Killexams.com 9A0-901 brain dumps | Pass4sure 9A0-901 brain dumps | | jeepmansoffroad

Pass4sure 9A0-901 dumps | Killexams.com 9A0-901 true questions | http://www.jeepmansoffroad.com/

9A0-901 shimmer Lite 1.1 Mobile Developer(R) Certification

Study pilot Prepared by Killexams.com ADOBE Dumps Experts


Killexams.com 9A0-901 Dumps and true Questions

100% true Questions - Exam Pass Guarantee with tall Marks - Just Memorize the Answers



9A0-901 exam Dumps Source : Flash Lite 1.1 Mobile Developer(R) Certification

Test Code : 9A0-901
Test title : Flash Lite 1.1 Mobile Developer(R) Certification
Vendor title : ADOBE
brain dumps : 108 true Questions

Get these brain dumpss and visit holidays to situation together.
All in all, killexams.com changed into a majestic manner for me to situation together for this examination. I exceeded, but became a bit upset that now any questions about the examination maintain been one hundred% similar to what killexams.com gave me. Over 70% had been the equal and the rest changed into very comparable - Im no longer positive if this is a trustworthy issue. I managed to pass, so I assume this counts as a trustworthy result. but understand that despite killexams.com you noiseless want to examine and expend your brain.


9A0-901 true exam questions and Answers!
I wanted to maintain certification in 9A0-901 examination and i pick killexams.com question and respond for it. the entire lot is brilliantly arranged with killexams.com I used it for subjects love facts accumulating and needs in 9A0-901 exam and that i were given 89 score attempting any of the question and it took me almost an hour and 20 minutes. massive pass to killexams.


real exam questions of 9A0-901 exam are Awesome!
Your question monetary institution is want of the hour. Ive were given 89.1% inside the 9A0-901 examination. Super needs to your specialists. Thanks group. So extremely joyful to simple this examination. Your gaze at fabric was extraordinarily useful, clear, consise, protecting entire material and suberb stacking of questions to do one strong guidance. Thank you over again to you and your crew.


just attempt these today's dumps and success is yours.
Its a completely profitable platform for operating experts love us to drill the query monetary institution anywhere. im very an nasty lot grateful to you people for creating such a terrific exercise questions which changed into very profitable to me within the final days of examinations. ive secured 88% marks in 9A0-901 exam and the revision exercise exams helped me loads. My feeling is that gratify enlarge an android app in order that humans love us can drill the checks whilst travelling also.


where can i down load 9A0-901 trendy dumps?
To accept organized for 9A0-901 exercise examination requires a entire lot of tough paintings and time. Time control is one of these complextrouble, that can be hardly ever resolved. But killexams.Com certification has honestly resolved this hassle from its root stage, with the useful resource of imparting style of time schedules, simply so it is straightforward to effects entire his syllabus for 9A0-901 practiceexamination. Killexams.Com certification gives any the instructional guides which might be faultfinding for 9A0-901 exerciseexamination. So I maintain to mention with out dropping a while, launch your schooling underneath killexams.Com certifications to accept a immoderate rating in 9A0-901 exercise exam, and do your self taste on the top of this international of information.


Observed maximum 9A0-901 Questions in dumps that I prepared.
The precise answers were now not hard to recall. My information of emulating the killexams.Com brain dumps turned into genuinely attractive, as I made any proper replies within the examination 9A0-901. A majestic deal preferred to the killexams.Com for the help. I advantageously took the examination readiness inner 12 days. The presentation style of this aide emerge as simple without any lengthened solutions or knotty clarifications. A number of the subject which are so tough and hard as well are educate so particularly.


Did you tried this wonderful source latest actual exam questions.
My brother saden me telling me that I wasnt going to evanesce through the 9A0-901 exam. I be sensible after I gaze outdoor the window, such a lot of one of a kindhearted humans need to be seen and heard from and they simply want the attention people however i can repeat you that they students can accept this attention while they pass their 9A0-901 capture a gaze at and i will inform you how I cleared my 9A0-901 capture a gaze at it turned into simplest when I were given my maintain a gaze at questions from killexams.com which gave me the hope in my eyes collectively for any time.


it's miles outstanding to maintain 9A0-901 actual test questions.
The killexams.com Questions & Answers made me productive enough to split this exam. I endeavored 90/95 questions in due time and passed effectively. I never considered passing. Much obliged killexams.com for assist me in passing the 9A0-901. With a plenary time work and an official degree readiness side by side made me greatly occupied to equip myself for the 9A0-901 exam. By one means or another I came to assume about killexams.


It is majestic benchmark to prepare 9A0-901 exam with dumps.
I looked for the dumps which meet my precise desires at the 9A0-901 exam prep. The killexams.Com dumps actually knocked out any my doubts in a quick time. First time in my profession, I in reality attend the 9A0-901 examination with best one training material and be successful with a high-quality score. Im surely happy, but the intuition imright here to congratulate you at the remarkable assist you supplied inside the form of capture a gaze at cloth.


thrilled to pay attention that trendy dumps cutting-edge 9A0-901 exam are available prerogative here.
Killexams.Com questions and answers helped me to recognize what precisely is predicted in the exam 9A0-901. I organized properly inside 10 days of instruction and finished any of the questions of exam in 80 mins. It incorporate the subjects similar to examination factor of view and makes you memorize any of the topics without hardship and correctly. It besides helped me to recognize a pass to control the time to complete the examination before time. It is best method.


ADOBE ADOBE shimmer Lite 1.1

Adobe and Qualcomm accomplice to combine shimmer into BREW | killexams.com true Questions and Pass4sure dumps

Qualcomm and Adobe maintain introduced a partnership to combine Adobe shimmer without retard into the BREW cell Platform, additional solidifying shimmer as a tenable platform for cellular construction.

BREW is Qualcomm’s mobile software progress platform, whereas “BREW mobile Platform” is the identify of the subsequent generation of BREW.

whereas there is already a shimmer Lite for BREW extension obtainable, it’s via no ability an benchmark answer. It’s best available on a number of Verizon BREW handsets, and relatively limited in its capabilities. As BREW mobile Platform integrates shimmer at once, it’ll be carrier agnostic; so long as the handset is working the modern BREW, it’ll maintain Flash. moreover, lots of BREW cellular Platform’s APIs might be accessible by the expend of Flash/Actionscript, allowing builders to access cellphone performance through their shimmer functions — youngsters, the accurate APIs that can be supported maintain not been announced

The shimmer construction world is already excited in regards to the chances. Stephen Jackson, President and CEO of Smashing concepts, Inc., the biggest developer of flash-based content material within the US, had this to say:

“today’s news from Qualcomm and Adobe is a great step ahead in increasing the shimmer eco device on any mass market BREW handsets globally. the mixing into the platform will allow superior alternatives for content builders as well as permit for expanded distribution with a worldwide listing of operators.

as the leading developer and aggregator of shimmer Lite content within the US and EMEA, they discern this as a different benchmark that shimmer is becoming a favorite platform for operators, device OEMs and builders for developing enticing mobile experiences.”

the first batch of Qualcomm chipsets with BREW mobile Platform should noiseless approach off the strains q4.


Adobe To enhance shimmer for the iPhone | killexams.com true Questions and Pass4sure dumps

Steve Jobs wasn't any that passionate about Adobe's shimmer on the iPhone, and what does that imply? It apparently potential Adobe will simply ought to try tougher, and that's exactly what they're doing. in response to WSJ, Adobe will strengthen shimmer for the iPhone. Yup, they are no longer going to do expend of the existing shimmer Lite; they're going to boost a brand modern version (or tweak the current one) principally for the iPhone.

right here's what Adobe's CEO, Shantanu Narayen had said about the shimmer on the iPhone (extraordinary Adobe spokesman Ryan Stewart, who had no concept about this, within the process):

"We accept as actual with shimmer is synonymous with the internet journey, and we're committed to bringing shimmer to the iPhone...we've evaluated (the software developer equipment) and they believe they can enlarge an iPhone shimmer player ourselves."

It seems Adobe's on a roll. First, they signed a cope with Microsoft, who licensed shimmer for windows mobile-wearing phones. Then, they posted fanciful fiscal consequences for the year. And now, they're likely going to overcome this ultimate, crucially big, nook of the smartphone market.


windows: Adobe Reader and Acrobat 9.x security Updates available | killexams.com true Questions and Pass4sure dumps

Adobe released security updates for Adobe Reader and Acrobat 9.x for windows (see APSB11-30). Two faultfinding vulnerabilities (CVE-2011-2462, CVE-2011-4369) are being actively exploited in confined, focused assaults within the wild. These vulnerabilities could trigger a crash and allow an attacker to capture control of the affected equipment.

Adobe Reader/Acrobat X are additionally littered with these vulnerabilities. although, Adobe Reader X included Mode and Acrobat X protected View would support away from an capture odds of focused on these vulnerabilities from executing with "enhanced security" checked.

To determine included View in Adobe Acrobat X:1. Open Adobe Acrobat.2. click Edit > Prefences > safety (superior).three. be sure that "data from potentially perilous locations" or "All data" with "enable improved safety" are checked.four. click trustworthy enough.

To verify blanketed Mode in Adobe Reader X:1. Open Adobe Reader.2. click Edit > Preferences > general.3. assess that "allow protected Mode at startup" is checked.four. click on ok.

Adobe recommends that Adobe Reader/Acrobat 9.x clients for windows supersede to Adobe Reader/Acrobat 9.4.7.

Affected utility ==> advised Reader/Acrobat update

Adobe Reader/Acrobat X (10.1.1) and prior 10.x (windows, Mac) ==> supersede to be launched Jan. 10, 2012Adobe Reader/Acrobat 9.four.6 and past 9.x types (windows) ==> Adobe Reader/Acrobat 9.four.7Adobe Reader/Acrobat 9.four.6 and previous 9.x types (Mac) ==> update to be released Jan. 10, 2012

Adobe Reader for Android and Adobe shimmer player aren't suffering from these considerations.

Adobe Reader/Acrobat eight.x is not any longer supported by Adobe. gratify improve to a newer edition.

