartphone cycle, the smart TV cycle. This is a brutal business to subsist in. And they are fortunate at Marvell to gain the extravagance to participate in the infrastructure market. This is one where they don't just gain to re-win designs every year to breakeven and stay on the treadmill. The design cycles and infrastructure are typically three to five years. So there is a long cycle of evolution and partnership with your customers. You don't necessity to start over every year. And those wins that you get, you actually layer on top of each other. So they compound over time.

    These platforms are typically in the province for 10 years or more. So, when customers learn at who they are going to confederate with and design in, there's really only a handful select group of players that really gain All the capabilities that they are looking for. So infrastructure is a much more predictable stable market. And that benefits everybody. It benefits their customers, their shareholders, and their employees who can focus on the long term as they develop their products. likewise the company's DNA is very well aligned to the infrastructure market. They gain a stalwart combination of IP and engineering capabilities in the company. They gain a 20-year track record in Ethernet, both in switches and in PHYs. They gain abysmal suffer with processor cores. And they gain in-house IP evolution such as SerDes and others that they control their own destiny on.

    Finally with Cavium, they bring in a very compelling software, full platform that they can leverage across multiple product lines and really add a lot more value and stickiness to their customers. And finally, they gain managed to assemble on this combine company really what I can stutter is the world's most talented team of merge signal engineers and digital engineers designing SOCs. These chips are not easy to make. There's only a few companies that possess this kind of capability. And we've been a top innovator in their field. They gain been named for the final six years as one of the top innovators in the world by Thomson Reuters and now Clarivate. And today, the company has amassed over 10,000 patents, which is very formidable and is just another case of the kind of capability that they have. So on their final Investor Day they said they were pivoting the infrastructure and that it would subsist a journey. A few years back, they were about 25% of the company's revenue with an infrastructure of 75% was in things fancy consumer and mobile.

    At the final Analyst Day, they were at about one-third of their revenue was levered infrastructure. And they said their goal was to come by it to 50% in the near-term. And so, they were able to Do that actually a Little bit ahead of schedule through All the work that they set in. And so, classic Marvell as of today is about half-half, fifty percent infrastructure, 50% non-infrastructure. So that was progress. They were there probably a year or so ahead of where they thought. Cavium really represented the next step in their progress here. And so when you combine Cavium in, the combine company today is now about two-thirds of their revenue is levered to these types of discontinuance markets. And that's only going to increase. And they note over time that this number is probably going to subsist much higher and next goal is sort of three quarters, and to withhold going from there.

    And the combination, it really accelerates their progress in infrastructure. So from Cavium really what they got was a nibble start-up mentality. You are going to hear from one of the co-founders of the company, Raghib Hussain later today. He is going to talk about their networking business and the opportunities there. They got very valuable technologies from Cavium, leadership now in processors, leadership in security, leadership in accelerators. And so, they likewise brought a very stalwart presence in datacenter and carrier which they had been trying to build. When you combine that with Marvell energy and enterprise, their end-to-end product evolution capabilities and the operational excellence of the company, it creates a very unique value prop for their customers. They really are getting behind this combined company strategy. And in fact, I would stutter from the customer point of view, the level of appointment that we've seen since they closed the transaction has been significantly higher than before either company had ever experienced. I subsist substantive quite frankly spend a lot of time on the road. I gain personally met with the chief determination makers and CEOs and CxOs of the top infrastructure companies in the world across All of their segments.

    I gain been industrious and I'll just give you one case of a story. Three weeks ago, Raghib and I were - had the casual to present to the entire leadership team of one of the top leading infrastructure OEMs in the world. And the meeting was really to debate a pretty significant multi-year agreement to Do multiple chips for this particular company and this would subsist a relatively a original relationship or certainly an expanded one. And so after that meeting when they did the debrief, I asked the Cavium VP/GM who is now running that business for us, I said, Look, I just got to ask, you guys gain gotten to this point on your own as a standalone company? And he said, "Well, Do you want me to give you the politically amend answer, or the existent answer?"

    So just give me the existent answer. And he said, "Absolutely not. There's just no way. They are viewed as being as too small, not having enough scale and not having All the capabilities." And so that opening now is one of many and you'll some more stories fancy this today of the power of this combination how that's really translating into significant original opportunities because they are seen in a much different light now by their customers. And why Do they like? I subsist substantive what Do they note when they learn at the Marvell portfolio that's combined, what they note is a leader, a leader in key technologies, in storage, networking, security, processors, connectivity. These are All the key elemental pile blocks of what infrastructure companies are looking for. And it's not even that they gain a Little piece section here or there or a piece of IP.

    We actually gain leadership positions from a technology perspective in each of these areas. And you are going to hear today from my team on not only where their leadership lies but what their strategy is to grow their position and continue to become a very compelling option for their customers. The combination likewise with Cavium really creates a much more diverse company, which I believe was one value that they saw in doing this combination. The first of which is from a customer point of view and I won't pilfer Tom's thunder, which you are going to hear more from him about the original customers that they gain added and how actually while there is some overlap, there's a lot of incremental customers that they gain that Cavium didn't gain and vice versa. They likewise now are a much stronger and a broader array of discontinuance markets.

    As I mentioned, they really come by a much stronger presence from Cavium now in datacenter and in carrier. But the breath of the business has likewise increased too. And if I travel back to when I joined the company, I subsist substantive probably the solitary biggest overhang that we've had and even continues to this day in some ways was the company's overall exposure to the HDD market. Classic Marvell if you travel back two or three years highly levered to HDD. That really created a cloud over the company in some respects. It always was a source of concern for investors. So look, we've taken a lot of ail on their own, right, to diversify their business. And you'll hear Dan talk about this more. With the combination of Cavium plus their own efforts to diversify within their storage segment, they gain now gotten their exposure today of HDD controllers that sell into notebooks which is really the heart of the concern.

    The exposure now we've got down to about 7% of company total. That's as of today and they expect that that number is going to subside as they head into the next year and the year after as they grow their business and continue their pivot from consumer computing to cloud and infrastructure. I don't believe that this ail that they set in has been widely understood by investors. So I wanted to execute certain I called this out because I believe that depict tremendous progress from where they were from a diversification standpoint.

    Okay, so now let me talk about the portfolio and what are the elements of it. So, what's spirited is their businesses are quite diverse now. So, first, they gain established businesses in their company. This is really how they hurry their company and how they segment their businesses with inside their portfolio. So the first is they gain established foundational businesses. These are businesses where they are the leader today. Two examples of these would subsist fiber channel adaptors which they got from Cavium as well as their HDD business. These businesses are strong. They are stable. They are profitable. They invest and manage them to maximize their leadership and their profitability.

    So that's the ground layer. Then they gain a number of growth businesses where either they are the leader or they are a very stalwart challenger. And examples of these comprise embedded processors, switches and PHYs, flash-based storage, SSD, and lofty performance Wi-Fi. Now these products are All in growing markets where they gain something that's differentiated and unique. They invest in these businesses significantly to grow them above the market and every one of them has a goal to subsist the market leader in their respective segment.

    And then, finally, they likewise gain several areas of strategic investment. These are original bets that they are making. And these comprise automotive -- you are not going to hear about these today, these comprise automotive Ethernet, these comprise security solutions for the cloud, which they call Liquid Security, which is a technology they got from Cavium, and likewise this includes their server processor investment based on ARM. So these businesses typically they leverage IP they gain already got inside the company, but they leverage them into adjacent markets, so they come by a lot of reuse and profit from that point of view. Every one of these has a lead customer or customers; that's their teaching customer, that's their sponsor, that's pulling us through to execute certain that they define the product correctly. They invest in these businesses carefully. They track them. They milestone them, and they execute certain that they are resourced properly to win. And so, when you step back, and you learn at the portfolio of businesses they gain inside the company, it's quite broad and it's quite diversified from an investment profile, and they believe the combination of All these will result in profitable long-term growth with potential upside on the original bets.

    So, another principal consideration for the combination was scale, and I believe more and more today, you are not hearing this from Marvell, but you are hearing this from others that for digital semiconductor companies, scale today is incredibly important. It's no underhand that the cost of developing these advanced node technologies is going up fairly dramatically as companies sprint to more and more advanced process nodes, and obviously you are doing it to enlarge performance, lower power, optimize dye sizes, All kinds of benefits of making these node jumps, but they are getting more and more daunting by the day. I believe this is a reality facing pretty much every company if you going to subsist in advanced node where 16 nanometer, 12 nanometer, seven or below, it's a different world than before. And so, from their point of view, they believe that you probably necessity to develop about half a dozen chips or so at a minimum in a key process technology, just to gain spread the investment appropriately across All those devices. And so, if you don't gain enough scale, if you don't gain enough of a broad product line and you can't Do a significant number of original products on a node, to come by your money back is going to subsist very, very difficult. So, this is putting pressure on a lot of companies, putting pressure on companies to scale up, it's actually putting pressure on their customers as well. Let me talk about that.

    So, traditionally, their customers gain really had kind of two choices when they - sizable systems companies, right, sizable infrastructure companies, when they settle to -- that they necessity a key semiconductor component. One is they either want to buildup themselves, what they call the full ASIC model, or you travel off the shelf and you buy merchant silicon, and typically this is where Marvell has been more in the merchant silicon side with limited on the build side. So build has made sense before, but it's getting to subsist increasingly challenging especially if you are a systems company, they are seeing now some of their customers having to staff teams literally in the thousands of people to execute this work, and obviously it's difficult to Do that many ICs if you are a solitary OEM. And so, that's a challenge for these companies today.

    So they note a third business model actually gaining favor. This is a model that Marvell has had for sometime, but they note it applying not just in their storage business where it's traditionally set, but likewise across actually other discontinuance markets. And this confederate model is -- let me intricate a Little bit more, is really the value proposition, look, everything in the gray that you note is IP that they are already developing today to spread across All the chips that they do, whether it's the CPU core, a remembrance controller, SerDes, All of these different blocks, they are developing these because they are going to expend them primarily across All of their products. If you are a system OEM, you are just doing one ASIC, you gain got to travel either develop All this yourself or license it, it's very expensive and costly and it's time-consuming. And so, this model really allows us to Do what's in the gray and then the customer to really focus on what differentiates them, which is the red. That's their block. And this model they set in location in their storage business both in the HDD side and in enterprise SSD, it's been a location for about 15 years, it's been highly successful, because the customers are able to leverage and profit from All the work that they are doing, that's common across the entire company. And so, the profit to the customer is obviously they come by proven battle-tested IP that's been in the market, to come by the profit of their agreements with their suppliers, their cost structure with TSMC, the tools etcetera. So they can create their own unique thing, but they don't gain to Do the entire product. So it's really a win-win for both companies. And they note this is being a very compelling model especially as they gain combined.

    Okay, so let me sprint to the second section of my talk today. So, probably I'm saying, "Okay, this is great, looks nice, it looks fancy you are pile a nice company here. Everything sounds exciting. How are you going to grow?" I believe that's the question that's on everybody's intelligence today, "How are you going to grow?" So, Dan and Raghib are going to travel into the details, but let me give you my perspective. So the first is that the market forces that are out there are creating opportunities for us. There is a stalwart discontinuance market tailwind. The first thing, they can travel back to the final Analyst Day, is that there is an explosion of data that's being created and that likewise needs to subsist stored, and there are zettabytes of data being created every year. It's doubling about every two years. This creates huge demands on the storage and network infrastructure.

    The second is that the data that's being created at the edge more and more needs to come by processed, secured, and analyzed at the edge. And a lot of these applications now, they Do profit from real-time decision-making where the data is occurring. And so, more and more they note this tow of the compute actually being pulled towards where the data is created. And so, that's a profit to us. And Raghib will talk about that more.

