Semiconductor Engineering .:. The Week in Review: IoT
Finance Marvell Technology Group priced $500 million in senior notes due in 2023 and $500 million in senior notes due in 2028. The chip company will use net proceeds from the debt offering, cash on hand, and borrowings under a new term loan facility to fund the cash consideration and other amounts payable for Marvell’s proposed $6 billion acquisition of Cavium. The companies have expected to close the transaction, announced last November, by mid-2018.
Sunnyvale, Calif.-based CrowdStrike, which specializes in what it calls cloud-delivered endpoint protection, received more than $200 million in Series E funding, valuing the company at exceeding $3 billion. The new round was led by General Atlantic, Accel, and Institutional Venture Partners. March Capital and CapitalG participated in the funding. CrowdStrike, founded in 2011, will use the money to promote its cloud-based Falcon platform.
Cylance of Irvine, Calif., raised $120 million in new funding, bringing its total private funding to more than $290 million. Funds managed by Blackstone Tactical Opportunities and other investors took part in the round. Cylance, which provides endpoint security through threat prevention involving artificial intelligence, will use the funds to increase market share, extend its product portfolio, and expand its worldwide footprint in Europe, the Middle East, and the Asia/Pacific region.