The next quarterly protection updates for Adobe Reader and Acrobat are scheduled for January 10, 2012.

To installation the update:1. Open Adobe Acrobat (Reader).2. click assist > examine for Updates.three. If an update is obtainable, click the download button.4. When the download is achieved, click the installation button.5. When the installation is completed, ensure that any applications are closed. click on the Restart Now button (when prompted).

For extra assistance

http://www.adobe.com/support/security/bulletins/apsb11-30.html (Adobe Reader and Acrobat)

if in case you maintain questions or want assistance, gratify contact the ITS assist Desk at 956-8883, e mail help@hawaii.edu or title (800) 558-2669 toll free from the neighbor islands.


9A0-901 shimmer Lite 1.1 Mobile Developer(R) Certification

Study pilot Prepared by Killexams.com ADOBE Dumps Experts


Killexams.com 9A0-901 Dumps and true Questions

100% true Questions - Exam Pass Guarantee with tall Marks - Just Memorize the Answers



9A0-901 exam Dumps Source : Flash Lite 1.1 Mobile Developer(R) Certification

Test Code : 9A0-901
Test title : Flash Lite 1.1 Mobile Developer(R) Certification
Vendor title : ADOBE
brain dumps : 108 true Questions

Get these brain dumpss and visit holidays to situation together.
All in all, killexams.com changed into a majestic manner for me to situation together for this examination. I exceeded, but became a bit upset that now any questions about the examination maintain been one hundred% similar to what killexams.com gave me. Over 70% had been the equal and the rest changed into very comparable - Im no longer positive if this is a trustworthy issue. I managed to pass, so I assume this counts as a trustworthy result. but understand that despite killexams.com you noiseless want to examine and expend your brain.


9A0-901 true exam questions and Answers!
I wanted to maintain certification in 9A0-901 examination and i pick killexams.com question and respond for it. the entire lot is brilliantly arranged with killexams.com I used it for subjects love facts accumulating and needs in 9A0-901 exam and that i were given 89 score attempting any of the question and it took me almost an hour and 20 minutes. massive pass to killexams.


real exam questions of 9A0-901 exam are Awesome!
Your question monetary institution is want of the hour. Ive were given 89.1% inside the 9A0-901 examination. Super needs to your specialists. Thanks group. So extremely joyful to simple this examination. Your gaze at fabric was extraordinarily useful, clear, consise, protecting entire material and suberb stacking of questions to do one strong guidance. Thank you over again to you and your crew.


just attempt these today's dumps and success is yours.
Its a completely profitable platform for operating experts love us to drill the query monetary institution anywhere. im very an nasty lot grateful to you people for creating such a terrific exercise questions which changed into very profitable to me within the final days of examinations. ive secured 88% marks in 9A0-901 exam and the revision exercise exams helped me loads. My feeling is that gratify enlarge an android app in order that humans love us can drill the checks whilst travelling also.


where can i down load 9A0-901 trendy dumps?
To accept organized for 9A0-901 exercise examination requires a entire lot of tough paintings and time. Time control is one of these complextrouble, that can be hardly ever resolved. But killexams.Com certification has honestly resolved this hassle from its root stage, with the useful resource of imparting style of time schedules, simply so it is straightforward to effects entire his syllabus for 9A0-901 practiceexamination. Killexams.Com certification gives any the instructional guides which might be faultfinding for 9A0-901 exerciseexamination. So I maintain to mention with out dropping a while, launch your schooling underneath killexams.Com certifications to accept a immoderate rating in 9A0-901 exercise exam, and do your self taste on the top of this international of information.


Observed maximum 9A0-901 Questions in dumps that I prepared.
The precise answers were now not hard to recall. My information of emulating the killexams.Com brain dumps turned into genuinely attractive, as I made any proper replies within the examination 9A0-901. A majestic deal preferred to the killexams.Com for the help. I advantageously took the examination readiness inner 12 days. The presentation style of this aide emerge as simple without any lengthened solutions or knotty clarifications. A number of the subject which are so tough and hard as well are educate so particularly.


Did you tried this wonderful source latest actual exam questions.
My brother saden me telling me that I wasnt going to evanesce through the 9A0-901 exam. I be sensible after I gaze outdoor the window, such a lot of one of a kindhearted humans need to be seen and heard from and they simply want the attention people however i can repeat you that they students can accept this attention while they pass their 9A0-901 capture a gaze at and i will inform you how I cleared my 9A0-901 capture a gaze at it turned into simplest when I were given my maintain a gaze at questions from killexams.com which gave me the hope in my eyes collectively for any time.


it's miles outstanding to maintain 9A0-901 actual test questions.
The killexams.com Questions & Answers made me productive enough to split this exam. I endeavored 90/95 questions in due time and passed effectively. I never considered passing. Much obliged killexams.com for assist me in passing the 9A0-901. With a plenary time work and an official degree readiness side by side made me greatly occupied to equip myself for the 9A0-901 exam. By one means or another I came to assume about killexams.


It is majestic benchmark to prepare 9A0-901 exam with dumps.
I looked for the dumps which meet my precise desires at the 9A0-901 exam prep. The killexams.Com dumps actually knocked out any my doubts in a quick time. First time in my profession, I in reality attend the 9A0-901 examination with best one training material and be successful with a high-quality score. Im surely happy, but the intuition imright here to congratulate you at the remarkable assist you supplied inside the form of capture a gaze at cloth.


thrilled to pay attention that trendy dumps cutting-edge 9A0-901 exam are available prerogative here.
Killexams.Com questions and answers helped me to recognize what precisely is predicted in the exam 9A0-901. I organized properly inside 10 days of instruction and finished any of the questions of exam in 80 mins. It incorporate the subjects similar to examination factor of view and makes you memorize any of the topics without hardship and correctly. It besides helped me to recognize a pass to control the time to complete the examination before time. It is best method.


Obviously it is hard assignment to pick solid certification questions/answers assets concerning review, reputation and validity since individuals accept sham because of picking incorrectly benefit. Killexams.com ensure to serve its customers best to its assets concerning exam dumps update and validity. The vast majority of other's sham report objection customers approach to us for the brain dumps and pass their exams cheerfully and effectively. They never trade off on their review, reputation and character because killexams review, killexams reputation and killexams customer certainty is vital to us. Uniquely they deal with killexams.com review, killexams.com reputation, killexams.com sham report grievance, killexams.com trust, killexams.com validity, killexams.com report and killexams.com scam. In the event that you discern any incorrect report posted by their rivals with the title killexams sham report grievance web, killexams.com sham report, killexams.com scam, killexams.com dissension or something love this, simply recall there are constantly terrible individuals harming reputation of trustworthy administrations because of their advantages. There are a majestic many fulfilled clients that pass their exams utilizing killexams.com brain dumps, killexams PDF questions, killexams hone questions, killexams exam simulator. Visit Killexams.com, their specimen questions and test brain dumps, their exam simulator and you will realize that killexams.com is the best brain dumps site.


Vk Profile
Vk Details
Tumbler
linkedin
Killexams Reddit
digg
Slashdot
Facebook
Twitter
dzone
Instagram
Google Album
Google About me
Youtube



QQ0-400 drill questions | 000-330 exam prep | 920-196 test prep | HP2-N44 dumps questions | 000-815 test prep | HP0-095 questions and answers | CSQA cram | 000-443 braindumps | MD0-251 braindumps | 1Z0-986 brain dumps | 1Z0-339 true questions | 650-296 drill test | FCESP true questions | P6040-025 drill test | 000-030 questions answers | A00-211 examcollection | 1D0-61C free pdf download | 000-585 bootcamp | CLOUDF true questions | 050-733 test questions |


9A0-901 exam questions | 9A0-901 free pdf | 9A0-901 pdf download | 9A0-901 test questions | 9A0-901 real questions | 9A0-901 practice questions

Retain these 9A0-901 dumps and enlist for the test
killexams.com provide latest and updated drill Test with Actual Exam Questions and Answers for modern syllabus of ADOBE 9A0-901 Exam. drill their true Questions and Answers to improve your lore and pass your exam with tall Marks. They assure your success in the Test Center, covering every one of the references of exam and construct your lore of the 9A0-901 exam. Pass past any doubt with their braindumps.

ADOBE 9A0-901 exam has given another bearing to the IT enterprise. It is presently needed to certify because of the qualification that prompts a brighter future. be that because it will, you wish to situation majestic pains in ADOBE shimmer Lite 1.1 Mobile Developer(R) Certification test, in elegant of the actual fact that there will be no shun out of poring over. killexams.com maintain created your swish, currently your test preparing for 9A0-901 shimmer Lite 1.1 Mobile Developer(R) Certification is not fierce from now on. Click http://killexams.com/pass4sure/exam-detail/9A0-901 killexams.com Discount Coupons and Promo Codes are as under; WC2017 : 60% Discount Coupon for any exams on website PROF17 : 10% Discount Coupon for Orders additional than $69 DEAL17 : 15% Discount Coupon for Orders additional than $99 SEPSPECIAL : 10% Special Discount Coupon for any Orders As, the killexams.com will be a stable and dependable qualification furnishes 9A0-901 exam questions with 100 percent pass guarantee. you wish to hone questions for a minimum of someday at any impregnate to attain well within the test. Your true expertise to success in 9A0-901 exam, sure enough starts offevolved with killexams.com test questions that's the astonishing and examined wellspring of your focused on perform.

killexams.com enables an expansive number of candidates to pass the exams and accept their certification. They maintain countless surveys. Their dumps are strong, direct, updated and of really best character to overcome the difficulties of any IT certifications. killexams.com exam dumps are latest updated in exceedingly clobber path on universal commence and material is released every so often. Latest killexams.com dumps are open in testing centers with whom they are keeping up their relationship to accept latest material.

killexams.com ADOBE Certification study guides are setup by IT specialists. Clusters of understudies maintain been whimpering that an over the top number of questions in such a faultfinding number of preparing exams and study help, and they are as of late can not stand to deal with the cost of any more. Seeing killexams.com pros work out this expansive version while noiseless certification that any the learning is anchored after significant research and exam. Everything is to do console for hopefuls on their road to certification.