    The third is that in this more distributed world, you can't just secure the endpoints; you actually gain to gain a holistic security strategy to secure the entire data chain. And again, this is one where I believe they can provide significant expertise here to provide robust security All the artery from the datacenter, All the artery to the edge through every point in the network. And finally, All of this has a major repercussion on overall power efficiency. It's probably one of the biggest occasions of operating infrastructure today is simply the power bill. And this really plays to their strengths. Marvell, one of the hallmarks of this company has been their engineering expertise in developing low power SoCs, leveraging advanced process nodes and unique architectures. And so, when you learn at All of these combines, there are multiple tailwinds that are in their favor. And so, with that at their back, they believe there are several very unique opportunities where they can execute an repercussion given that these market changes are happening, that are very specific to Marvell.

    The first is in storage. So, All this data, as I mentioned, it needs to subsist stored somewhere, whether it's on frigid storage, in the cloud on difficult disks, or it's Hot storage on advanced glitter remembrance technologies. And so, their customers are looking for ways that they could Do this more economically and they could Do it faster. And so, as the leader in storage technology, they are in the middle of All of these major storage disruptions happening, because they are the core, they are controller, they are the brains, if you will, of many of the storage systems, and so, they gain unique insight and aptitude to actually influence and repercussion All of these tremendous disruptions that are going on in the storage industry.

    The second is in networking. And they gain started seeing this final year, but there is a significant multi-year upgrade cycle that's occurring in the enterprise. And they spend a lot of time at Marvell refreshing their own portfolio and optimizing it for enterprise over the final few years. They bring in Cavium strength, especially in embedded processors and enterprise, and they gain a very, very formidable portfolio in the enterprise, and if you learn just at their own results in their second quarter, their year-over-year growth just in Marvell networking was double-digits, it was fancy 16% year-over-year. So, they are already seeing the profit of those original products kicking in and the upgrade cycle kicking in. And they believe that with the original combined portfolio, they gain continued play for growth in the enterprise.

    The third one is in the carrier market. And this may astound you, but Marvell is going to subsist one of the most principal companies to participate and enable the 5G rollout. Many of you were saying, "Marvell in 5G?" So you are going to hear more from Raghib on this today, but they gain very, very stalwart traction in this market, very unique solutions, and to subsist clear, they believe that 5G is going to subsist one of the largest, if not the largest growth driver for the combined company over the next several years. They are very excited about this one.

    And then finally, they gain emerging opportunities. These are some of their original bets that they believe provide stalwart potential for growth. The first one is in automotive. We've now gone to production with their automotive Ethernet products. You know, a year ago this wasn't even in their SAM, so we've made suited progress there. And likewise in July, they introduced and took to production the first Xeon-class Intel-competitive ARM server CPU that's ever been introduced. There's been a lot of talk about this market for years, a lot of press releases; a lot of companies gain tried. But there's actually no company that's been able to introduce and catch to production a CPU with this level of performance. And you're going to hear more on this from Raghib today.

    Also, in HyperScale, we've had several public announcements now for their Liquid Security. You'll hear more about that today. But that's going to subsist a growth driver for us as well that's emerging. And each of these products is off to a grand start. And I believe when you layer All these in, whether it's store, the enterprise trends 5G, and these emerging opportunities in datacenter and automotive, they're significant. So let's translate that into the dollar amount, what's the total market opportunity. So at the final investor day, this was for the standalone company, they said total market for Marvell was $8 billion. When they announced Cavium they said that the SAM for the combined company was going to double to about $16 billion.

    And now, we've got the team under one roof, we've been integrating, we've been looking at their opportunities, they went through their entire portfolio review, and I'd stutter the evolution has been -- they believe there's about another $2 billion of market that we're now participating in that primarily is driven, as we've sort of gotten their arms around everything. One is the incremental 5G opening they believe is pretty big. It's going to enlarge their SAM today. And likewise we've now, because we've made such progress and we're in production, we've moved the automotive Ethernet SAM that was not there before into their SAM. And so that's a today number, that's $18 billion, which is pretty significant given the size of their company today.

    So when you wreck the $18 billion down, $3.5 billion today is in storage. This is a business where we're the leader today; they gain almost half of this market. This is a stable business. It's profitable, it's growing modestly. But they gain stalwart share and a stalwart position, and opening to grow. After the combination with Cavium, networking now represents over $10 billion of SAM today. And this market is growing at 9% a year. They Do gain a stalwart position here as well, but they expect to gain share and grow faster than the market. Overall, these two markets combined, they're huge. This is $14 billion going to $17 billion just for the storage and the networking portion.

    Now, as I mentioned, we're likewise investing in ARM server, and they decided to wreck this out to subsist super lucid about where the drivers of their SAM are coming from. This is one where they note the addressable portion of the ARM server market today, at about $4 billion. That SAM they believe is growing very fast, by about 14% a year. And so when you add that opening on top, which again is original and emerging, total company SAM goes from about $18 billion to close to $24 billion over the next few years. So there's a significant opening if you learn at the evolution of where they were, stutter at final analyst day looking at an $8 billion opportunity, to now just a couple of years from now being able to address something fancy $24 billion of market. So you could note this market we're going after, it's healthy. It's large, it's growing, and we're very well positioned to capitalize on this opportunity.

    So let me close. So in summary, the first point is we're planning to grow the company. We're planning to grow the company to subsist a leader in the infrastructure market. They gain the scale, they gain a diversified business model, and that's one that's positioned to deliver long-term success. They continue to innovate and invest in the future, and this is going to enable us to allow their customers to disrupt their markets. One case is 5G that you'll hear about. I'm likewise especially proud that their team has consistently delivered and established a stalwart track record of execution that's going to subsist very principal as they head into their next facet of growth. And so look, in short, with the team we've got, markets that they are going after, stalwart customer pull; I strongly believe that Marvell is going to drive ourselves forward. Their goal is to create a grand company with grand technology to enable the infrastructure of the future.

    Thank you very much. Dan?

    Dan Christman

    All right. Thank you, Matt. All right, so I'll introduce myself first. I am Dan Christman. I am the Executive Vice President in Marvell, In-charge of Storage. Today, I am going to talk to you about their storage business. And they will talk about market dynamics, the opening in front of us as well as innovation and how they are targeting their investments. And most, importantly, I believe their pivot to datacenter, infrastructure and really as a solutions-based storage company.

    So, Marvell is the leader in storage and they actually gain significant share here. As Matt mentioned almost 50% of the market is a market share now for Marvell. We're investing in leadership which for their storage primarily means datacenter. They gain thought leadership. They gain a company that only has 20 years plus in storage can provide to the market that allows us to innovate, bring original architecture to the market, and solve their customer's toughest storage problems.

    We are targeting growth segments which are helping us expand their SAM in the storage space and they are providing higher value solutions in the future. So let's talk a Little bit about this. As you combine Marvell's classic storage business of HDDs and SSDs along with Cavium's now fiber channel business, you actually come by the largest and broadest portfolio of storage solutions in the industry.

    Fiber channel is over a $500 million in opening and Marvell is number one in fiber channel adapters. HDD solutions is $1.9 billion opportunity. Marvell is number one in HDD controllers. And they started shipping in lofty volume this year preamplifiers. Their glitter solutions business, which includes their SSD controllers, is a $1.1 billion opening today and it's growing fast.

    Marvell is number one in merchant SSD controllers. And now they are piteous beyond controllers. They are providing innovative original architectures and solutions. And they will talk about those in these slides. So as Matt mentioned, the storage market for Marvell is a $3.5 billion market today. It's growing at about 3% a year to $3.9 billion. Now if you wreck down a little, you will note the PC space is shrinking at about 5%. They note this is an locality that's harder to differentiate, is less innovation, is less necessity for original functions and features.

    But the Edge in other market which includes automotive, industrial, video surveillance, home gateways, gaming, direct attached storage, this is actually a very highly resilient and stable market. Talking about 1% growth over the next three years, but really the opening is no astound based on Matt's intro is datacenter. This market is growing at 9% a year. It's getting bigger.

    We recognized this early and they focused their R&D dollars into this market. So, let's learn at their revenue here. So if you learn at the classic Marvell storage revenue, which again was HDD and SSD, you can note a couple years ago almost half their revenue was coming from PCs. And you fast-forward it today and you'll note a much more balanced portfolio in the storage business for Marvell. But a couple of years out looking just at classic Marvell, you note the PC drops below quarter of their revenue while the Edge and other remains very stable across All three of these snapshots in time. The datacenter becomes very meaningful for Marvell. It actually becomes their largest segment in just a couple of years. When roll in the fiber channel business from Cavium and you note that Marvell has become a precise infrastructure storage powerhouse.

    PC is now down to 18% of their storage revenue and in a smaller percentage of the Marvell company revenue. So when they talk about fiber channel, today again it's a $500+ million opportunity. Marvell is the market share leader with stalwart incumbency. They are the preferred supplier for leading OEMs and Fortune 1000 companies, and due to the captious and the sensitive nature of the data that gets moved in security onto fiber channel infrastructure, they note this is a very stable market with longevity. And the fact is that Marvell is silent innovating here, right we're helping extend their leadership through areas such as in-line security and NVMe over fiber channel and this is what customers keeping about.

    Now, there is no surprise, I believe everyone here in this play understands that the HDD is going through a secular decline, right if you learn at units this is about a 10% a year unit decline in the market but due to the conducive mix, the addition of preamps, the higher capacity drives going into datacenter, the SAM itself they projected decline about 7% a year.

    Let's dig a Little deeper, you note that really PC is the market that's most impacted really driven by the replacement cycle of SSDs in the PCs replacing HDDs. If you learn in fact at both desktop and notebook both markets are declining in the mid-20s. But when your sprint PCs, you note the stable piece underneath which is actually relatively flat and if you dig in deeper, there you note really what Marvell's focused on which is a near line segment in difficult disk drives, these are the frigid storage drives in the datacenter where they manage sizable Data, if you catch a photo about a week later, it's probably on multiple frigid storage HDD drives and in the datacenter.

    In fact in calendar year 21 about 40% in the entire HDD market will subsist in the near line segment, this is where cost per gigabyte matters and without difficult disk drives in a datacenter they would not subsist able to store their data. Why Marvell is focused here is number one it's a growing market, that's pretty obvious but number two we're very well situated to win this space, right, where we've been in this industry for over 20 years. They are in 21th generation now of read channel development, we're a technology leader in All the principal aspects that execute these drives work.

    If you learn at the aerial density increases that really drive the capacity, you learn at original technologies, they talk about energy assist final time they hear, HAMR, MAMR, Dual Actuator, multi-actuator, these All catch investment, they catch a confederate that understands how to Do this and Marvell is number one in this space for a reason, they project that we're going to continue to grow in this space with the market and even beyond the market.

    I likewise talked about in the beginning the fact we're going to subsist more of a solutions provider, so an HDD that means preamplifiers. This is meaningful revenue in the future it's meaningful SAM for sure, this is a subset of the SAM I showed you on the previous glide not incremental but because Marvell has a stalwart position in the HDD controller space, we're getting extremely stalwart tow from their customers to work with them in the preamplifier space. They want partners who are actively investing with them in the HDD space and if you learn at the current wave, that's driving preamplifiers today, it's really about capacity increases due to adding platters in the drives.

    So to expand capacity, they add more and more platters in these drives today and when you add a platter, every platter is two channels of preamplifier. So as you travel from two to three to four to up to 10 platters per system, you travel from one or two preamplifier channels to up to 20. So that actually becomes very meaningful where the content for a pre-amplifier in an near line drive can almost equal the content for an HDD controller.

    Okay. So it's very, very meaningful. The next wave is really through technology innovation. Again as I talk about these acronyms HAMR and MAMR, these technologies that the customers are developing acquires Marvell that likewise develop original technologies, the controller in the preamplifier gain to communicate together to control these original technologies, you gain to control the energy elements within the system with the preamplifier.

    So these are original opportunities for Marvell, they add more value and come by more content in these original difficult drives and what I'm proud to stutter is that today Marvell is shipping preamplifiers into the market, we've qualified with their customers, their customers are shipping drives in the market with Marvell preamps and they expect this to subsist meaningful, meaningful revenue next year for Marvell.

    So the overall repercussion of the market dynamics I just described to you as well as strategic R&D investments really betray here the fact is that the notebook exposure is decreasing meaningfully in the HDD space for us, it'll subsist less than 15% in a couple of years.