We maintain Tested and Approved 9A0-901 Exams. killexams.com gives the most actual and latest IT exam materials which for any intents and purposes accommodate any data centers. With the pilot of their 9A0-901 muse materials, you don't need to dissipate your shot on scrutinizing reference books and just need to consume 10-20 hours to expert their 9A0-901 true questions and answers. Whats more, they outfit you with PDF Version and Software Version exam questions and answers. For Software Version materials, Its offered to give the competitors reenact the ADOBE 9A0-901 exam in a true situation.

We give free updates. Inside authenticity period, if 9A0-901 brain dumps that you maintain acquired updated, they will recommend you by email to download latest variation of brain dumps. In case you don't pass your ADOBE shimmer Lite 1.1 Mobile Developer(R) Certification exam, They will give you plenary refund. You need to send the filtered copy of your 9A0-901 exam report card to us. Resulting to asserting, they will quickly give you plenary REFUND.

killexams.com Huge Discount Coupons and Promo Codes are as under;
WC2017: 60% Discount Coupon for any exams on website
PROF17: 10% Discount Coupon for Orders greater than $69
DEAL17: 15% Discount Coupon for Orders greater than $99
OCTSPECIAL: 10% Special Discount Coupon for any Orders


If you prepare for the ADOBE 9A0-901 exam using their testing engine. It is definitely not hard to win for any certifications in the first attempt. You don't need to deal with any dumps or any free deluge/rapidshare any stuff. They tender free demo of each IT Certification Dumps. You can capture a gander at the interface, question character and convenience of their preparation exams before you buy.

9A0-901 Practice Test | 9A0-901 examcollection | 9A0-901 VCE | 9A0-901 study guide | 9A0-901 practice exam | 9A0-901 cram


Killexams 000-664 brain dumps | Killexams NET drill questions | Killexams 9A0-067 free pdf | Killexams E20-555 pdf download | Killexams 1Z0-342 free pdf download | Killexams MA0-103 exam prep | Killexams NS0-510 study guide | Killexams 9L0-401 true questions | Killexams 9E0-851 drill test | Killexams F50-536 drill test | Killexams 000-415 drill Test | Killexams 1T6-323 questions answers | Killexams HP0-919 braindumps | Killexams HP2-B44 free pdf | Killexams P2090-054 mock exam | Killexams 190-702 questions and answers | Killexams BH0-010 braindumps | Killexams C5050-285 cheat sheets | Killexams ICDL-ACCESS dump | Killexams 090-091 examcollection |


Exam Simulator : Pass4sure 9A0-901 VCE Exam Simulator

View Complete list of Killexams.com Brain dumps


Killexams M2010-701 dumps | Killexams CQA test questions | Killexams BCB-Analyst brain dumps | Killexams A00-205 free pdf | Killexams A2010-654 study guide | Killexams GD0-110 bootcamp | Killexams MB2-713 drill questions | Killexams 1Z0-325 questions and answers | Killexams P2020-079 true questions | Killexams HP0-J73 questions and answers | Killexams 77-886 mock exam | Killexams C2150-200 questions answers | Killexams 650-256 drill exam | Killexams M8010-246 drill Test | Killexams 700-105 pdf download | Killexams CFRN dump | Killexams LOT-956 study guide | Killexams 156-315 cheat sheets | Killexams C2040-988 braindumps | Killexams 9A0-128 test prep |


Flash Lite 1.1 Mobile Developer(R) Certification

Pass 4 sure 9A0-901 dumps | Killexams.com 9A0-901 true questions | http://www.jeepmansoffroad.com/

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

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

Executives

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

Analysts

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 title 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 do 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 discern in front of this company, especially with the addition of Cavium. I'm besides very pleased to discern a lot of close faces in the audience, so thank you everyone for taking time out of your assiduous schedules and spending today morning with the Marvell team.

As you can see, they maintain 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 prerogative word to expend in describing Tom's style. Jean will deliver the money slides, followed by a brain dumpsmp;A session which will discontinuance the event.

Now, before they start, I achieve need to capture you through their very exciting monetary safety briefing. This presentation today will accommodate unavoidable forward-looking statements which achieve maintain risks and uncertainties. They characterize these in their filings with the SEC. They will besides be mentioning unavoidable non-GAAP monetary measures, a reconciliation is at the discontinuance of this presentation, and this presentation will be available on their Web site after today's event.

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

[VIDEO STARTS]

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 sole car can learn how to drive safely, then partake it with 10 million others. And soon, highly intellectual 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 support it flowing, the datacenter needs to support morphing, so much so that you can't repeat 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 maintain 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, providential entire computing systems on to a sole microchip, increased storage density so companies can meet tomorrow's demands, not be surprised by them, and discovered ways to support data flowing swiftly and securely, through cables or through the air. The modern Marvell has its sights on tomorrow, not just to unearth what's next, but to do it available today.

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

[VIDEO ENDS]

Matt Murphy

Okay. trustworthy morning, everybody. It's majestic to discern any 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 assume 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 be processed and actioned. And Marvell is enabling the infrastructure that makes any of this possible. So today I'm going to talk about the kindhearted 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 repeat you how we're going to grow, which I'm sure is on everybody's minds here today.

So first, let me note you how far we've approach from their eventual investor day, which was just six quarters ago, here in this room. So let me capture 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 birth Marvell's turnaround. We'd assembled a modern leadership team which they introduced everybody, and they told their story. And that epic started with the market opportunity, which was really fueled by the explosion of data and the need 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 besides shared their plans at that time how they were going to refocus the company to build a long-term sustainable commerce that could deliver wholesome margins, cash flow; any the things that you hope from a top-tier semiconductor company. And I assume at that time they caught some of you off guard with their transparency. I recall during the brain dumpsmp;A, I assume it was Chris Roland, who I assume is in the leeway here, who said, "I'm noiseless trying to pattern out what company this is. I discern the logo behind you, it says Marvell, so I guess I will just evanesce with that." So they did set some very tall expectation for ourselves in that meeting. And I'm elated to report that the team has done a majestic 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 discern that revenue since that time has been up into the right. They besides said at that time that they would achieve indecent margins exceeding 60% exiting their fiscal '20. Really pleased that subsequent to the analyst day they managed to enlarge their indecent margins every quarter. In the eventual 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 eventual one they reported as a standalone company, they besides exceeded 30% OM, which was about six quarters ahead of schedule.

So these were majestic results. We're very supercilious of them. But they did not occur by accident. So let me talk now about how they elope 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 prerogative 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 any of their businesses in the combined company. We've done three of these now since I've joined. The eventual one, more recently, was with Cavium. And so we've gone through now every commerce 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 indecent 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 besides not unafraid to halt projects or redirect resources or reallocate their precious R&D dollars where they maintain to. We're very disciplined in this front. They besides believe that time-to-market is a differentiator in their industry. So, their customers, they map their schedules around their gear around their schedules. They're any one and the same. And so we've completely retooled inside the company how they map 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 besides believe in a very data-driven approach to commerce management. And they expend data to elope any 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, considerate effort. And they discern the profit of this ilk of approach on the modern Cavium team coming in.

Part of the turnaround besides 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 elope the company. Integrity, respect, innovation, execution, supporting each other, these are any 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 eventual two years. And recently they made the Forbes Best Employers list in 2018. So they believe culture is a competitive advantage. The employees discern the tremendous picture, they understand their role, they'll buy in and they'll fully relegate 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 any took time to accept offsite and accept to know each other and align on their goals. And by the discontinuance of that offsite, you couldn't repeat who was a Cavium leader and who was a Marvell leader; we've any 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 be more supercilious to scoot forward with such a talented team that we've assembled. And they set their mission to be 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 notable to maintain a mission that is simple to understand. Everyone can accept behind it whether it's an employee, whether it's one of their customers, or everybody in the room.

So let's capture a flash to talk about why they love infrastructure; why is this a trustworthy market to be in? I assume it's an attractive long-term market where their IP can deliver true 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 simple to understand. But I'm telling you, as posthaste as success comes in this market as posthaste as it can evanesce 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 commerce to be in. And they are fortunate at Marvell to maintain the luxury to participate in the infrastructure market. This is one where they don't just maintain to re-win designs every year to breakeven and linger on the treadmill. The design cycles and infrastructure are typically three to five years. So there is a long cycle of progress and partnership with your customers. You don't need 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 sphere for 10 years or more. So, when customers gaze at who they are going to ally with and design in, there's really only a handful select group of players that really maintain any 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. besides the company's DNA is very well aligned to the infrastructure market. They maintain a strong combination of IP and engineering capabilities in the company. They maintain a 20-year track record in Ethernet, both in switches and in PHYs. They maintain abysmal taste with processor cores. And they maintain in-house IP progress such as SerDes and others that they control their own destiny on.

Finally with Cavium, they bring in a very compelling software, plenary platform that they can leverage across multiple product lines and really add a lot more value and stickiness to their customers. And finally, they maintain managed to assemble on this combine company really what I can affirm is the world's most talented team of fuse signal engineers and digital engineers designing SOCs. These chips are not simple to make. There's only a few companies that possess this ilk of capability. And we've been a top innovator in their field. They maintain been named for the eventual 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 illustration of the kindhearted of capability that they have. So on their eventual Investor Day they said they were pivoting the infrastructure and that it would be a journey. A few years back, they were about 25% of the company's revenue with an infrastructure of 75% was in things love consumer and mobile.

At the eventual Analyst Day, they were at about one-third of their revenue was levered infrastructure. And they said their goal was to accept it to 50% in the near-term. And so, they were able to achieve that actually a exiguous bit ahead of schedule through any the work that they situation 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 discern over time that this number is probably going to be much higher and next goal is sort of three quarters, and to support 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 commerce and the opportunities there. They got very valuable technologies from Cavium, leadership now in processors, leadership in security, leadership in accelerators. And so, they besides brought a very strong 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 progress 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 affirm from the customer point of view, the even of appointment that we've seen since they closed the transaction has been significantly higher than before either company had ever experienced. I express quite frankly disburse a lot of time on the road. I maintain personally met with the chief decision makers and CEOs and CxOs of the top infrastructure companies in the world across any of their segments.