    Our investment in datacenter is clearly paying off as you can note in this chart and they believe by diversifying their HDD revenue and by growing in preamps that they can partially offset this secular decline in the market and accomplish better than the overall market.

    So let's sprint on to glitter solutions. Now FMS which is a very eminent betray for the glitter industry, it's glitter remembrance Summit, it's held in Santa Clara every year, it was final held in August, it was really a coming out party for Marvell, this is their booth here in the show, they came out as a company, they said learn we're more than an SSD controller company. Right, they are a glitter solutions company, we're focused on effectively or more efficiently managing the glitter based storage systems, this evolutions been driven by their aptitude to leverage the broader Marvell IP to enable original contour factors for their customers, original business models and provide unique and innovative architectures at the platform level. This of course adds up for more content for Marvell and it grows their SAM.

    So let's talk about now the evolution of glitter storage, if you believe about it really started off as an HDD replacement, in the PC space people basically took a two and a half inch difficult drive out, they swapped in a two and a half inch SSD drive, very contour factor, very interfaces, they went on to original contour factors, they stutter learn they don't know necessarily gain to beholding to this HDD contour factor, they can optimize for their PC. So they set original contour factors in that were smaller and more space efficient, they did original interfaces fancy NVMe which took advantage of the actual glitter and optimize the performance and after PCs went through this, the datacenters went through the exact very cycle of replacement.

    But now they're looking for more, they're looking for original architectures, they're looking for original business models, they're looking for a platform based solutions. From a business model in an architectural standpoint, I want to talk about this Do it yourself model, they did talk about it Little bit final year but I want to talk more about it today, this is an opening that when you tremble off the limits of a difficult disk drive, the mechanical limits of the contour factor limits and you stutter learn I'm just focused on glitter memory, you really can now optimize, you can optimize for space and power, you can optimize for workloads, you can location the controller directly on your board or build an OEM and original contour factor. This is really enabled by the fact that the customers can buy a controller from a company fancy Marvell directly.

    They can source their NAND from multiple lofty quality Tier 1 NAND vendors and they can build custom firmware. They really optimize this solution for their needs. Now Marvell's uniquely positioned here because we're a merchant supplier. They gain stalwart and long lasting relationships with All of the Tier 1 NAND vendors. They All work together in strategic relationships as partners to develop these systems for their customers and then once we're on the board they can integrate additional functionality they note this is additional opening for Marvell, you can learn at the architecture can subsist changed. And this is basically more content and more value opening for Marvel in this space that this started in a datacenter but we've seen it sprint beyond a datacenter now in Marvell's one designs already here you'll start to note revenue over the next couple years here it's already a next year because it's kind of a paradigm shift for Marvell in the industry.

    So let's talk now about platforms and how Marvell helping disrupt them platforms let me decode this glide first for you, you note this gray box here is the SSD controllers. They ship those today; will continue to ship those in the future but this red box is original content for Marvell. I'm going to verse case here this is an aggregator. Now their customers are looking to add more and more capacity as they add more capacity and they travel beyond PC centric contour factors to datacenter centric contour factors. The limitations start to become the SSD controller. The controllers can only handle so many NAND behind them and when you try to add more and more of these together you discontinuance up either with limited capacity or limited performance.

    So Marvell's now introduce original aggregator, NVMe aggregator chips that basically even catch in seamlessly stitched together multiple controllers or multiple SSD drives and present them as a single, lofty capacity, lofty performance drive enabling original contour factors in a datacenter. In the second case you hear a lot about Microsoft Project anally, open channel it's really about more efficiently managing the glitter storage at a level above the drives which means are putting management kind of at the host. I know when you learn at doing that you stutter well Do I want to set that on my CPU and dissipate those cycles I could subsist renting out and the reply is always No.

    And I believe a Rag will talk about accelerators later but here they gain storage accelerators. And these accelerators basically will Do functions fancy compression, redundancy, security, IO virtualization and multi tenant systems and offload the CPU to advocate more efficiently manage the glitter storage, it allow that cloud datacenter customers to rent out those CPU cycles. The final case here is a revolutionary architecture that they actually announced to at glitter remembrance acme is an ether net bunch of glitter they call it the eve off.

    And this is an end-to-end chipset for Marvell that includes their controllers, it includes their NVMe converters and likewise pulls in content from their networking group on the Ethernet switch side, if you learn at traditional server based storage in a datacenter when you want to add more storage you gain to add more compute they travel together, right in the Eve off even essentially this aggregated these, are you able to scale up your glitter storage independently creating a lofty performance rack of flash. Now this is connected over the Ethernet so it looks fancy its local, if you learn at latency is in performance it appears to subsist local to the host.

    So when you want to add more drives and more capacity is simply add more drives into the rack, its scales linearly now they announced as I mentioned this that FMS has been very well received by their customers as an abominable lot of interest in this original architecture. So the opening in the glitter market for Marvell is huge right if you learn at their classic controller business this has a 17% CAGR. Their initial entry into here was in P.C. as I mentioned but we've pivoted towards a datacenter, in the datacenter customers value their performance their value reliability, they value advanced in original features and architectures. This original Sam on top here is actually growing faster than the overall controller business so they discontinuance up with a 19% total CAGER for a glitter solutions business.

    The gray box is incremental; it adds about 25% on top of their FI or calendar year 21 CAGR there or Sam. And they gain some business here already it's relatively minuscule but it's growing and going forward they talk about their SSD business will really start talking about their glitter solutions business with SSD as section of that business so you can note here how this All comes together. They recognize the opening in datacenter early. They aligned their R&D resources towards the datacenter. As they continue to execute on this pivot to subsist a provider of optimized solutions for the datacenter, you can note how this dramatically shifts their revenue profile.

    These segments are becoming more and more meaningful. They started about a third of their business. Now it's half of their business. A couple years from now it'll subsist three quarters of their business, so I'm going to summarize one more time for you. We're leading from a position of energy in All of their storage businesses. Their shift to datacenter is well underway. We're seeing the results you saw the results today in their revenue mix. We're working with their partners of to pioneer original and exciting innovative architectures to advocate them more efficiently store and manage their data.

    We've expanded from being a product solutions company to a more complete solution provider. And finally we're positioned for uniform growth. Thank you very much.

    Raghib Hussain

    Thanks, Dan. Guys, we're going to catch about a 15 minute break, so let's subsist back here at 10.15 Eastern Time for folks on the webcast. Thanks.

    Ashish Saran

    Hey, folks. We're going to come by started, so if everybody can catch their seats. All right, so we're going to come by the program going again. And it's my gladden to introduce Raghib Hussain, who will catch you through their networking business. Raghib?

    Raghib Hussain

    Welcome everyone. It's suited to note so many chummy faces and the original ones too. It has been a industrious year, full of excitement and a lot of potentials. I'm very excited to subsist section of this original combined company. And I'm fully committed to catch it to grand success. Let me expose why I'm excited. The potential that this combined company holds far exceeds what they had at Cavium. Now, just to give you a background, I'm founder of Cavium. And at Marvell I am Chief Strategy Officer and running the networking business. The scale that they gain in this combined company, the breadth of product portfolio, and the engineering knowhow, it is just incredible.

    What excites me most is the team, the technology, but most importantly the innovative products that they are working on. And I'm going to share All those detail with you today. But to commence with, they are stalwart in enterprise, and growing. They are very well positioned to subsist the leading semiconductor supplier for 5G rollout. They are driving transformation in compute for datacenter, and they are enabling the next generation of edge computing. So before they learn forward, let's start by taking a learn what is going to drive the growth in infrastructure, the spending in the next generation in the global markets. Exponential enlarge in devices is generating a massive amount of data. This data needs to subsist processed to generate value.

    Now, spirited characteristics about this data, that it is perishable, it means the sooner you extract the value higher the value is. In a traditional architecture this data was generally generated by devices and brought to some central datacenter for processing, call it a cloud. Now, because of the sheer volume of this data it is not feasible, and in many cases impractical to bring this data to some central devices -- central datacenter. And a great percentage of this data is used by the application which is captious in nature, for example, although the amount of data in 5G has increased, but the latency requirement remains the same, one millisecond.

    The data generated by the sensor around the car has to subsist processed instantaneously for car to execute captious decision, fancy it has to apply the breaks. Now imagine if All these data was conjectural to travel to some central cloud for processing, it would gain been disastrous situation. So the network is morphing out of necessity and it is becoming more and more distributed. In other words, they will gain datacenter not only in the cloud but likewise in the enterprise, in the carrier, and likewise at many of the edge devices. So if you really learn at it data has got gravity. So instead of pulling data towards the compute, data is pulling compute towards itself. All these trends are massive opening for Marvell.

    And not only compute has to sprint towards data, it has to subsist efficient and optimized for the real-time application. It means that they necessity lofty performance compute and efficient processing at every node of the network, from datacenter to carrier to edge. And at each node they gain very specific requirements in terms of cost, power, and performance. It means one-size-fit-all is not applicable anymore. And with this distributed processing model the security has to subsist implemented at every node of the network. All these requirements are being addressed by purpose-built SoCs, application-specific hardware accelerators, and in some specific cases FPGAs and GPUs.

    Now, both efficient compute and security play in Marvell's strength. The combined company has a comprehensive array of products, both for processors and networking. They gain a complete portfolio of processors ranging from baseband processor, to security processor, to multi-core common purpose processor, as well as All the artery to ARM-based server processors. They gain complete Ethernet networking solution, from switches to PHYs, to NIC adaptors. And they gain high-performance Wi-Fi connectivity solution for both access point as well as client. So in other words, the depth and breadth of the product portfolio that they got is second to none. And All these products are going to drive the growth for their company in the infrastructure market.

    We are using the portfolio to disrupt infrastructure market end-to-end, really enabling their infrastructure customer to come by the most out of this data economy. If you learn at these infrastructure applications they gain a lot in common. They All necessity high-performance compute, they All necessity security, they All necessity lofty bandwidth connectivity, and then All necessity low power efficiency. In many cases they are addressing the needs of these markets through a solitary piece of silicon, for example, the switches, the PHYs, and the multi-core processor. In some case they are actually pile market-specific application-specific optimized solution using their common portfolio of IP. For example, baseband processor. In other words, these markets gain common characteristics and they are leveraging their investments across their infrastructure markets.

    Our product portfolio has a great growing addressable market. They gain established here in a ground $10.5 billion SAM, which is growing at a 9% CAGR. Processors and networking are growing faster than Wi-Fi. In addition, they gain $4 billion SAM for ARM server processor, which is growing at a higher CAGR of about 14%. So, All in all, their SAM CAGR is 11%. Here is another view to learn at their ground $10.5 billion SAM mapped to their target ends market. As you can see, it is fairly distributed across All four market segments. As a company their IP, their R&D, and product portfolio are well aligned with the major market trends in the infrastructure.

    So let's talk about enterprise. Both Cavium and Marvell has a stalwart position in enterprise. It is about $2 billion market, and they gain about 30% share. Enterprise SAM growth for us is higher than the overall market growth, and it is because we're expanding their market share through original design wins. final time, in 2017 investor day, they talk about upcoming enterprise upgrade cycle and how Marvell is positioned to advocate upgrade from a gigabit to a multi-gigabit driven by the bandwidth needs. As you can note from this chart, the IT upgrade cycle is here. IT budgets are expected to grow driven by the needs of either upgrading the outdated equipments or by the security concern. It is just getting started. And consistent with these cycles of the deployment of the infrastructure equipments, upgrade equipments, they expect it to continue.

    While other companies gain lost their focus on enterprise, Marvell has invested in innovation in enterprise, pile targeted solution with feather that their customer wants. It is silent a multibillion dollar market, and their OEM customer needs product to enable solutions for their discontinuance customers. They necessity the latest geometry node, they necessity the low power; they necessity the features needed for the evolving requirements on this industry. By serving the needs of their customers Marvell is already growing its share in enterprise. final investor day they talk about 25 original product, at that time they were ramping in revenue. Today, the revenue generated by those products is about $200 million, and it is silent growing.