I maintain been assiduous and I'll just give you one illustration of a story. Three weeks ago, Raghib and I were - had the haphazard 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 achieve multiple chips for this particular company and this would be a relatively a modern 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 commerce for us, I said, Look, I just got to ask, you guys maintain gotten to this point on your own as a standalone company? And he said, "Well, achieve you want me to give you the politically reform answer, or the true answer?"

So just give me the true 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 any the capabilities." And so that opportunity now is one of many and you'll some more stories love this today of the power of this combination how that's really translating into significant modern opportunities because they are seen in a much different light now by their customers. And why achieve they like? I express what achieve they discern when they gaze at the Marvell portfolio that's combined, what they discern is a leader, a leader in key technologies, in storage, networking, security, processors, connectivity. These are any the key elemental structure blocks of what infrastructure companies are looking for. And it's not even that they maintain a exiguous piece partake here or there or a piece of IP.

We actually maintain 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 election for their customers. The combination besides with Cavium really creates a much more diverse company, which I assume 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 snitch Tom's thunder, which you are going to hear more from him about the modern customers that they maintain added and how actually while there is some overlap, there's a lot of incremental customers that they maintain that Cavium didn't maintain and vice versa. They besides now are a much stronger and a broader array of discontinuance markets.

As I mentioned, they really accept a much stronger presence from Cavium now in datacenter and in carrier. But the breath of the commerce has besides increased too. And if I evanesce back to when I joined the company, I express probably the sole 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 evanesce 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 pains 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 maintain 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 hope that that number is going to dwindle as they head into the next year and the year after as they grow their commerce and continue their pivot from consumer computing to cloud and infrastructure. I don't assume that this pains that they situation in has been widely understood by investors. So I wanted to do sure I called this out because I assume 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 Interesting is their businesses are quite diverse now. So, first, they maintain established businesses in their company. This is really how they elope their company and how they segment their businesses with inside their portfolio. So the first is they maintain established foundational businesses. These are businesses where they are the leader today. Two examples of these would be 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 maintain a number of growth businesses where either they are the leader or they are a very strong challenger. And examples of these include embedded processors, switches and PHYs, flash-based storage, SSD, and tall performance Wi-Fi. Now these products are any in growing markets where they maintain 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 be the market leader in their respective segment.

And then, finally, they besides maintain several areas of strategic investment. These are modern bets that they are making. And these include automotive -- you are not going to hear about these today, these include automotive Ethernet, these include security solutions for the cloud, which they convoke Liquid Security, which is a technology they got from Cavium, and besides this includes their server processor investment based on ARM. So these businesses typically they leverage IP they maintain already got inside the company, but they leverage them into adjacent markets, so they accept 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 do sure that they define the product correctly. They invest in these businesses carefully. They track them. They milestone them, and they do sure that they are resourced properly to win. And so, when you step back, and you gaze at the portfolio of businesses they maintain inside the company, it's quite broad and it's quite diversified from an investment profile, and they assume the combination of any these will result in profitable long-term growth with potential upside on the modern bets.

So, another notable consideration for the combination was scale, and I assume 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 scoot to more and more advanced process nodes, and obviously you are doing it to enlarge performance, lower power, optimize dye sizes, any kinds of benefits of making these node jumps, but they are getting more and more daunting by the day. I assume this is a reality facing pretty much every company if you going to be 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 assume that you probably need to develop about half a dozen chips or so at a minimum in a key process technology, just to maintain spread the investment appropriately across any those devices. And so, if you don't maintain enough scale, if you don't maintain enough of a broad product line and you can't achieve a significant number of modern products on a node, to accept your money back is going to be 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 maintain really had kindhearted of two choices when they - tremendous systems companies, right, tremendous infrastructure companies, when they resolve to -- that they need a key semiconductor component. One is they either want to buildup themselves, what they convoke the plenary ASIC model, or you evanesce 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 be 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 do this work, and obviously it's difficult to achieve that many ICs if you are a sole OEM. And so, that's a challenge for these companies today.

So they discern a third commerce model actually gaining favor. This is a model that Marvell has had for sometime, but they discern it applying not just in their storage commerce where it's traditionally set, but besides across actually other discontinuance markets. And this ally model is -- let me account for a exiguous bit more, is really the value proposition, look, everything in the gray that you discern is IP that they are already developing today to spread across any the chips that they do, whether it's the CPU core, a reminiscence controller, SerDes, any of these different blocks, they are developing these because they are going to expend them primarily across any of their products. If you are a system OEM, you are just doing one ASIC, you maintain got to evanesce either develop any this yourself or license it, it's very expensive and costly and it's time-consuming. And so, this model really allows us to achieve 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 situation in situation in their storage commerce both in the HDD side and in enterprise SSD, it's been a situation for about 15 years, it's been highly successful, because the customers are able to leverage and profit from any the work that they are doing, that's common across the entire company. And so, the profit to the customer is obviously they accept proven battle-tested IP that's been in the market, to accept 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 maintain to achieve the entire product. So it's really a win-win for both companies. And they discern this is being a very compelling model especially as they maintain combined.

Okay, so let me scoot to the second partake of my talk today. So, probably I'm saying, "Okay, this is great, looks nice, it looks love you are structure a nice company here. Everything sounds exciting. How are you going to grow?" I assume that's the question that's on everybody's intelligence today, "How are you going to grow?" So, Dan and Raghib are going to evanesce 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 strong discontinuance market tailwind. The first thing, they can evanesce back to the eventual Analyst Day, is that there is an explosion of data that's being created and that besides needs to be 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 accept processed, secured, and analyzed at the edge. And a lot of these applications now, they achieve profit from real-time decision-making where the data is occurring. And so, more and more they discern this tug 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 maintain to maintain a holistic security strategy to secure the entire data chain. And again, this is one where I assume they can provide significant expertise here to provide robust security any the pass from the datacenter, any the pass to the edge through every point in the network. And finally, any of this has a major repercussion on overall power efficiency. It's probably one of the biggest cause 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 gaze at any of these combines, there are multiple tailwinds that are in their favor. And so, with that at their back, they assume there are several very unique opportunities where they can do an repercussion given that these market changes are happening, that are very specific to Marvell.

The first is in storage. So, any this data, as I mentioned, it needs to be stored somewhere, whether it's on icy storage, in the cloud on hard disks, or it's keen tangy storage on advanced shimmer reminiscence technologies. And so, their customers are looking for ways that they could achieve this more economically and they could achieve it faster. And so, as the leader in storage technology, they are in the middle of any 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 maintain unique insight and ability to actually influence and repercussion any of these tremendous disruptions that are going on in the storage industry.

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

The third one is in the carrier market. And this may surprise you, but Marvell is going to be one of the most notable 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 maintain very, very strong traction in this market, very unique solutions, and to be clear, they assume that 5G is going to be 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 maintain emerging opportunities. These are some of their modern bets that they assume provide strong 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 trustworthy progress there. And besides 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 maintain tried. But there's actually no company that's been able to interject and capture to production a CPU with this even 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 be a growth driver for us as well that's emerging. And each of these products is off to a majestic start. And I assume when you layer any 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 eventual 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 affirm the evolution has been -- they assume 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 opportunity they assume is pretty big. It's going to enlarge their SAM today. And besides 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 shatter the $18 billion down, $3.5 billion today is in storage. This is a commerce where we're the leader today; they maintain almost half of this market. This is a stable business. It's profitable, it's growing modestly. But they maintain strong partake and a strong position, and opportunity 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 achieve maintain a strong position here as well, but they hope to gain partake 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 besides investing in ARM server, and they decided to shatter this out to be super transparent about where the drivers of their SAM are coming from. This is one where they discern the addressable portion of the ARM server market today, at about $4 billion. That SAM they assume is growing very fast, by about 14% a year. And so when you add that opportunity on top, which again is modern and emerging, total company SAM goes from about $18 billion to immediate to $24 billion over the next few years. So there's a significant opportunity if you gaze at the evolution of where they were, affirm at eventual analyst day looking at an $8 billion opportunity, to now just a pair of years from now being able to address something love $24 billion of market. So you could discern 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 be a leader in the infrastructure market. They maintain the scale, they maintain a diversified commerce 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 illustration is 5G that you'll hear about. I'm besides especially supercilious that their team has consistently delivered and established a strong track record of execution that's going to be very notable as they head into their next angle of growth. And so look, in short, with the team we've got, markets that they are going after, strong customer pull; I strongly believe that Marvell is going to drive ourselves forward. Their goal is to create a majestic company with majestic technology to enable the infrastructure of the future.

Thank you very much. Dan?

Dan Christman

All right. Thank you, Matt. any right, so I'll interject 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 opportunity in front of us as well as innovation and how they are targeting their investments. And most, importantly, I assume their pivot to datacenter, infrastructure and really as a solutions-based storage company.

So, Marvell is the leader in storage and they actually maintain significant partake here. As Matt mentioned almost 50% of the market is a market partake now for Marvell. We're investing in leadership which for their storage primarily means datacenter. They maintain thought leadership. They maintain a company that only has 20 years plus in storage can provide to the market that allows us to innovate, bring modern 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 exiguous bit about this. As you combine Marvell's classic storage commerce of HDDs and SSDs along with Cavium's now fiber channel business, you actually accept the largest and broadest portfolio of storage solutions in the industry.

Fiber channel is over a $500 million in opportunity 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 tall volume this year preamplifiers. Their shimmer solutions business, which includes their SSD controllers, is a $1.1 billion opportunity today and it's growing fast.

Marvell is number one in merchant SSD controllers. And now they are poignant beyond controllers. They are providing innovative modern 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 shatter down a little, you will discern the PC space is shrinking at about 5%. They discern this is an district that's harder to differentiate, is less innovation, is less need for modern 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 opportunity is no surprise 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 gaze at their revenue here. So if you gaze at the classic Marvell storage revenue, which again was HDD and SSD, you can discern a pair years ago almost half their revenue was coming from PCs. And you fast-forward it today and you'll discern a much more balanced portfolio in the storage commerce for Marvell. But a pair of years out looking just at classic Marvell, you discern the PC drops below quarter of their revenue while the Edge and other remains very stable across any three of these snapshots in time. The datacenter becomes very meaningful for Marvell. It actually becomes their largest segment in just a pair of years. When roll in the fiber channel commerce from Cavium and you discern that Marvell has become a actual 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 partake leader with strong incumbency. They are the preferred supplier for leading OEMs and Fortune 1000 companies, and due to the faultfinding and the sensitive nature of the data that gets moved in security onto fiber channel infrastructure, they discern this is a very stable market with longevity. And the fact is that Marvell is noiseless innovating here, prerogative we're helping extend their leadership through areas such as in-line security and NVMe over fiber channel and this is what customers faith about.

Now, there is no surprise, I assume everyone here in this leeway understands that the HDD is going through a secular decline, prerogative if you gaze at units this is about a 10% a year unit decline in the market but due to the benign 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 exiguous deeper, you discern 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 gaze in fact at both desktop and notebook both markets are declining in the mid-20s. But when your scoot PCs, you discern the stable piece underneath which is actually relatively flat and if you dig in deeper, there you discern really what Marvell's focused on which is a near line segment in hard disk drives, these are the icy storage drives in the datacenter where they manage tremendous Data, if you capture a photo about a week later, it's probably on multiple icy storage HDD drives and in the datacenter.

In fact in calendar year 21 about 40% in the entire HDD market will be in the near line segment, this is where cost per gigabyte matters and without hard disk drives in a datacenter they would not be 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 any the notable aspects that do these drives work.

If you gaze at the aerial density increases that really drive the capacity, you gaze at modern technologies, they talk about energy assist eventual time they hear, HAMR, MAMR, Dual Actuator, multi-actuator, these any capture investment, they capture a ally that understands how to achieve 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 besides talked about in the birth the fact we're going to be 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 slide not incremental but because Marvell has a strong position in the HDD controller space, we're getting extremely strong tug 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 gaze 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 evanesce from two to three to four to up to 10 platters per system, you evanesce 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 besides develop modern technologies, the controller in the preamplifier maintain to communicate together to control these modern technologies, you maintain to control the energy elements within the system with the preamplifier.

So these are modern opportunities for Marvell, they add more value and accept more content in these modern hard drives and what I'm supercilious to affirm 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 hope this to be 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 note here the fact is that the notebook exposure is decreasing meaningfully in the HDD space for us, it'll be less than 15% in a pair of years.

Our investment in datacenter is clearly paying off as you can discern 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 effect better than the overall market.

So let's scoot on to shimmer solutions. Now FMS which is a very notorious note for the shimmer industry, it's shimmer reminiscence Summit, it's held in Santa Clara every year, it was eventual 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 gaze we're more than an SSD controller company. Right, they are a shimmer solutions company, we're focused on effectively or more efficiently managing the shimmer based storage systems, this evolutions been driven by their ability to leverage the broader Marvell IP to enable modern form factors for their customers, modern commerce 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 shimmer storage, if you assume about it really started off as an HDD replacement, in the PC space people basically took a two and a half inch hard drive out, they swapped in a two and a half inch SSD drive, identical form factor, identical interfaces, they went on to modern form factors, they affirm gaze they don't know necessarily maintain to beholding to this HDD form factor, they can optimize for their PC. So they situation modern form factors in that were smaller and more space efficient, they did modern interfaces love NVMe which took odds of the actual shimmer and optimize the performance and after PCs went through this, the datacenters went through the exact identical cycle of replacement.

But now they're looking for more, they're looking for modern architectures, they're looking for modern commerce models, they're looking for a platform based solutions. From a commerce model in an architectural standpoint, I want to talk about this achieve it yourself model, they did talk about it exiguous bit eventual year but I want to talk more about it today, this is an opportunity that when you shake off the limits of a hard disk drive, the mechanical limits of the form factor limits and you affirm gaze I'm just focused on shimmer memory, you really can now optimize, you can optimize for space and power, you can optimize for workloads, you can situation the controller directly on your board or build an OEM and modern form factor. This is really enabled by the fact that the customers can buy a controller from a company love Marvell directly.

They can source their NAND from multiple tall character 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 maintain strong and long lasting relationships with any of the Tier 1 NAND vendors. They any 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 discern this is additional opportunity for Marvell, you can gaze at the architecture can be changed. And this is basically more content and more value opportunity for Marvel in this space that this started in a datacenter but we've seen it scoot beyond a datacenter now in Marvell's one designs already here you'll start to discern revenue over the next pair years here it's already a next year because it's kindhearted 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 slide first for you, you discern 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 modern content for Marvell. I'm going to verse illustration here this is an aggregator. Now their customers are looking to add more and more capacity as they add more capacity and they evanesce beyond PC centric form factors to datacenter centric form factors. The limitations start to become the SSD controller. The controllers can only ply 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 interject modern aggregator, NVMe aggregator chips that basically even capture in seamlessly stitched together multiple controllers or multiple SSD drives and present them as a single, tall capacity, tall performance drive enabling modern form factors in a datacenter. In the second illustration you hear a lot about Microsoft Project anally, open channel it's really about more efficiently managing the shimmer storage at a even above the drives which means are putting management kindhearted of at the host. I know when you gaze at doing that you affirm well achieve I want to situation that on my CPU and dissipate those cycles I could be renting out and the respond is always No.

And I assume a Rag will talk about accelerators later but here they maintain storage accelerators. And these accelerators basically will achieve functions love compression, redundancy, security, IO virtualization and multi tenant systems and offload the CPU to assist more efficiently manage the shimmer storage, it allow that cloud datacenter customers to rent out those CPU cycles. The eventual illustration here is a revolutionary architecture that they actually announced to at shimmer reminiscence peak is an ether net bunch of shimmer they convoke it the eve off.

And this is an end-to-end chipset for Marvell that includes their controllers, it includes their NVMe converters and besides pulls in content from their networking group on the Ethernet switch side, if you gaze at traditional server based storage in a datacenter when you want to add more storage you maintain to add more compute they evanesce together, prerogative in the Eve off even essentially this aggregated these, are you able to scale up your shimmer storage independently creating a tall performance rack of flash. Now this is connected over the Ethernet so it looks love its local, if you gaze at latency is in performance it appears to be 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 nasty lot of interest in this modern architecture. So the opportunity in the shimmer market for Marvell is huge prerogative if you gaze at their classic controller commerce 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 modern features and architectures. This modern Sam on top here is actually growing faster than the overall controller commerce so they discontinuance up with a 19% total CAGER for a shimmer 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 maintain some commerce here already it's relatively minute but it's growing and going forward they talk about their SSD commerce will really start talking about their shimmer solutions commerce with SSD as partake of that commerce so you can discern here how this any comes together. They recognize the opportunity in datacenter early. They aligned their R&D resources towards the datacenter. As they continue to execute on this pivot to be a provider of optimized solutions for the datacenter, you can discern 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 pair years from now it'll be 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 any 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 modern and exciting innovative architectures to assist 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 even growth. Thank you very much.

Raghib Hussain

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

Ashish Saran

Hey, folks. We're going to accept started, so if everybody can capture their seats. any right, so we're going to accept the program going again. And it's my gratify to interject Raghib Hussain, who will capture you through their networking business. Raghib?

Raghib Hussain

Welcome everyone. It's trustworthy to discern so many close faces and the modern ones too. It has been a assiduous year, plenary of excitement and a lot of potentials. I'm very excited to be partake of this modern combined company. And I'm fully committed to capture it to majestic success. Let me repeat 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 maintain 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 partake any those detail with you today. But to launch with, they are strong in enterprise, and growing. They are very well positioned to be 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 gaze forward, let's start by taking a gaze 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 be processed to generate value.

Now, Interesting 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, convoke 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 faultfinding 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 be processed instantaneously for car to do faultfinding decision, love it has to apply the breaks. Now imagine if any these data was conjectural to evanesce to some central cloud for processing, it would maintain been disastrous situation. So the network is morphing out of necessity and it is becoming more and more distributed. In other words, they will maintain datacenter not only in the cloud but besides in the enterprise, in the carrier, and besides at many of the edge devices. So if you really gaze at it data has got gravity. So instead of pulling data towards the compute, data is pulling compute towards itself. any these trends are massive opportunity for Marvell.

And not only compute has to scoot towards data, it has to be efficient and optimized for the real-time application. It means that they need tall performance compute and efficient processing at every node of the network, from datacenter to carrier to edge. And at each node they maintain 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 be implemented at every node of the network. any 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 maintain a complete portfolio of processors ranging from baseband processor, to security processor, to multi-core universal purpose processor, as well as any the pass to ARM-based server processors. They maintain complete Ethernet networking solution, from switches to PHYs, to NIC adaptors. And they maintain 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 any 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 accept the most out of this data economy. If you gaze at these infrastructure applications they maintain a lot in common. They any need high-performance compute, they any need security, they any need tall bandwidth connectivity, and then any need low power efficiency. In many cases they are addressing the needs of these markets through a sole piece of silicon, for example, the switches, the PHYs, and the multi-core processor. In some illustration they are actually structure market-specific application-specific optimized solution using their common portfolio of IP. For example, baseband processor. In other words, these markets maintain common characteristics and they are leveraging their investments across their infrastructure markets.

Our product portfolio has a great growing addressable market. They maintain 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 maintain $4 billion SAM for ARM server processor, which is growing at a higher CAGR of about 14%. So, any in all, their SAM CAGR is 11%. Here is another view to gaze at their ground $10.5 billion SAM mapped to their target ends market. As you can see, it is fairly distributed across any 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 strong position in enterprise. It is about $2 billion market, and they maintain about 30% share. Enterprise SAM growth for us is higher than the overall market growth, and it is because we're expanding their market partake through modern design wins. eventual time, in 2017 investor day, they talk about upcoming enterprise upgrade cycle and how Marvell is positioned to support upgrade from a gigabit to a multi-gigabit driven by the bandwidth needs. As you can discern 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 hope it to continue.