    With the combination of Cavium, now they gain a complete product portfolio from access to aggregation to core. And that will continue to drive their share in enterprise. Their merger brought together a complementary energy that enable us to provide complete solution for their customers. Cavium was stalwart in aggregation and core, and really the processors, and Marvell is stalwart in access and switching networking. Together they are able to provide complete solutions, complete platform for their customer from access to aggregation to core. And that makes us the right strategic confederate for their customers. Their complementary customer ground is likewise a tremendous value for us. For example, Cavium had significant presence in some large-carrier OEM as well as great server OEMs, where Marvell did not gain much presence.

    Now, with the combination of the company and the combination of the product portfolio, now they are considered a strategic partner. As a result, they are getting networking -- switching design wins likewise in those discontinuance customers. So let's catch an case of a typical security networking appliance out there. As you can see, that there are always a switch and a PHY setting on the motherboard along with the processor. Processor determination are generally made first. Before, neither company had the complete solution. Cavium had suited established presence in the processor, Marvell had established presence in the switch and PHY. Now this picture is a coincidence that they both were in the very boat; however in many designs they had some third-party vendor serving the other side.

    Now, with the combined portfolio they are able to provide the complete solution for their customer. And along with the processor, they can actually provide the switch and PHY solution as well so that their customer can execute their determination upfront to bring the right solution. They gain already started winning designs in this area, and there are plenty to go. This is another example, Marvell is stalwart in switch and PHY but they did not gain many core processor to address the needs of aggregation and core. Now with the combined company, they gain complete platform with a switch, and PHY and a processor and the platform solution serving the needs of their customer from access to All the artery to core.

    So you can note the combined IP and the product portfolio that Marvell and Cavium bring together uniquely position us for stalwart growth in enterprise. On top of that, they are in the upgrade cycle, it has just started. And they gain the affluent product portfolio with the latest feature to withhold driving it -- to continue driving it. Due to their commitment with enterprise their customers are considering us a strategic partner. And that is a position of energy for us which will continue their growth in enterprise market.

    Let's sprint on to datacenter. As original compute models are established they gain multiple high-growth opportunities in datacenter. Cavium has had a stalwart presence in datacenter through security and networking services offload. It is about $2.5 billion market, and they gain about 10% share. In addition, the ARM server processor in datacenter has about $4 billion SAM. We'll debate more details about it in subsequent slides. They All know datacenter compute is changing driven by multiple trends. The first one is distributed security and network services. As the datacenter is evolving, driven by the needs of elasticity and virtualization, the network services are being implemented at every node.

    The second trend is cloud-optimized ARM server processor. And then they All know there's a original trend, synthetic intelligence, and they will debate more about it. Marvell has been market leader in providing efficient compute security and network services offload for over a decade. If you learn at any enterprise security or network appliance, and if you open it up, you will note that OCTEON and their NITROX processor are in it. When it comes to security and the data plane processing Cavium has been market leader for over a decade. In cloud, security and network processing requirements are changing and it is getting distributed as they talk about. And as a result, these are implemented in every node, but there likewise you necessity the similar kind of acceleration. Marvell's Liquid Security product lines are designed and very well positioned for that market.

    We are engaged with All the HyperScale datacenter providers, as well as several data platform companies. So two of the HyperScale gain already announced their security services based on Liquid Security. And they are engaged with many more, so you expect to hear more about this. This business is in early stages right now, but it's already generating a suited revenue, and has a significant growth potential.

    Server for datacenter is a huge opportunity. It is about $16 billion TAM, and they expect that ARM servers can address about $4 billion TAM. Marvell Thunder 2X is the first Xeon-class processor. When I stutter Xeon-class processor, it is really the dual-socket ARM server processor which has the performance as well as remembrance bandwidth and hurry and connectivity of a really Xeon class which can subsist used in a common purpose server application. They gain wider software and hardware ecosystem. ThunderX2 platform has gone in production in July, and they are engaged with several HyperScale discontinuance customer at various stages at EVT, DVT, and qualification and application tuning.

    We are working closely with several vendors in U.S. and Asia. If you catch a learn at these recent announcement by their customers, several customers gain announced platform based on ThunderX2, and then there are several independent third-party analysts gain published the benchmark comparing ThunderX2 with the Intel and AMD processors. One, of the -- one which is Astra, which is the first world petascale supercomputer, it is among the top 100 supercomputer in the world and it is based on ARM server processor ThunderX2. It has 145,000 processor cores, ARM cores, delevering about a 2.3 petaflops of performance.

    Now, one of the reputed analysts is AnandTech and this is what he has to stutter about ThunderX2, "In short, ThunderX2 is the first SoC that is able to compete with Intel and AMD in the common purpose server CPU market. And that is a pleasant surprise. At last, an ARM server solution that delivers." They are seeing a suited traction in this market, and they expect it to subsist long-term growth driver for Marvell.

    Now, about synthetic intelligence, they All know synthetic intelligence is the next -- is the original gold rush out there. It works just fancy their brain. So for example, the fact that they know this is a bottle because their brain neural network has been trained over time that things that learn fancy this is a bottle, by different types of bottle, the perfume bottle, the wine bottle, and so on and so forth. So that section of the neural network is called training and learning. And then when they note something that learn fancy a bottle their brain predicts that it is probably a bottle, that section is called prediction or inference.

    Now, training is generally done in cloud because it is a gradual process, it's a batch process, it requires a lot of data and it does not necessity to subsist in the real-time. It can be, it can subsist done in a batch process way. However, inference, it's not only done in the application in the cloud but likewise in application enterprise carrier and the edge in the edge devices. Now inference has to subsist done in the existent time and instantaneously because this is where you're predicting, you cannot catch withhold the consumers waiting or user waiting for the result, right. So as a result of that, it has to subsist done at every application. As they All know one vendor out there has made a fortune out of exploiting training. However inference today is generally done in the software because the number of applications that are using inference is in a growing stage at the moment.

    We believe that inference is going to subsist much bigger market in the overall synthetic intelligence and it has a long term growth potential. Inference requires a purpose built solution optimized for a scale and power and cost efficiency, All of these AI processing plays in the core energy of their company, they gain a DNA of multi-core processing, hardware acceleration flowing out, engine scalable architecture. Gavin was working on AI for the final several years and they gain developed some core IP and architecture.

    Now what they are doing now, they are pile a purpose-built inference processor. Size properly, for volume application, application of scales, so that it can plug in every server and every edge devices. That is a low-power that is a programmable solution to felicitous the evolving neural networks needs. And it is likewise pluggable through the existing software ecosystem. They are actively engaged with several hyperscale customers out there and co-developing it with one lead partner. They gain been working likewise closely with the ecosystem, you must gain seen news related to glow compiler initiative driven by Facebook. It is an initiative to really standardize the inference usage. They note AI a multi-billion dollar market opening for us and a captious function in future Marvell products.

    Well, they are very excited about the prospects of this. They are not adding it in their SAM at the moment. However, we'll withhold you updated with the progress that they make. So let's catch a learn at Edge and other related areas, the Edge and other locality for us is really the automotive, the industrial, the video surveillance, the home gateways, gaming et cetera. It is about $2 billion market and they gain about 14% share. If you catch a learn at All these products, Marvell has been present in All these products for many years, a major result of the data economy is that the trend that compute is piteous towards the edge, towards All devices.

    As a result of that, many of these devices are becoming very sophisticated, in some cases really becoming a mini datacenter fancy for case in car. Marvell is actively engaged with All of these trends, the automotive market is going through a massive transformation, traditionally in car electronics was connected together with the low bandwidth interconnect. With the introduction of advanced driver assist and ultimately the autonomous cars, massive amount of data is being generated by the sensors around the car and it needs to subsist transported and moved around in the car at a fleet pace. This requires yardstick ground lofty bandwidth networking, Marvell is leading this trend, Marvel has long history in automotive industry, it is a lofty barrier to entry industry.

    It requires a specific quality as well as supply chain requirement. Over time, they gain established ourselves a credible automotive supplier. In 2017, they introduced the first secure networking sites and five product for automotive working. This enables the data by the sensors to subsist moved around in the car at a gigabit hurry and car can execute sense the wall around it and execute a existent time decision. They are one of the early leaders with design wins and many Tier 1 OEMs. This design takes time but they are a significant long-term growth potential for Marvell. And this year they gain included this SAM in their overall SAM and they note it about half a billion dollar opening and this is growing at a fleet pace.

    Moving on to carrier, this is a grand growth opening for Marvell and it is a market they are extremely excited about, 5G is here and it is happening and Marvell is well positioned to subsist the leading silicon supplier for 5G. Carrier is a massive SAM for us, it is about $3.5 billion SAM market and they gain about 10% share which means they gain a lot of play to grow. Their carrier SAM CAGR is higher than the market growth, this is mainly because in the 5G platform, they are increasing their content and hence increasing overall portion in the TAM. pile on a decade of innovation in 3G and 4G, now they are established to subsist a stalwart leader in 5G, here they are positioned to disrupt the market and grow their share, I'm really excited about 5G and I note 5G as the biggest growth driver for this company, the combined company has the broadest IP portfolio and capability is needed to enable to serve the requirements of the infrastructure market.

    In fact, they are the leading market silicon supplier with end-to-end capabilities. From DSP, baseband processing for ARM multi-core processor, for control and data plan, for ARM SoCs, from security, Ethernet connectivity as well as software for the complete solution. They not only gain All the captious pile blocks but over time, they gain established ourselves a credible supplier to deliver lofty performance platform for baseband applications. This makes us a very attractive silicon confederate for the carrier OEM. While today they will talk a lot about wireless and the ground station, it is principal to note that the combined company has much broader presence in carrier. Their products are designed in multiple appliances for both wired and wireless side of the carrier network. Their position in ground station has grown with every successive generation of wireless infrastructure deployment.

    When they engage first time carrier OEM came to us, at that time they were security leaders, so they came to us to provide a solution to secure the link between ground station and the core. However with their multi-core capabilities, they were able to provide a solution for protocol processing for transport in addition to security. So in 3G, they were solution for the transport. Working closely with a lead partner, they were able to develop baseband capabilities and 4G they were able to proffer baseband processing in addition to transport processing.

    I'm proud to situation that today the ground station built on their products for 4G are being deployed across the world. And specifically the LTE network of a region with over billion population is powered by their baseband processors, they gain shipped over seven million ground station processors as of today. And now with the combined company, if you learn at the requirements of the 5G ground station 5G deployment, it has a requirement of low latency, lofty performance compute and lofty performance capability of security, it All aligns with Marvell's core capability.

    So as a result, they are able to provide the complete 5G platform, looking at it another way, this is the complete stacks of the ground station, in 3G they were able to provide the protocol processing, in 4G they expanded their offering to cover the baseband processing and now with 5G, they are going to proffer the complete digital portion of the baseband processing. In other words, they are taking the workload, which were traditionally done in FPGA. If you learn at the 4G ground station, in the main card they used to gain Octeon processor and in the line card, they used to gain three baseband processors.

    Now in 5G with the key requirement, they gain two Octeon processor in the ground main card and typical configuration of 5G has two line card and each one gain not only a three baseband processor but likewise Octeon processor. Now just fancy in enterprise playing through the combined portfolio, they likewise gain a switch and PHYs in this ground station application. Translating it into what they All keeping about in 3G, they had a content of couple of hundred dollar in the ground station, in 4G they increased by three to four times and 5G they are going to enlarge it another 4X. It means that the ground station shipped by their OEM partners is going to gain the content which is quadruple in 5G compared to 4G. But there's more, if you learn at the number of OEM providers in 3G timeframe, carrier had a option to pick from a great number, typically carrier pick three OEM for a specific region.

    In the 4G timeframe because of consolidation, it was reduced to seven, eight and now it is really reduced to only five OEM providers out there. And now because of geopolitical situation, several great countries of the world are limited to option of only three OEM providers as they are engaged with All of them. So if you catch a learn at this chart, it betray there is a lot of activity going on in 5G, there are many announcements related to 5G and it is really picking up. Initial deployment of 5G is going to befall in U.S., China, Korea, Japan and India and of course the leisure of the countries will ensue from here.