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

With the combination of Cavium, now they maintain a complete product portfolio from access to aggregation to core. And that will continue to drive their partake in enterprise. Their merger brought together a complementary energy that enable us to provide complete solution for their customers. Cavium was strong in aggregation and core, and really the processors, and Marvell is strong 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 prerogative strategic ally for their customers. Their complementary customer ground is besides 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 maintain 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 besides in those discontinuance customers. So let's capture an illustration 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 decision are generally made first. Before, neither company had the complete solution. Cavium had trustworthy 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 identical 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 do their decision upfront to bring the prerogative solution. They maintain already started winning designs in this area, and there are plenty to go. This is another example, Marvell is strong in switch and PHY but they did not maintain many core processor to address the needs of aggregation and core. Now with the combined company, they maintain complete platform with a switch, and PHY and a processor and the platform solution serving the needs of their customer from access to any the pass to core.

So you can discern the combined IP and the product portfolio that Marvell and Cavium bring together uniquely position us for strong growth in enterprise. On top of that, they are in the upgrade cycle, it has just started. And they maintain the loaded product portfolio with the latest feature to support 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 scoot on to datacenter. As modern compute models are established they maintain multiple high-growth opportunities in datacenter. Cavium has had a strong presence in datacenter through security and networking services offload. It is about $2.5 billion market, and they maintain 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 any 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 any know there's a modern trend, ersatz 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 gaze at any enterprise security or network appliance, and if you open it up, you will discern 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 besides you need the similar ilk of acceleration. Marvell's Liquid Security product lines are designed and very well positioned for that market.

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

Server for datacenter is a huge opportunity. It is about $16 billion TAM, and they hope that ARM servers can address about $4 billion TAM. Marvell Thunder 2X is the first Xeon-class processor. When I affirm Xeon-class processor, it is really the dual-socket ARM server processor which has the performance as well as reminiscence bandwidth and hasten and connectivity of a really Xeon class which can be used in a universal purpose server application. They maintain 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 capture a gaze at these recent announcement by their customers, several customers maintain announced platform based on ThunderX2, and then there are several independent third-party analysts maintain 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 affirm about ThunderX2, "In short, ThunderX2 is the first SoC that is able to compete with Intel and AMD in the universal purpose server CPU market. And that is a pleasant surprise. At last, an ARM server solution that delivers." They are seeing a trustworthy traction in this market, and they hope it to be long-term growth driver for Marvell.

Now, about ersatz intelligence, they any know ersatz intelligence is the next -- is the modern gold rush out there. It works just love 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 gaze love this is a bottle, by different types of bottle, the perfume bottle, the wine bottle, and so on and so forth. So that partake of the neural network is called training and learning. And then when they discern something that gaze love a bottle their brain predicts that it is probably a bottle, that partake is called prediction or inference.

Now, training is generally done in cloud because it is a slow process, it's a batch process, it requires a lot of data and it does not need to be in the real-time. It can be, it can be done in a batch process way. However, inference, it's not only done in the application in the cloud but besides in application enterprise carrier and the edge in the edge devices. Now inference has to be done in the true time and instantaneously because this is where you're predicting, you cannot capture support the consumers waiting or user waiting for the result, right. So as a result of that, it has to be done at every application. As they any 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 be much bigger market in the overall ersatz intelligence and it has a long term growth potential. Inference requires a purpose built solution optimized for a scale and power and cost efficiency, any of these AI processing plays in the core energy of their company, they maintain a DNA of multi-core processing, hardware acceleration flowing out, engine scalable architecture. Gavin was working on AI for the eventual several years and they maintain developed some core IP and architecture.

Now what they are doing now, they are structure 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 adapt the evolving neural networks needs. And it is besides 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 maintain been working besides closely with the ecosystem, you must maintain seen news related to glow compiler initiative driven by Facebook. It is an initiative to really standardize the inference usage. They discern AI a multi-billion dollar market opportunity for us and a faultfinding duty 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 support you updated with the progress that they make. So let's capture a gaze at Edge and other related areas, the Edge and other district 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 maintain about 14% share. If you capture a gaze at any these products, Marvell has been present in any these products for many years, a major result of the data economy is that the trend that compute is poignant towards the edge, towards any devices.

As a result of that, many of these devices are becoming very sophisticated, in some cases really becoming a mini datacenter love for illustration in car. Marvell is actively engaged with any 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 be transported and moved around in the car at a posthaste pace. This requires benchmark ground tall bandwidth networking, Marvell is leading this trend, Marvel has long history in automotive industry, it is a tall barrier to entry industry.

It requires a specific character as well as supply chain requirement. Over time, they maintain 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 be moved around in the car at a gigabit hasten and car can do sense the wall around it and do a true 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 maintain included this SAM in their overall SAM and they discern it about half a billion dollar opportunity and this is growing at a posthaste pace.

Moving on to carrier, this is a majestic growth opportunity 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 be the leading silicon supplier for 5G. Carrier is a massive SAM for us, it is about $3.5 billion SAM market and they maintain about 10% partake which means they maintain a lot of leeway 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. structure on a decade of innovation in 3G and 4G, now they are established to be a strong leader in 5G, here they are positioned to disrupt the market and grow their share, I'm really excited about 5G and I discern 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 maintain any the faultfinding structure blocks but over time, they maintain established ourselves a credible supplier to deliver tall performance platform for baseband applications. This makes us a very attractive silicon ally for the carrier OEM. While today they will talk a lot about wireless and the ground station, it is notable 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 tender baseband processing in addition to transport processing.

I'm supercilious 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 maintain shipped over seven million ground station processors as of today. And now with the combined company, if you gaze at the requirements of the 5G ground station 5G deployment, it has a requirement of low latency, tall performance compute and tall performance capability of security, it any 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 tender the complete digital portion of the baseband processing. In other words, they are taking the workload, which were traditionally done in FPGA. If you gaze at the 4G ground station, in the main card they used to maintain Octeon processor and in the line card, they used to maintain three baseband processors.

Now in 5G with the key requirement, they maintain two Octeon processor in the ground main card and typical configuration of 5G has two line card and each one maintain not only a three baseband processor but besides Octeon processor. Now just love in enterprise playing through the combined portfolio, they besides maintain a switch and PHYs in this ground station application. Translating it into what they any faith about in 3G, they had a content of pair 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 maintain the content which is quadruple in 5G compared to 4G. But there's more, if you gaze at the number of OEM providers in 3G timeframe, carrier had a election to select from a great number, typically carrier select 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 election of only three OEM providers as they are engaged with any of them. So if you capture a gaze at this chart, it note 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 occur in U.S., China, Korea, Japan and India and of course the rest of the countries will result from here.

Carrier infrastructure deployment cycles are long, it's a long-term business, if you capture a gaze at let's affirm for illustration 3G it expand over a decade, the carrier are noiseless OEM are noiseless shipping ground station for 3G. 4G had a keen RAM driven by the bandwidth needs of the applications and it has had a trustworthy run. They hope 5G to maintain 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 hope 5G to be the leading growth driver for this company because they maintain proven track record and IP. They maintain position with enlarge content and they maintain broader traction with multiple OEMs, so if you want 5G in your portfolio guess what Marvell is your stock, so by now you must maintain figured out why are we, so excited about the potential of this combined company.

We are strong in enterprise and growing significantly. They are investing in the prerogative products to drive the growth in datacenter and Edge. They are well positioned to capture 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 ersatz 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 besides committed to the long term growth. Thank you very much. I'd love 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 trustworthy to discern you any again, it's been a affirm six quarters since they were eventual together. As you can discern this is a very different company. Today than even six quarters ago when you guys were eventual here Dan, Raghib, Matt talked about a broad portfolio, focus on the infrastructure market a lot of attention from customers and you're probably any sitting there going yes, expected you to affirm that today so what are the customers maintain to affirm about this and so that's why they asked me here today to kindhearted of give you the perspective from the customer side of how this acquisition is being perceived and how this modern company has being perceived.

Okay, so as you recall when I was here eventual time. It was March 2017 they were any in this leeway together it was snowing outside and I had been with the company for about three months and I told you any I said gaze in order to accept this thing on track they first order a commerce is to align the sales and marketing duty with the strategy of the company at the time, okay and I said these are the things we've got to achieve and what we've got to achieve quickly, so what it would how we've done what they achieve here, so I talked about a coverage map in the first thing I had to achieve was build a team, so I rebuilt my entire staff and then they drove that any the pass down to the bottom even probably about half the people on my staff maintain worked for me before they understand my system.

They understand what I want to achieve they understand what I value. The other half maintain not but having guys who work for me before on there maintain been a majestic 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 do the sale there are more stakeholders involved in every transaction than ever before so they actually developed relationship major cities across any the major customers they executed those major cities and we've expanded their relationships across any the major customers. They had to immaculate up the channel. So they went down to a sole global distributor they reduced any the distribution partners in the regions around the world.

We wanted to enlarge their scale with any these partners to accept more partake of mine, so they restructured the entire channel that was any 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 eventual 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 any the data and analyzing the life cycles of opportunities how these opportunities converted to revenue any that stuff work started done started then they started collecting data they worked on the historical data they had and they situation any that in place.

We did the entire instrument flow. They focused on solution selling and they really kept the organization hybrid to extend their achieve with the variable expand sales force of reps and distribution that they have. THEY talked about account penetration. They maintain maintained any of their top accounts and as a matter of fact we've grown their top accounts from the Marvell side since they were eventual here. They grew some modern 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 exiguous bit more about that later but we've got a very trustworthy account list going forward and we're continuing to work their relationship matrix and expand their relationships up and down we'll talk a exiguous bit about some of these actual meetings and a exiguous 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 efficacious manner, driving into their website, cleaning up their website adding a lot more relevant content to it any of this stuff has resulted in a lot more activity and a lot more modern customers coming to us. They basically looked at and examined their public relations and trade shows strategy making sure they got maximum revert on money spent there and they instituted quarterly reviews with the commerce units to do sure that they had a marketing cadence for modern product introductions and marketing activities every quarter so a lot of work on the marketing side.