    Carrier infrastructure deployment cycles are long, it's a long-term business, if you catch a learn at let's stutter for case 3G it expand over a decade, the carrier are silent OEM are silent shipping ground station for 3G. 4G had a sharp RAM driven by the bandwidth needs of the applications and it has had a suited run. They expect 5G to gain similar RAM driven by the application needs of the various applications that are driving 5G deployment.

    So ground station based on the design wins and their attraction with the customers they expect 5G to subsist the leading growth driver for this company because they gain proven track record and IP. They gain position with enlarge content and they gain broader traction with multiple OEMs, so if you want 5G in your portfolio guess what Marvell is your stock, so by now you must gain figured out why are we, so excited about the potential of this combined company.

    We are stalwart in enterprise and growing significantly. They are investing in the right products to drive the growth in datacenter and Edge. They are well positioned to catch the leading position, leading silicon supplier for a 5G roll out and they are leading that disruptive trends which is on server processor datacenter security, automotive networking and synthetic intelligence due to driven consolidation in the semiconductor industry there not too many companies that are investing in the long term innovation and the growth drivers.

    Marvell is a unique company which is not only established today and growing but likewise committed to the long term growth. Thank you very much. I'd fancy to invite Tom now to give the how to drive the growth.

    Tom Lagatta

    Good morning, everybody. I guess mic is on now. It's suited to note you All again, it's been a stutter six quarters since they were final together. As you can note this is a very different company. Today than even six quarters ago when you guys were final here Dan, Raghib, Matt talked about a broad portfolio, focus on the infrastructure market a lot of attention from customers and you're probably All sitting there going yes, expected you to stutter that today so what are the customers gain to stutter about this and so that's why they asked me here today to kind of give you the perspective from the customer side of how this acquisition is being perceived and how this original company has being perceived.

    Okay, so as you recall when I was here final time. It was March 2017 they were All in this play together it was snowing outside and I had been with the company for about three months and I told you All I said learn in order to come by this thing on track they first order a business is to align the sales and marketing function with the strategy of the company at the time, okay and I said these are the things we've got to Do and what we've got to Do quickly, so what it would how we've done what they Do here, so I talked about a coverage map in the first thing I had to Do was build a team, so I rebuilt my entire staff and then they drove that All the artery down to the bottom level probably about half the people on my staff gain worked for me before they understand my system.

    They understand what I want to Do they understand what I value. The other half gain not but having guys who work for me before on there gain been a grand value to the team in that they've helped him quite a bit. They talked about relationships, in an SOC semiconductor company today, it is more difficult than ever to execute the sale there are more stakeholders involved in every transaction than ever before so they actually developed relationship major cities across All the major customers they executed those major cities and we've expanded their relationships across All the major customers. They had to cleanly up the channel. So they went down to a solitary global distributor they reduced All the distribution partners in the regions around the world.

    We wanted to enlarge their scale with All these partners to come by more share of mine, so they restructured the entire channel that was All done and they did that literally within the first three or four months of me being here. On the sales strategy side you know as I told you final time I'm very much metric space data driven, so they did a lot of work around analytics metrics tools and processes understanding the selling capacity of this organization, collecting All the data and analyzing the life cycles of opportunities how these opportunities converted to revenue All that stuff work started done started then they started collecting data they worked on the historical data they had and they set All that in place.

    We did the entire instrument flow. They focused on solution selling and they really kept the organization hybrid to extend their reach with the variable expand sales obligate of reps and distribution that they have. THEY talked about account penetration. They gain maintained All of their top accounts and as a matter of fact we've grown their top accounts from the Marvell side since they were final here. They grew some original accounts, they added a number of nice accounts into the top ten list and as they integrated Cavium in. They really only had one customer in common in their in their in their respective top ten lists, so they had a very complimentary top ten list we'll talk a Little bit more about that later but we've got a very suited account list going forward and we're continuing to work their relationship matrix and expand their relationships up and down we'll talk a Little bit about some of these actual meetings and a Little bit. On the marketing side I told you they had fix digital marketing, the first thing they did is they spent a lot of time perfecting their digital marketing techniques, a lot of very targeted account based marketing programs.

    Targeting customers with specific messages in a very cost efficient manner, driving into their website, cleaning up their website adding a lot more material content to it All of this stuff has resulted in a lot more activity and a lot more original customers coming to us. They basically looked at and examined their public relations and trade shows strategy making certain they got maximum recrudesce on money spent there and they instituted quarterly reviews with the business units to execute certain that they had a marketing cadence for original product introductions and marketing activities every quarter so a lot of work on the marketing side.

    I talked to you about business evolution and I told you that business evolution in my world was two things creating preference and awareness at the discontinuance customer for Marvell products and pile relationships with people in their industry that needed to that were principal to us but weren't necessarily going to buy from us and so what Do they do, so the first thing they did was they built out their automotive BT BD function when I was up here final time you guys didn't even know they had an automotive business within three months of being up here final time, they had introduced the world's first gigabit secure gateway for the cars and my sales organization was overwhelmed with the activity coming in and All the design activity that was happening with that product line.

    We now gain complete coverage in All the car companies in the world with BD folks and so that's been built out. We've built out or are now processed to their section participating in pile out their service provider organization and we're cultivating a lot of strategic partners in the industry that they necessity in order to continue to travel forward, people fancy Nvidia with the automotive market, people fancy Intel they gain strategic relationships with as they travel forward, so they did All of this through 2017 as we're enter ending 2017. They decided their life was far too simple so they bought Cavium and they started it All over again and this is what we're actually doing now this is where they are with the Cavium integration. In November, they announced the transaction, in July they closed the transaction and in those eight months they spent massive amounts of time planning for the day one activities. They spent time coming through the organization making certain that they were going to assemble the best organization possible.

    We spent time looking at All the instrument flows to execute certain that they were going to catch tools the best tools from both organizations and expend them to create a best in class instrument current for the company. And so on July whatever it was when the transaction actually close, they immediately instituted a program. Today they gain the best of both worlds where the top talent for both companies 62% of the organization came from Marvell, 38% came from Cavium a very suited merge of talent across the sales organization. Literally within weeks they brought everybody into Santa Clara from the Americas organization sales and FA's and they did product cross training to come by these guys piteous quickly on selling the original merged portfolio.

    And they did a recording of All that so that EMEA and Asia at least until they can come by out there doing things in person had training as well and they could actually participate online tools and systems are merging now, will subsist actually introducing the merged system within literally within a couple weeks and for those of you who know me in my world, in the world of SoC semiconductors I view value as design wins, design wins are the lifeblood of this company and so starting in the next fiscal year everybody goes on the very pay scheme where they will compensate for value creation in value created is design wins are really focused on keeping the keeping the life blood flowing getting into production and then driving it over to Andy and the guys to execute it on a regular basis.

    And then after All this was done I heard I hauled Murphy All over the world and they talked to All of the customers about this company and what they were actually doing and so how did they react. Okay, so they basically told the tale of their observation of the market what they saw what you saw in the video today what you've heard from Raghib, what you heard from Dan about market dynamics that were driving the strategy that we're deploying and they talked about the fact that they had a focused infrastructure powerhouse that they were pile a pragmatic suffer confederate that's going to catch their intellectual property portfolio and solve their problems with everything from IP based semi custom designs All the artery to yardstick products and we're going to apply this IP, this IP to their next generation learning machines and every customer universally to a customer yes they coincide with All of your observations in the market.

    Yes, they got slides just fancy that yes they were likewise extremely surprised by the breadth of the intellectual property and every one of them to a customer acknowledged a desire for a deeper and broader relationship with the company and so they really told the, there are their customers and they are out there we're pile a company that thinks ahead so you can too and you heard that in the video today very well received by the customers. Now you know I'm going to hurry the risk of offending the animal rights activists in the play again. I showed this to you guys final time and I basically said learn if you want to catch sizable fish, you've got to fish where the sizable fish are in other words we've got to deploy their sales and marketing organization, align their resources with their largest customers. This is the best recrudesce of expended sales and marketing money that I can deliver to the company.

    We gain to win the largest customers in their chosen markets first, the leisure are going to ensue so they are aligning the sales organization we're deploying their resources next to the largest customers in every market. We're going to expend the broad portfolio in a collaborative way; we're going to solve their customer's problems. They gain actually built the company the customers fancy and want to Do business with. So where are these sizable fish, who are they what are they doing so right now as they merge their customer list as they merge the companies eight of their top 10 customers are currently over $100 million, the next two are within spitting distance and we've got a number of customers today who are sort of mid Tier customers that you heard about from Raghib and Dan that are probably going to push their artery into that top 10 over the next couple years.

    All the top accounts are direct but we're silent investing in the channel, things fancy putting deploying an FAE certification program this past year level one level two, so that FA's are tested literally given a written test basic erudition level one, basic advanced erudition to advocate products level two and level two actually has pecuniary repercussions for the distributor, so they're motivated to continue to add advocate and add resources to their product line. So catch a learn at this list Enterprise carrier datacenter it's a who's who of blue chip customer list if you want to Do business in these markets and these are not aspirational customers, we're doing business with every one of these guys today they are contacting connected with every one of these guys today.

    On the edge side I specifically left automotive in there to talk about, primarily because the car is the ultimate edge computer, it's a learning machine that's creating massive amounts of data it's making latency sensitive existent time decisions on that data. It's filtering that data it's sending it back to the core that current millions fancy it are doing that that data is being filtered at the core learning is taking location and it's going back to the edge the data gravity that that Raghib had actually explained to you. And so as they came into this thing with that gigabit gateway that they introduced final year, they started doing business with everybody on the planet who you want to Do business with, who is an automobile manufacturer design wins at major car companies that will start to actually generate revenue next year and relationships with every Tier 1 on the planet that they really keeping about, so you can note a number of up there from if you Chrysler to Ford to G.M. to Bosh to B.M.W. We're working with every one of these companies right now.

    So it's a very stalwart customer list okay, so we're really using this IP portfolio in this industry. To provide platform solutions using elastic business models to unparalleled advocate to subsist a valued confederate to their customers. We're literally selling these technologies into these markets okay, so how is this playing at the customer's Let's catch a learn I will travel through three examples of actual customer meetings on how this portfolio is creating tremendous amounts of opening from one side to the other okay. So this is a this is a datacenter platform if you believe about a mega scale datacenter it's got a hardware layer, resource management layer, virtualization layer a services layer. They typically play in the hardware layer as you would expect.

    Now, they recently had a meeting, Raghib and I with the CEO of a cloud -- public cloud provider, a hyper scale datacenter guy. And so, at that company before the merger, Marvell played in there in the storage and in the networking side. They had SSD design wins where they are working with them with their SSD controllers so that they can provide purpose bill Hot storage for their storage arrays. They are working with them on some of the datacenter glitter system solutions that Dan talked about, some of the aggregators and accelerators. They worked with them on switches and PHYs, and some of their two and four core Armada processors for data plane and control plane processor. So they had an established relationship with this company.

    Cavium came in from the server side with server-based CPUs, network offload in the contour of smart NICs for Ethernet and security offload with the Liquid Security platform. So they were having this high-level meeting, the CEO of this company and his lieutenants were sitting there, and they are discussing the portfolio. Now, I gain to read some of the comments he made, because they were more astounding to me as a sales guy, but I literally wrote them down. During this meeting, as they were going through them, the CEO said to us, "It is in their interest to enlarge the business relationship with Marvell." established sales guy, CEO sits there and says, "It's in their interest to enlarge the business relationship with Marvell. This doesn't suck. This is a suited thing." Okay? "It's much better than you guys think. You can't execute me -- web paper bag, don't call us, they will call you."

    So I literally wrote that one down, and they continued to work with this guy, and they are talking about All of their products and how they map into his products, how they can Do more business together. And he says, and I quote, "We necessity to gain this level of loyalty around All things Marvell is doing." Again a quote that I kind of fancy as a sales guy. And so, they literally walked out of there. And the top lieutenants at this company are vigilant of the fact that this guy wants to basic gain a broader relationship with this original expanded company, and they gain actually had more opportunities open up there in the past several weeks since that meeting that you can possibly imagine. Okay? So that's case one.

    So let's talk about carriers and in particular they will talk about cellular ground station carriers, okay? So Raghib talked about this, talked about 4G, 5G; both companies had a history in this market from LTE and endpoints before. Marvell primarily selling switches and PHYs into this market and the two and four core processors for data plane, control plane mostly in backhaul applications. And Cavium was selling their baseband in All multi core integrated processors in there both of us had a history. So they were having a meeting again with the CEO of one of their customers who provides ground stations into this market. And they were kind of -- he was kind of acknowledging, you know, they are sort of very captious to each other at this space as 5G market acknowledges. And he proposed that maybe they want to reckon having a written agreement, a multi-year supplier agreement where they could withhold focused on each other. Again, as a sales guy, they fight tooth and nails to come by these multi-year supplier agreements, come by customers consign for long-term. And they got a customer proposing that they note this agreement so that they could stay focused on them. So, very, very stalwart relationship with these guys, this relationship is piteous forward in a very suited manner.

    And finally, they will talk about enterprise. You learn at enterprise, and in enterprise you got access, aggregation, and core. The accesses were the -- the humans interfaced to the network aggregations where they All aggregated cores where All the routing and processing takes place. And so, they were meeting with a lot of -- they met with the execs of almost every customer who has portfolios to sell into this market, people fancy Cisco, HP, Dell, Aristo, Juniper, Extreme, Lenovo, these are guys who sell into this enterprise market, broad portfolios of equipment. And again, they were meeting with the CEO and several of his high-level executives. One of these companies provides a broad spectrum of products in there.

    Now, Marvell has done business in this market primarily through access going into aggregation with switches and PHYs, again those multi core processors for control plane and data plane, and with Wi-Fi for enterprise access point. And they pushed into aggregation. Cavium is coming from the other side doing business primarily in the core with ARM-based CPUs and security processors and coming this way, so that they kind of met in the middle. And during this meeting, the CEO is acknowledging the broad portfolio and how captious they are to their business going forward, and he asks Matt for a favor, "You know, I necessity you to come by this one product piteous a Little bit. They got customer commitments. Can you advocate me?" "Yeah, yeah, they will help," Matt made the commitment and went away. And as they are getting ready to leave, they said, well, you know, since they are asking each other for favors, they said, "Hey, Mr. CEO, you got a switch design that they are fighting for in one-year business units. Could you let us know how they are doing there?" He said, "Well, I will check." And literally within two weeks they won that switch opportunity.

    Now obviously, they are not going to win this opportunity, if they don't gain everything it takes to Do it technically and gain the pricing and the requirements of the customer needs but getting a Little phone call from the CEO motto hey how is Marvell doing in this switch opening socket, certainly doesn't wound when they are actually competing in there and so these types of things withhold happening, they withhold happening over and over again.

    In the past, they were the guy with the narrower portfolio that would struggle to compete with the broader portfolio. They are now the guy with the broader portfolio and the customers are valuing it and so you could see, this is a perfect example. These three examples that I've given you are perfect examples of how portfolio breath is helping us and these are just three examples. This is happening every day, they are seeing people coming and stutter this portfolio is very valuable to us. They want a broader relationship with you guys. Okay, so just to kind of wrap it All up, we've been on a journey, the first 11 months they took sales and marketing apart, they set Humpty back together again.

    And then, they did it All over again after the Cavium acquisition to give you a more predictable analytical metric driven function, okay and so they are largely done on the integration this thing is done. They created this infrastructure powerhouse for you and customers are sitting up and taking notice. We've had high-level meetings with pretty much every customer they want to Do business with and everyone is excited about what they had to proffer and how they can grow together. So as far as I'm concerned, their future is so bright, you got to wear shades. I was going to bring in the custom sunglasses for every one of you guys, original 11 lens Marvell on the other, but Jean reduce my budget again. I didn't gain the money to Do it. So best I can Do now, stutter thank you for listening, and introduce Jean, who is their CFO.

    Jean Hu

    Thank you. Thank you, Tom, you know what, when you submit your revenue synergy plan, I'll wear sunglasses. So accelerate up. So as you can see, it's a truly exciting time to subsist at Marvell. Their team talked about the tremendous opportunities they gain ahead of us and that they likewise talked about how they build a complete infrastructure portfolio to address those opportunity. So well how Do they spend the next minutes to tie together what you heard of this morning without pecuniary model?

    First as a team that they believe about pile shareholder value is to really subsist with the powerful business model to focus on infrastructure market to generate a top-line revenue growth earning expansion and likewise returns to shareholders. But they believe about is as their team talk about opportunities and their unique position. Matt talked about the characteristic of infrastructure market which watch to gain a very long product cycle, it requires a unique IP extraordinary engineering execution to work with the customers. So the barrier to entry is very lofty and Raghib actually gave you real-time case to talk about 3G, 4G and the 5G product cycle, they final 8 to 10 years.

    And then, Dan talk about how they work with the customers, create innovative solutions in the storage market. So when you hear All those that's fancy music to CFO's ears and I'm pretty certain you are All adore it too because what it means is only build their pecuniary model, it's predictable revenue stream, lofty and the stable grievous margin and the long -- and the consistent of free cash current with a higher terminal value. So those are the characteristic of infrastructure market, and likewise means in their pecuniary model, they actually don't gain so many what if assumptions which are focused on retreat and parameters fancy NAND spot pricing next week. I can pledge you that's the input in my model.

    So I'll cover three topics. First, I'll Do a quick recap of their pecuniary performance. Secondly, I'll debate their long-term pecuniary model and underlying assumptions. Third; I'll talk about what Do you keeping most is the capital return. Matt showed you this charter earlier about their pecuniary performance since the final Investor Day. I'll provide you a Little bit more details to betray you as a company, how they gain fundamentally changed the structure of their business model.

    So just as a quick reminder, the entire management team, joined Marvell after Q1 fiscal '17 and that time Marvell was a company that served a broader role for consumer and the market. The grievous margin was low 50s. It's actually quite consistent with the consumer semiconductor companies. The company likewise invest in great amount of R&D in All different kind for fancy consumer and the markets. The investment is large, the product cycle is very sharp, it's a year and some of them never generated the top-line revenue growth and earnings on the investment. So if you learn at the operating margin back then, its barely single-digit.

    So during the final two-and-a-half years, their team really pivoted the business into the infrastructure market. As you gain heard from All the team members and that they increased the infrastructure revenue as total revenue percentage is significantly -- when you combine their change over the strategy and their team's stalwart execution, they expanded their grievous margin from low 53s to 63.5, 1000 basis point increase, it feels really suited to stutter that because you don't come by many opportunities to stutter you increased your grievous margin by 10 percentage point.

    On operating expenses side, Matt talk about in detail how they approach results avocation. It's really minute data driven, result driven focused on returns, so when you learn at that and learn at the how the leverage of their model, they gain increased their operating margin from low single-digit to 30%. They are very proud about the model they gain viewed. This model generates a lot of a cash current too. So when you learn at it, starting from Q2 fiscal '17 to Q2 fiscal '19 despite of their long suspension over share repurchase associated with the Cavium transaction. They gain returned a billion dollar cash back to shareholders, through share repurchase and the dividend. They are very committed to recrudesce cash to shareholders.

    Let me switch gear to talk about their merger with the Cavium and their long-term pecuniary model. As their team highlighted earlier, this merger really increased their market opening from $8 billion to $18 billion. The infrastructure revenue as a percentage of total revenue increased to two-third. And also, they increased their skill and the diversification with the 200 million synergies, when you add All of them together, it truly accelerates their top line revenue grievous earning expansion and to generate higher intrinsic value for shareholders in the long-term.

    So I'll catch you through their revenue profile and assumptions under their long-term pecuniary model. Matt talked about earlier, if you learn at their core networking and storage market, they expect the market SAM without a server SoC to grow 7% going forward. They are very well-positioned to address the market opening to grow Marvell overall top line revenue by 6% to 8%.

    We expect their storage business to grow low single-digit largely in line with the market and then within storage, Dan talk about their opportunities and that they actually hold a very cautious assumption by the HDD market, which they expect the overall market dollar SAM them to decline 7% but they expect they continue to expand into the datacenter near land market which is growing double-digit they likewise note their preamp revenue to continue to ramp. Those are their original product cycles for Marvell. They will create incremental revenue opportunities to offset the market decline, so they believe their HDD business is going to subsist flattish or decline single-digit going forward. Fiber channel market has been really stable and healthy, so they continue to expect their fiber Channel business to subsist flattish going forward.

    Now on the glitter solution business, it's very exciting for us. Dan talked about the continued expansion to cloud enterprise datacenter. This business design cycle actually it's very long, if you can recall Dan's charter to learn at the percentage of revenue they are going to enlarge in non-PC segment, those are the design wins they already secured and their team are really working on execution of those design wins, so they Do note revenue continue to grow driven by those opportunities. More importantly, they are very excited about the design wins their teams are working on to address great opportunities in both emerging embedded solutions and the glitter solution market. So, overall, they continue to expect their glitter solution business to grow inline or faster than market in the long-term.

    Now let's switch into networking, the most exciting factor of their growth story. They Do expect their networking business to grow faster than market at the low teens going forward. Both Raghib and the Tom talked about the exciting opportunities they gain ahead of us. At the highest level, if you learn at both their processor product line and the internet product line, they are going to grow faster than market and their Wi-Fi product line largely is going to subsist in line with the market.

    So from the end-market perspective, they note growth opening across All their discontinuance market, which are so exciting, and that there are so many different drivers. I'm going to only highlight a few key drivers. First is the enterprise, the upgrade cycle Raghib has talked about and if you recall Marvell's enterprise switch and the five businesses has been growing double-digit during the final few quarters and the Cavium side their enterprise business has been growing double-digit too. When you combine the both portfolios, the leverage they gain and the design wins their team already won, they Do believe their enterprise business will continue to grow with a stalwart momentum.

    Next on 5G, I'm pretty certain you guys All recall Raghib's 4X chart that's what I remember, that's how my brain functioned. So 5G is really largest growth opening for Marvell going forward and then their current model assumption actually is just their lead customer withhold their existing market share and their team are working really difficult to deliver on the schedule of the design wins.

    Next is datacenter, they gain a very unique set of very innovative product lines in datacenter ranging from a security to Ethernet offload to gearbox re-timer. So All of them when you learn at the in the overall context of Marvell today, which you know, it's over $3.4 billion revenue, the revenue ground is minuscule but All of them actually are going to gain a grand opening going forward. The growth rate of All those product lines actually it's going to subsist higher than carrier space and enterprise space. So they Do expect their datacenter revenue to grow most significantly and enlarge their presence in datacenter in the long-term.

    Next their observation on the server processor business, they really only included very moderate revenue in their baseline model just based on current customer design wins and the customer engagement. I'll talk about later what they did not include. so other product line for modeling purpose, they continue to expect other product line to decline high-single-digit.

    Now let me talk about what are the upsides they can note going forward. First, revenue synergy; Tom talked a lot about the portfolio, the appointment they gain with the customers. They gain not included any revenue synergy in their baseline model. So if they generate a revenue synergy that will subsist tremendous upside. Of course, their business has long cycle, so you should expect it for the future business. Secondly, 5G in their baseline model, they only included the current design wins their team are working very difficult to deliver, they did not comprise any additional customer design win especially on the baseband side. If they win original designs there's going to subsist tremendous upside, I really necessity your sunglass in that time. That's very exciting. You don't come by CFO excited most of the times.

    And so, the next one is Hyperscale ARM server adoption, so in their baseline model, as I said, they only comprise the design wins with the OEMs, you know some of the testing chips, any major hyper secured datacenter adoption is not in their current model, so there will subsist upside the too. So as you can see, they gain a lot of the exciting opportunities ahead of Marvell and their team is working really difficult to execute because All of their businesses are very long cycle business, so everything I talk about here their team is executing forward.

    Now let's switch gear to talk about synergy and likewise talk about their operating expense model. So they reached their synergy to $200 million during their final earnings call, then they got the questions about why it's so high, why it's so high. So you guys never had, so now let me intricate to you why they achieved, they are going to achieve $200 million synergies.