I talked to you about commerce progress and I told you that commerce progress in my world was two things creating preference and awareness at the discontinuance customer for Marvell products and structure relationships with people in their industry that needed to that were notable to us but weren't necessarily going to buy from us and so what achieve they do, so the first thing they did was they built out their automotive BT BD duty when I was up here eventual time you guys didn't even know they had an automotive commerce within three months of being up here eventual 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 any the design activity that was happening with that product line.

We now maintain complete coverage in any 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 partake participating in structure out their service provider organization and we're cultivating a lot of strategic partners in the industry that they need in order to continue to evanesce forward, people love Nvidia with the automotive market, people love Intel they maintain strategic relationships with as they evanesce forward, so they did any 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 any 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 sure that they were going to assemble the best organization possible.

We spent time looking at any the instrument flows to do sure that they were going to capture tools the best tools from both organizations and expend them to create a best in class instrument rush for the company. And so on July whatever it was when the transaction actually close, they immediately instituted a program. Today they maintain 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 trustworthy fuse 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 accept these guys poignant quickly on selling the modern merged portfolio.

And they did a recording of any that so that EMEA and Asia at least until they can accept out there doing things in person had training as well and they could actually participate online tools and systems are merging now, will be actually introducing the merged system within literally within a pair 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 identical pay map 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 do it on a regular basis.

And then after any this was done I heard I hauled Murphy any over the world and they talked to any of the customers about this company and what they were actually doing and so how did they react. Okay, so they basically told the epic 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 structure a pragmatic taste ally that's going to capture their intellectual property portfolio and solve their problems with everything from IP based semi custom designs any the pass to benchmark 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 correspond with any of your observations in the market.

Yes, they got slides just love that yes they were besides extremely surprised by the breadth of the intellectual property and every one of them to a customer acknowledged a wish 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 structure 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 elope the risk of offending the animal rights activists in the leeway again. I showed this to you guys eventual time and I basically said gaze if you want to enmesh tremendous fish, you've got to fish where the tremendous 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 revert of expended sales and marketing money that I can deliver to the company.

We maintain to win the largest customers in their chosen markets first, the rest are going to result 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 maintain actually built the company the customers love and want to achieve commerce with. So where are these tremendous fish, who are they what are they doing so prerogative 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 pass into that top 10 over the next pair years.

All the top accounts are direct but we're noiseless investing in the channel, things love putting deploying an FAE certification program this past year even one even two, so that FA's are tested literally given a written test basic lore even one, basic advanced lore to support products even two and even two actually has monetary repercussions for the distributor, so they're motivated to continue to add support and add resources to their product line. So capture a gaze at this list Enterprise carrier datacenter it's a who's who of blue chip customer list if you want to achieve commerce in these markets and these are not aspirational customers, we're doing commerce 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 true time decisions on that data. It's filtering that data it's sending it back to the core that current millions love it are doing that that data is being filtered at the core learning is taking situation 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 eventual year, they started doing commerce with everybody on the planet who you want to achieve commerce 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 faith about, so you can discern 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 prerogative now.

So it's a very strong customer list okay, so we're really using this IP portfolio in this industry. To provide platform solutions using elastic commerce models to unparalleled support to be a valued ally to their customers. We're literally selling these technologies into these markets okay, so how is this playing at the customer's Let's capture a gaze I will evanesce through three examples of actual customer meetings on how this portfolio is creating tremendous amounts of opportunity from one side to the other okay. So this is a this is a datacenter platform if you assume 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 keen tangy storage for their storage arrays. They are working with them on some of the datacenter shimmer 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 form 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 maintain to read some of the comments he made, because they were more unbelievable 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 commerce relationship with Marvell." close sales guy, CEO sits there and says, "It's in their interest to enlarge the commerce relationship with Marvell. This doesn't suck. This is a trustworthy thing." Okay? "It's much better than you guys think. You can't execute me -- web paper bag, don't convoke us, they will convoke you."

So I literally wrote that one down, and they continued to work with this guy, and they are talking about any of their products and how they map into his products, how they can achieve more commerce together. And he says, and I quote, "We need to maintain this even of allegiance around any things Marvell is doing." Again a quote that I kindhearted of love as a sales guy. And so, they literally walked out of there. And the top lieutenants at this company are sensible of the fact that this guy wants to basic maintain a broader relationship with this modern expanded company, and they maintain actually had more opportunities open up there in the past several weeks since that meeting that you can possibly imagine. Okay? So that's illustration 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 any 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 kindhearted of -- he was kindhearted of acknowledging, you know, they are sort of very faultfinding to each other at this space as 5G market acknowledges. And he proposed that maybe they want to account having a written agreement, a multi-year supplier agreement where they could support focused on each other. Again, as a sales guy, they fight tooth and nails to accept these multi-year supplier agreements, accept customers relegate for long-term. And they got a customer proposing that they mark this agreement so that they could linger focused on them. So, very, very strong relationship with these guys, this relationship is poignant forward in a very trustworthy manner.

And finally, they will talk about enterprise. You gaze at enterprise, and in enterprise you got access, aggregation, and core. The accesses were the -- the humans interfaced to the network aggregations where they any aggregated cores where any 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 love 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 commerce 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 commerce primarily in the core with ARM-based CPUs and security processors and coming this way, so that they kindhearted of met in the middle. And during this meeting, the CEO is acknowledging the broad portfolio and how faultfinding they are to their commerce going forward, and he asks Matt for a favor, "You know, I need you to accept this one product poignant a exiguous bit. They got customer commitments. Can you assist 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 commerce 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 maintain everything it takes to achieve it technically and maintain the pricing and the requirements of the customer needs but getting a exiguous phone convoke from the CEO saw hey how is Marvell doing in this switch opportunity socket, certainly doesn't Hurt when they are actually competing in there and so these types of things support happening, they support 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 consummate example. These three examples that I've given you are consummate 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 affirm this portfolio is very valuable to us. They want a broader relationship with you guys. Okay, so just to kindhearted of wrap it any up, we've been on a journey, the first 11 months they took sales and marketing apart, they situation Humpty back together again.

And then, they did it any 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 achieve commerce with and everyone is excited about what they had to tender 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, modern 11 lens Marvell on the other, but Jean prick my budget again. I didn't maintain the money to achieve it. So best I can achieve now, affirm thank you for listening, and interject 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 bustle up. So as you can see, it's a truly exciting time to be at Marvell. Their team talked about the tremendous opportunities they maintain ahead of us and that they besides talked about how they build a complete infrastructure portfolio to address those opportunity. So well how achieve they disburse the next minutes to tie together what you heard of this morning without monetary model?

First as a team that they assume about structure shareholder value is to really be with the powerful commerce model to focus on infrastructure market to generate a top-line revenue growth earning expansion and besides returns to shareholders. But they assume about is as their team talk about opportunities and their unique position. Matt talked about the characteristic of infrastructure market which tend to maintain 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 tall and Raghib actually gave you real-time illustration to talk about 3G, 4G and the 5G product cycle, they eventual 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 any those that's love music to CFO's ears and I'm pretty sure you are any adore it too because what it means is only build their monetary model, it's predictable revenue stream, tall and the stable indecent margin and the long -- and the consistent of free cash rush with a higher terminal value. So those are the characteristic of infrastructure market, and besides means in their monetary model, they actually don't maintain so many what if assumptions which are focused on retreat and parameters love NAND spot pricing next week. I can engage you that's the input in my model.

So I'll cover three topics. First, I'll achieve a quick recap of their monetary performance. Secondly, I'll debate their long-term monetary model and underlying assumptions. Third; I'll talk about what achieve you faith most is the capital return. Matt showed you this charter earlier about their monetary performance since the eventual Investor Day. I'll provide you a exiguous bit more details to note you as a company, how they maintain fundamentally changed the structure of their commerce 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 indecent margin was low 50s. It's actually quite consistent with the consumer semiconductor companies. The company besides invest in great amount of R&D in any different kindhearted 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 gaze at the operating margin back then, its barely single-digit.

So during the eventual two-and-a-half years, their team really pivoted the commerce into the infrastructure market. As you maintain heard from any 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 strong execution, they expanded their indecent margin from low 53s to 63.5, 1000 basis point increase, it feels really trustworthy to affirm that because you don't accept many opportunities to affirm you increased your indecent margin by 10 percentage point.

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

Let me switch gear to talk about their merger with the Cavium and their long-term monetary model. As their team highlighted earlier, this merger really increased their market opportunity 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 any of them together, it truly accelerates their top line revenue indecent earning expansion and to generate higher intrinsic value for shareholders in the long-term.

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

We hope their storage commerce 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 hope the overall market dollar SAM them to decline 7% but they hope they continue to expand into the datacenter near land market which is growing double-digit they besides discern their preamp revenue to continue to ramp. Those are their modern product cycles for Marvell. They will create incremental revenue opportunities to offset the market decline, so they believe their HDD commerce is going to be flattish or decline single-digit going forward. Fiber channel market has been really stable and healthy, so they continue to hope their fiber Channel commerce to be flattish going forward.

Now on the shimmer solution business, it's very exciting for us. Dan talked about the continued expansion to cloud enterprise datacenter. This commerce design cycle actually it's very long, if you can recall Dan's charter to gaze 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 achieve discern 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 shimmer solution market. So, overall, they continue to hope their shimmer solution commerce to grow inline or faster than market in the long-term.

Now let's switch into networking, the most exciting ingredient of their growth story. They achieve hope their networking commerce to grow faster than market at the low teens going forward. Both Raghib and the Tom talked about the exciting opportunities they maintain ahead of us. At the highest level, if you gaze 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 be in line with the market.

So from the end-market perspective, they discern growth opportunity across any 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 eventual few quarters and the Cavium side their enterprise commerce has been growing double-digit too. When you combine the both portfolios, the leverage they maintain and the design wins their team already won, they achieve assume their enterprise commerce will continue to grow with a strong momentum.

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

Next is datacenter, they maintain a very unique set of very innovative product lines in datacenter ranging from a security to Ethernet offload to gearbox re-timer. So any of them when you gaze at the in the overall context of Marvell today, which you know, it's over $3.4 billion revenue, the revenue ground is minute but any of them actually are going to maintain a majestic opportunity going forward. The growth rate of any those product lines actually it's going to be higher than carrier space and enterprise space. So they achieve hope their datacenter revenue to grow most significantly and enlarge their presence in datacenter in the long-term.