    So this is about 8% of the total company's spend which comprise both the cost of sales and operating expense, which is actually within the ambit of previous transactions but it certainly powers the high-end. The reasons they could achieve with these kinds of unique synergies because they Do gain unique opportunities. I will highlight it to you, first, it's on the R&D side. So both companies were investing in high-end the datacenter switch and embedded the server processor -- embedded the processor business and a lot of you know, those are very great investment. So their team worked extraordinarily difficult to consolidate the roadmap. So in each business, they pick the most competitive roadmap going forward which they discontinuance up saving a lot of money and contributed significantly to the savings over $200 million synergy.

    The second one is facility consolidation. It's relatively smaller, but it's likewise very significant for us. They gain a lot of overlapping offices across different locations, they can consolidate, but the most unique one is they gain their great Design heart and headquarter located close to each other and one of us befall to gain actual space. So they actually they are going to subsist able to sprint the entire Cavium headquarter and the great design team to Marvell's campus without enlarge in any space that consolidation is very efficient. So they gain been able to redeem more facility cost which is a fixed cost as you guys know to achieve synergy and contribute it to this $200 million revenue.

    Now let's learn at their synergy execution timeline. Their team actually is executing ahead of time. On grievous margin side, they expected to achieve $50 million synergy which was started in Q1 fiscal '20 and over time to ramp up to achieve the total $50 million synergy. As they learn at their grievous margin, they pilot their Q3 as combined the company grievous margin to subsist around the 64.5%. So if they achieve their $50 million synergy target, they will subsist able to come by it to around 66% grievous margin.

    On the operating expense side, their combined company's operating expenses hurry rate ground is about $325 million and then they guided their operating expense for Q3 fiscal '19 to subsist in the ambit of $300 million and $305 million. So what had implied is we're going to achieve $90 million hurry rate of synergy out of the gate as a combined company. Then you are going to note some payroll tax and the merit enlarge in the first-half of fiscal '20, but once they migrated to second-half of fiscal '20, they are going to subsist able to complete one ERP program and achieve the remaining $60 million synergy for the overall $150 million synergy.

    So when you believe about how they manage their operating expense, Matt talked about extensively the discipline approach they have. On SG&A side, Marvell standalone already achieved below 8% SG&A as a percentage of revenue. They will continue to drive operational excellence to target SG&A as a percentage of revenue to subsist between 6% to 7%.

    On the R&D investment side, they want to invest for the future, so they expect their R&D investment ranges around 24% to 25%. The artery they approach it as Matt discussed is for the established business, they will manage R&D expense to subsist much lower than 24% to 25% to maximize long-term cash flow.

    For grievous business, they are going to invest higher than 24% to 25% to drive their business grievous and the expansion. For strategic investments, those are the investments that we're creating future and to innovate, we're going to monitor those investments and focus on recrudesce on those investments.

    Automotive is a grand example, in the past final year they did not comprise automotive into their SAM but the investment has been paying off and we're very excited about their opportunities in the automotive Ethernet market.

    So when you set All together to learn at their long-term pecuniary model, they expect to deliver top line revenue growth in their baseline model to subsist at 6% and 8%, they expect their grievous margin to subsist greater than 66%. On the operating expense side, they will execute certain they enlarge OpEx less than their revenue increases to come by to the leverage model. So operating margin, we're expecting to subsist greater than 35%.

    Our free cash flow, the company has a very lofty free cash current conversion because their CapEx is only 2% to 3% of revenue and the depreciation it's probably 3% to 4%. So it's very efficient that cash current conversion model, they expect their free cash current to subsist approximately 100% of non-GAAP net income which is about 30%. So when you learn at this model we're pile which is focus on infrastructure market, that's why they can gain this kind of a fundamental economics behind their model.

    Now let me talk about the capital structure and the capital returns, so the artery they believe about the capital structure is to really gain a stalwart pecuniary flexibility, so they can invest for the longer term, that's how they structured a Cavium transaction.

    So at discontinuance of Q2 fiscal 2019 after they closed the transaction, they gain over $500 million cash and likewise they gain $500 million undrawn credit facility, their leverage is very reasonable, their grievous leverage ratio is about two times and the net leverage ratio is only 1.5 times.

    As a company, it's very principal for us to maintain their investment grade because they really want to invest for the future, so they want to gain ample access to that market at very reasonable cost, invest through economic cycles and likewise catch advantage for consolidation opportunities if they present themselves. They are going to start to pay down their debt, since they generate a lot of the cash flow, they believe of between their debt reduction scheme and their EBITDA expansion they will subsist able to achieve 1.5 times grievous leverage ratio in the next 18 months in the next 12 months.

    Now let's talk about capital returns. You gain heard from their team, they gain tremendous opportunities ahead of us. So their number one objective is to invest in their business organically and through acquisitions, then their long-term objective is recrudesce cash to shareholders is to recrudesce at least 50% of free cash current to shareholders through both dividend and the share repurchase.

    In the near-term, let me talk about their priorities, first their business is generating significant cash current even right now, so they Do believe they can maintain their dividend level and started to pay down the debt, the level for debt reduction is going to subsist modified with their share repurchase plan.

    As of you'll probably gain seen is this money, their board of directors raised their share repurchase scheme to $1 billion by authorizing 700 million share in repurchase, so when you learn at their numbers some of you may track it closely not is they actually already started to buying their shares after Q2 earnings call, they already bought back about $50 million of their shares, we're really buying their share at this current level as grand investment.

    If you learn at their long-term target model, if they can achieve their long-term target model, they will note huge upside. So in summary, when you believe about the Marvell, they are very well positioned to address very great opportunities in the infrastructure market space and that they gain a very powerful business model with underlying stalwart fundamental economics to drive long-term cash flow. And they likewise gain a stalwart pecuniary position and a stalwart pecuniary flexibility, so they can both continue to invest for the long-term and then recrudesce cash to shareholders.

    Before I invite their team to forward up for mp;A, I just want to catch this opening on behalf of their entire team to really thank everyone for your interest in Marvell and likewise thank their long-term shareholders for your stalwart advocate through their journey to build really grand company. Their objective is to build the business for the longer term and that they want to create a shareholder value for the longer term.

    Thank you and I will invite their team to forward up for mp;A.

    Question-and-Answer Session

    A - Ashish Saran

    All right, folks. We're going to travel to the mp;A session. There are folks who gain wow. It's going to subsist interesting. Can they start on here, please?

    Matt Murphy

    He has got the mic.

    Ashish Saran

    Okay, travel ahead. Well, that was fast. Okay.

    Unidentified Analyst

    Right here.

    Ashish Saran

    Okay. Yes.

    Unidentified Analyst

    My apologies. Thanks for taking my question. I had a couple of questions about the -- some of the products of Cavium that were rationalized or decided to -- you started to stick with. So first with XPliant, what inside of XPliant from an IP perspective helps to preserve product line maybe in the core enterprise discontinuance market, and then as well piteous into the datacenter discontinuance market? And with respect to ThunderX2, what was the thought process behind, or the considerations in deciding to maintain that? Was it because you basically had sunk All the R&D cost already, you decided to roll the dice, or is it indicative of the product having some suited long-term growth prospects?

    Raghib Hussain

    Okay. So when it comes to XPliant product line, it is combining. They gain combined a roadmap of the two product line that they were working at Marvell, Falcon product line as well as XPliant, they were both targeted for the very market. There are few areas -- blocks in XPliant, which is very interesting, for example, a elastic capability of elastic parcels [ph] and the entire aspects of visibility and programmability, so being able to really gain the capability to view the packets through the network and so on. So they gain taken those thing and they gain merged the two architecture in the subsequent architecture. So that was the thought process behind XPliant.

    Matt Murphy

    I'll give a quick observation on Thunder. I subsist substantive I gain never been a believer that you continue with the project, because of the sunk cost or looking at how much you've spent today to warrant let's withhold going forward I wasn't raised that way, trained that way, nor believe that. So they very much learn at that opening as on the go-forward, and what's the market opportunity, how is the traction going, what's the customer adoption and All that's going very well as you heard from Raghib. So that one we're enthusiastic about.

    Raghib Hussain

    The overall traction is really excellent, and we're making grand progress, and that's how they arbiter All of their businesses.

    Ashish Saran

    Next question?

    Ross Seymore

    Thanks. right here, Ross Seymore from Deutsche Bank. Two questions; first one for Matt, during the final few months there was a lot of consternation about the Cavium revenue level. I know you went into grand deal to detail in your final conference call about that, but any updates as to either the claim side or the channel rationalization side that they can learn at going forward?

    Matt Murphy

    Sure. So yes, so they did their call maybe a month ago. I believe they gave the outlook. They gave -- they leaned in a Little bit more than they normally do, right, to give investors visibility. And so, when they broadcast their next earnings, obviously we'll give you guys a bit on the short-term. Today's goal was really to focus on, "Hey, what are the long-term prospects of the company? Where are they taking it? And where are they heading?" So, not going to observation about the short-term today.

    Ross Seymore

    I'll travel with the long-term follow-up with Raghib…

    Matt Murphy

    Okay, great.

    Ross Seymore

    - the 5G side, obviously that's an locality you're very excited about that 4X multiple as they travel from 4G to 5G, talk a Little bit about the mile markers and the timing of when they can start to note some of that evidence within your networking business?

    Raghib Hussain

    So, with their already design wins and the lead customer, they are expecting revenue started later section of the next year. And of course, it will ramp into calendar year '20. Now, in addition to that, as they mentioned earlier and Jean likewise pointed out, they are actually heavily engaged with the lot of other OEMs. So they are actually in a very suited position to win additional design. So, their current ground scheme does not comprise any of the additional design, or does not comprise actually additional market share gain by their lead customers.

    Blayne Curtis

    Thanks, Blayne Curtis of Barclays. Two questions for Raghib or Matt, this is the first time you've mentioned that AI inference product, if you can give any strategy on timing of that when you execute sample, and then obviously as everybody knows there's many public and private companies chasing after this market, if you maybe just talk about the differentiation, you gain been working on this, I believe you said two years, why you decided as Mike commented, to travel forward with the product? And then, just following up on Ross's question on 5G, if you did win on these next-gen 5G ground stations, just may subsist some timing as to when that could contribute? Thanks.

    Raghib Hussain

    So, the product that they are going to sample, they are -- it's going to sample next year, right, in terms of timing of the product. Now, if you learn at this entire market, as I mentioned earlier, there is a entire kind of goal, right, sort of -- I believe everybody is trying to really chase the sizable guy out there, which is really focused on training. That is why everybody is trying to build the biggest and baddest sort of a thing, right?

    Our approach is their working with the customer is that they really necessity a solution which is really designed for a scale, right, and that is why they -- when -- just fancy always that they did in Cavium as well, they found not only that they believe that way, but other sizable customers likewise believe that way, and that's how they started working with a close partner, and that's why we're developing the part.

    Matt Murphy

    Maybe I'll just add, I believe we're well-positioned there as well, because in the discontinuance when All these chips are available and All the benchmarks are done, a huge consideration I believe of any infrastructure company that's going to deploy AI processing into their hardware, into their systems, is going to want the very dynamics that they described today, you know, great supplier, viable, focused on the discontinuance market, track record of execution. And so, I believe that's going to discontinuance up playing to their strengths, but as Raghib said, it's an vigorous project, we're developing the chip, we're sampling it next year, we've done the evaluation of its prospects, right, relative to other investments we're making, we're very excited about it. And they believe that although we're not including it in their SAM, because by the artery the SAM at this point is actually -- these numbers are so great that it's difficult to really -- you could come by third-party reports, so they prefer to execute the project, kind of work with their customers, and as they execute progress Little bit fancy they did with automotive Ethernet, then comprise this at a later date in terms of the SAM and the opportunity…

    Raghib Hussain

    Blayne, and just to add a Little bit more, actually in terms of All of the benchmarks, All of the metrics, and in terms of performance, power efficiency, cost efficiency, actually their solution what they know based on All the other available, is going to subsist the market-leading solution in the market.

    Blayne Curtis

    There was a follow-up question I believe on additional baseband customers, and maybe you can just observation timing -- you know, it takes a couple of years.

    Matt Murphy

    Sure. Yes, I believe that -- again, we're very focused on getting their lead customer production and enabling them to subsist successful. I believe the confederate model that they showed when they said full ASIC merchant partner, I believe that's being very well-received especially in this 5G cycle, where there's a pretty great diversity of not only companies developing infrastructure for this, but the kinds of radios that they want to develop are likewise going to subsist quite disparate. And so, just to Do a gigantic ASIC for each of these is going to subsist a huge lift, and I believe the fact that the Cavium team actually has this proven track record on 4G and 5G IP, that confederate model, but starts to learn very attractive. So anything they were -- they would subsist able to win there would clearly subsist a original product development. They necessity to travel often start that chip. So these are not ones that would ramp any time next year, they would subsist in the future, but this again is a very suited long-term opening because as you can note from the 3G cycle, the 4G cycle, now the 5G cycle, these are multi-year. And if you talk to their customers, they believe actually 5G is going to final even longer from a cycle point of view than 4G. So, these are longer term opportunities that would layer in.

    Karl Ackerman

    Hi, Karl Ackerman from Cowen. Two questions please, I believe the shift from media to flash-based storage is clearly a tailwind for you, but I believe one of the concerns from investors is how fleet SSD controller ASPs approach those of your difficult drive controller? So, how should they believe about sustainability of the premium you receive on glitter controllers versus difficult drive controllers? Is it in a strictly linked to NAND ASPs per gigabyte?

    And I guess as a follow-up, how they believe about both the trajectory and potential competition between yourselves and the All glitter array providers as your Ethernet bunch of glitter seems fancy a grand alternative for NVMe over fabric arrays? Thanks.

    Matt Murphy

    Okay, the first question was really ASP comparison between HDD and glitter controllers, was that the question?

    Karl Ackerman

    How sustainable you believe the premium of your NAND controllers will remain above difficult drive controllers?

    Dan Christman

    I see. Okay. So I believe it depends on the segment that you're in. So clearly, with their focus more towards a datacenter and enterprise we're able to provide original features, functions, and come by a higher value out of those. Certainly in the notebook or PC space, you'll note transitions as you change interfaces or -- but that's more difficult in that space, and that's why we're focused more towards the other end.

    And as far as the EBOF, right, for instance the All glitter arrays, I would stutter that those types of customers execute in the All glitter arrays and the enterprise customers are customers that we're focusing on with those products. So I believe that's actually very complementary that they hope to note them adopt those architectures.

    Jean Hu

    To add to what Dan said, right, recall in the glitter controllers that they design typically takes three years to design into the customers, walkway the customers, stalwart IP in cloud datacenter. The ASP actually is a wider range, right, it's because you contribute IP to your customers. So overall, as I said earlier, when you learn at the more commodity kind of pricing, that has nothing to Do with their controller pricing, which is very much embedded into the IPO provider for the customers.

    John Pitzer

    John Pitzer with Credit Suisse. Just Dan a follow-up on the storage side of the market, can you talk a Little bit about the desire of NAND glitter providers to actually come by into the controller market, and how you note sort of the merchant controller market, market share developing over time? And then Matt, as a follow-on or second question, you haven't included Cavium synergy -- revenue synergies into the forecast, can you just talk about where they should note those synergies first? I know in the past, you've talked about, for example, Cavium using other people's PHYs and that sort of an easy switch, how Do they believe about the build of revenue synergies over time especially given the long duration design cycles that you're involved in?

    Dan Christman

    So I mean, obviously vertical integration with the NAND vendors is that we've always seen, we've always considered in their SAMs that you know, they model based on some assumptions there as well. We've traditionally had business with those customers. They continue to work with them on inevitable business models. So I believe it's a natural section of the evolution of that market. Clearly on the Do It Yourself models and some of the stuff we're doing at datacenters, you've got to recall that they're going to focus a lot of their investments on some of the higher volume segments, but yet when you necessity some of the IPs and when you learn at going from stutter 28 to 12 to seven nanometers doesn't that kind of betray that graph of how much expenses that gets to be. Marvell leverages across many, many chips. So there are certainly segments that build Do stuff themselves, there are segments where they will work, they will buy something directly from Marvell, or working some of these confederate models and the business models that -- again that showed. So I believe it's something that they reckon when they learn at their models, whether it subsist the SAM or the revenue.

    Matt Murphy

    Yes, just one quick observation on that, I believe they gain been operating in that environment since I joined. I subsist substantive they had -- I believe the first month I was here, they had a management consulting company offered to Do a free month of work for us, you know, to advocate us come by integrated. And so, one of the studies they did was on their product lines, and they said, "Hey, you know, the SSDs product line, they recommend you shut it down because everybody is going vertical." And then they said, "Okay, well, let's really learn at the data," and of course that would gain been a horrible decision, because that became a hugely principal business for the company. So I believe they are going to co-exist and I believe as Dan mentioned, it's going to subsist different business models.

    On the revenue synergies, the sizable opening there really is the design wins. I subsist substantive there are -- there is not a lot of discretionary business they gain in their portfolio, and I believe that's actually a suited thing by nature that they are typically highly proprietary sole source. So, going out and chasing a customer through distribution or something is typically tough especially if you are trying to sell an Octeon. I believe that's a challenge, right, but I Do believe there are some tactical things that they are doing certainly in the short-term, but the overwhelming revenue synergy that they can achieve is actually from the examples that Tom gave, which is really going in as a combined company leveraging the combined IP of the two, and really selling a entire system solution versus just selling a chip. And the pull-through is very strong. When you gain a processor, you know, a stalwart processor portfolio, it does enable you that sort of insight into the decision-making on the board at the earlier stages. So I believe that's really where you should about it, and I believe to the extent they are successful in doing that, then they will just push their revenue growth long-term at the higher discontinuance of their model.

    Ashish Saran


    Vivek Arya

    Hi, Matt. Vivek Arya from Bank of America Merrill Lynch. Thanks for hosting the Analyst Day today. So first, near-term, I understand you don't want to talk about Marvell specifically, but there is a lot of worries about just the semi conductor cycle broadly, you know, China trade tension, CPU shortages, so to whatever extent you could, you know, advocate set their intelligence at ease about how are you seeing just the broader psychodynamics play out? But longer term, give us kind of of a report card about the integration process, because Cavium was running a very different way, right, it's very entrepreneurial company, but the pricing dynamics, lead times, customer engagements were done in a very different artery than what they were used to seeing in Marvell, especially when after you and Jean took over. So, give us some sense of report card that are you through that integration process is now being hurry as one smooth company, with one united front of customers, so that they can subsist assured that there is going to subsist the right execution behind some of the targets that you gain laid out? Thank you.

    Matt Murphy

    Sure, great, great. Two questions, so, yes, the first one I believe is pretty interesting, right, to host an Analyst Day in the middle of -- about as clangorous an environment as they gain seen in a longtime, and I believe All those issues are very existent and upon us in terms of the geopolitical issues and the global issues with respect to tariffs. It's unclear what ramifications and All that are going to be. They are silent working their artery through that. I believe on the PC one, I believe to the extent that there is -- they are downstream from that, right, so I believe the best source of information would subsist travel talk to the PC makers, or even the drive guys, right, and they are two levels removed. And so, they are going to just react, depending on what happens, but you certainly believe any shortage there has to subsist short-term in nature just because at some point there will subsist enough PCs to supply the world, I believe the world without enough PCs doesn't execute sense to me. So I believe they will work through that issue, okay? And they will deal with it.

    I believe on the integration, I will execute a few comments and then maybe I will let Raghib observation too since he came from the Cavium management team, he advocate build the company, but they are very far long in integration. I believe the fact that -- I subsist substantive I showed the picture for a reason, they were very purposeful and solicitous about the fact that it was a different culture and a different kind of company, and I believe they took steps early on to obviously give the Cavium leaders significant roles in the combined company, they took significant steps to enroll them in their culture and walk them through kind of how they hurry their business.

    Our point of views has been very well-received. I believe -- and they gain really -- I believe integrated them well into their system, I subsist substantive the fact that they did this portfolio review, which is really one of the most principal processes they gain in their company. They spend a entire week doing that, and they probably had -- I don't know, eight or 10 Vice Presidents -- technical by the way, most of them are either follows or engineering leaders from Cavium actually unite and advocate us review the entire combined set of businesses. And then at the discontinuance they made decisions about how they are going to allocate their resources, you know, these guys are smart, right, they come by that. "Okay, wait a minute. This business is really not making as much money as they thought," or this one looks fancy it doesn't gain enough resources, or you know, and so when you actually catch the stalwart technical acumen of Cavium and you combine it with the stalwart pecuniary acumen on Marvell, they view that as a very intertwined capability in their company. I believe it's been very well-received. And so, the final point in that would subsist Tom has brought in the sales organization, they are pivoting from kind of commission-based, design win based, right, from an operations point of view, Andy Micallef, who is their leader there, he has done a grand job in driving Marvell's operational excellence, right, that entire team now reports with him. And I believe people note the profit to running it this way. So, maybe Raghib will give you a observation since you are…

    Raghib Hussain

    Yes. So I want to stutter overall integration is going on very well, and let me expose you although at outside it looks very different company, but when it comes to core engineering DNA, what company has similar DNA? They are difficult working and engineers focused to create in a artery to create value out there, right? So that is a suited thing.

    The other aspect which actually worked out really well in this situation, the artery top-down the Marvell management actually provided the environment, right? So it was very inclusive and very open. It's not like, okay, it's my way, what's your artery sort of a thing. It's just like, okay, let's come by together, design out what is the right thing to do, which one, as Matt mentioned, which are the -- when you are merging the businesses, which makes sense to keep, which makes sense to let travel and things fancy that. So, All those decisions were very inclusive, and the team really feel like, "You know, I did section of the overall thing." So, not only at the top level, but likewise at various engineering level and so on. So, overall environment is very, very kind of cooperative. They note the value of overall objective-driven and goal-driven fashion in which actually, is really appreciated by a lot of folks in the Cavium side as well. They Do realize that the scene are not done based on politics, but based on overall bigger company goals. So, those values actually are taken really well.

    At the very time, it is not that -- you know, entrepreneurial thing is kind of squash or cancel at all. I subsist substantive if you really learn at kind of products they talked about today, I mean, they are investing in a lot of grand potential innovative products, right? So, I would stutter the overall thought-process of being innovation-driven and being leader in inevitable areas is likewise appreciated on overall management side. That is working out very well.

    Matt Murphy

    I mean, catch one final question before they necessity to wrap up.

    Quinn Bolton

    Quinn Bolton with Needham. Just a follow-up on 5G, you gain talked about the 4x enlarge as you travel from 4G to 5G, so I believe your content opening is probably approaching a $1,000 per ground station, and you gain talked about embedded processors or layer four to seven, you gain got the baseband processors, you come by your Ethernet switches and PHYs, where does the value forward from? Is it fairly evenly spread across those different solutions? Does the baseband processor depict the largest percentage of the dollar opening for ground station?

    Raghib Hussain

    Okay. Should I catch that? So first of all, I thought you guys in finance can Do a better math, but anyways, just to repeat, in 3G they worked up for a $100 content, in 4G they increased it three to four times, and it's going from 4G to 5G, they are increasing another 4x compared to 4G, right? So you can Do the math.

    Now, on the other -- on the side of where it is coming from, in reality it's a mix, it is more -- of course the processor side, the baseband processor as well as the Octeon [ph] processor is higher ASP, but then the additional -- you know, significant addition with the combination of switches and PHYs, because now this time the bandwidth which is piteous data you know, handle data by the ground station, bandwidth is much higher, and as a result of that, you necessity switches which is at a much higher bandwidth level compared to the before previously.

    Matt Murphy

    All right, well, thanks everyone for attending the session today. They really esteem the time you spent with us, and for folks in the room, there is a lunch next door. You will gain the casual to network a Little bit more with the executive team there. So, thanks again.


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    MORGAN Studio

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