Next their comment on the server processor business, they really only included very temper 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 hope other product line to decline high-single-digit.

Now let me talk about what are the upsides they can discern going forward. First, revenue synergy; Tom talked a lot about the portfolio, the appointment they maintain with the customers. They maintain not included any revenue synergy in their baseline model. So if they generate a revenue synergy that will be tremendous upside. Of course, their commerce has long cycle, so you should hope it for the future business. Secondly, 5G in their baseline model, they only included the current design wins their team are working very hard to deliver, they did not include any additional customer design win especially on the baseband side. If they win modern designs there's going to be tremendous upside, I really need your sunglass in that time. That's very exciting. You don't accept 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 include 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 be upside the too. So as you can see, they maintain a lot of the exciting opportunities ahead of Marvell and their team is working really hard to execute because any 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 besides talk about their operating expense model. So they reached their synergy to $200 million during their eventual 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 account for to you why they achieved, they are going to achieve $200 million synergies.

So this is about 8% of the total company's disburse which include 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 achieve maintain 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 commerce and a lot of you know, those are very great investment. So their team worked extraordinarily hard to consolidate the roadmap. So in each business, they select 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 besides very significant for us. They maintain a lot of overlapping offices across different locations, they can consolidate, but the most unique one is they maintain their great Design seat and headquarter located immediate to each other and one of us occur to maintain actual space. So they actually they are going to be able to scoot 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 maintain been able to deliver 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 gaze at their synergy execution timeline. Their team actually is executing ahead of time. On indecent 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 gaze at their indecent margin, they pilot their Q3 as combined the company indecent margin to be around the 64.5%. So if they achieve their $50 million synergy target, they will be able to accept it to around 66% indecent margin.

On the operating expense side, their combined company's operating expenses elope rate ground is about $325 million and then they guided their operating expense for Q3 fiscal '19 to be in the ambit of $300 million and $305 million. So what had implied is we're going to achieve $90 million elope rate of synergy out of the gate as a combined company. Then you are going to discern 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 be able to complete one ERP program and achieve the remaining $60 million synergy for the overall $150 million synergy.

So when you assume 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 be between 6% to 7%.

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

For indecent business, they are going to invest higher than 24% to 25% to drive their commerce indecent 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 revert on those investments.

Automotive is a majestic example, in the past eventual year they did not include 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 situation any together to gaze at their long-term monetary model, they hope to deliver top line revenue growth in their baseline model to be at 6% and 8%, they hope their indecent margin to be greater than 66%. On the operating expense side, they will do sure they enlarge OpEx less than their revenue increases to accept to the leverage model. So operating margin, we're expecting to be greater than 35%.

Our free cash flow, the company has a very tall free cash rush 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 rush conversion model, they hope their free cash rush to be approximately 100% of non-GAAP net income which is about 30%. So when you gaze at this model we're structure which is focus on infrastructure market, that's why they can maintain this kindhearted of a fundamental economics behind their model.

Now let me talk about the capital structure and the capital returns, so the pass they assume about the capital structure is to really maintain a strong monetary 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 maintain over $500 million cash and besides they maintain $500 million undrawn credit facility, their leverage is very reasonable, their indecent leverage ratio is about two times and the net leverage ratio is only 1.5 times.

As a company, it's very notable for us to maintain their investment grade because they really want to invest for the future, so they want to maintain ample access to that market at very reasonable cost, invest through economic cycles and besides capture odds 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 assume of between their debt reduction map and their EBITDA expansion they will be able to achieve 1.5 times indecent leverage ratio in the next 18 months in the next 12 months.

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

In the near-term, let me talk about their priorities, first their commerce is generating significant cash rush even prerogative now, so they achieve assume they can maintain their dividend even and started to pay down the debt, the even for debt reduction is going to be modified with their partake repurchase plan.

As of you'll probably maintain seen is this money, their board of directors raised their partake repurchase map to $1 billion by authorizing 700 million partake in repurchase, so when you gaze 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 partake at this current even as majestic investment.

If you gaze at their long-term target model, if they can achieve their long-term target model, they will discern huge upside. So in summary, when you assume about the Marvell, they are very well positioned to address very great opportunities in the infrastructure market space and that they maintain a very powerful commerce model with underlying strong fundamental economics to drive long-term cash flow. And they besides maintain a strong monetary position and a strong monetary flexibility, so they can both continue to invest for the long-term and then revert cash to shareholders.

Before I invite their team to approach up for brain dumpsmp;A, I just want to capture this opportunity on behalf of their entire team to really thank everyone for your interest in Marvell and besides thank their long-term shareholders for your strong support through their journey to build really majestic company. Their objective is to build the commerce 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 approach up for brain dumpsmp;A.

Question-and-Answer Session

A - Ashish Saran

All right, folks. We're going to evanesce to the brain dumpsmp;A session. There are folks who maintain wow. It's going to be interesting. Can they start on here, please?

Matt Murphy

He has got the mic.

Ashish Saran

Okay, evanesce 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 pair 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 poignant 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 any the R&D cost already, you decided to roll the dice, or is it indicative of the product having some trustworthy long-term growth prospects?

Raghib Hussain

Okay. So when it comes to XPliant product line, it is combining. They maintain 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 identical 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 maintain the capability to view the packets through the network and so on. So they maintain taken those thing and they maintain merged the two architecture in the subsequent architecture. So that was the thought process behind XPliant.

Matt Murphy

I'll give a quick comment on Thunder. I express I maintain 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 justify let's support going forward I wasn't raised that way, trained that way, nor believe that. So they very much gaze at that opportunity as on the go-forward, and what's the market opportunity, how is the traction going, what's the customer adoption and any 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 majestic progress, and that's how they referee any of their businesses.

Ashish Saran

Next question?

Ross Seymore

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

Matt Murphy

Sure. So yes, so they did their convoke maybe a month ago. I assume they gave the outlook. They gave -- they leaned in a exiguous bit more than they normally do, right, to give investors visibility. And so, when they promulgate 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 comment about the short-term today.

Ross Seymore

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

Matt Murphy

Okay, great.

Ross Seymore

- the 5G side, obviously that's an district you're very excited about that 4X multiple as they evanesce from 4G to 5G, talk a exiguous bit about the mile markers and the timing of when they can start to discern 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 partake 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 besides pointed out, they are actually heavily engaged with the lot of other OEMs. So they are actually in a very trustworthy position to win additional design. So, their current ground map does not include any of the additional design, or does not include actually additional market partake 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 feeling on timing of that when you do 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 maintain been working on this, I assume you said two years, why you decided as Mike commented, to evanesce 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 be 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 gaze at this entire market, as I mentioned earlier, there is a entire kindhearted of goal, right, sort of -- I assume everybody is trying to really chase the tremendous 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 need a solution which is really designed for a scale, right, and that is why they -- when -- just love always that they did in Cavium as well, they found not only that they assume that way, but other tremendous customers besides assume that way, and that's how they started working with a immediate partner, and that's why we're developing the part.

Matt Murphy

Maybe I'll just add, I assume we're well-positioned there as well, because in the discontinuance when any these chips are available and any the benchmarks are done, a huge consideration I assume of any infrastructure company that's going to deploy AI processing into their hardware, into their systems, is going to want the identical dynamics that they described today, you know, great supplier, viable, focused on the discontinuance market, track record of execution. And so, I assume that's going to discontinuance up playing to their strengths, but as Raghib said, it's an active 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 assume that although we're not including it in their SAM, because by the pass the SAM at this point is actually -- these numbers are so great that it's hard to really -- you could accept third-party reports, so they prefer to execute the project, kindhearted of work with their customers, and as they do progress exiguous bit love they did with automotive Ethernet, then include this at a later date in terms of the SAM and the opportunity…

Raghib Hussain

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

Blayne Curtis

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

Matt Murphy

Sure. Yes, I assume that -- again, we're very focused on getting their lead customer production and enabling them to be successful. I assume the ally model that they showed when they said plenary ASIC merchant partner, I assume 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 besides going to be quite disparate. And so, just to achieve a gigantic ASIC for each of these is going to be a huge lift, and I assume the fact that the Cavium team actually has this proven track record on 4G and 5G IP, that ally model, but starts to gaze very attractive. So anything they were -- they would be able to win there would clearly be a modern product development. They need to evanesce often start that chip. So these are not ones that would ramp any time next year, they would be in the future, but this again is a very trustworthy long-term opportunity because as you can discern from the 3G cycle, the 4G cycle, now the 5G cycle, these are multi-year. And if you talk to their customers, they assume actually 5G is going to eventual 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 assume the shift from media to flash-based storage is clearly a tailwind for you, but I assume one of the concerns from investors is how posthaste SSD controller ASPs approach those of your hard drive controller? So, how should they assume about sustainability of the premium you receive on shimmer controllers versus hard drive controllers? Is it in a strictly linked to NAND ASPs per gigabyte?

And I guess as a follow-up, how they assume about both the trajectory and potential competition between yourselves and the any shimmer array providers as your Ethernet bunch of shimmer seems love a majestic alternative for NVMe over fabric arrays? Thanks.

Matt Murphy

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

Karl Ackerman

How sustainable you assume the premium of your NAND controllers will remain above hard drive controllers?

Dan Christman

I see. Okay. So I assume 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 modern features, functions, and accept a higher value out of those. Certainly in the notebook or PC space, you'll discern 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 any shimmer arrays, I would affirm that those types of customers do in the any shimmer arrays and the enterprise customers are customers that we're focusing on with those products. So I assume that's actually very complementary that they hope to discern them adopt those architectures.

Jean Hu

To add to what Dan said, right, recall in the shimmer controllers that they design typically takes three years to design into the customers, walkway the customers, strong 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 gaze at the more commodity ilk of pricing, that has nothing to achieve 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 exiguous bit about the wish of NAND shimmer providers to actually accept into the controller market, and how you discern sort of the merchant controller market, market partake 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 discern 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 simple switch, how achieve they assume 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 commerce with those customers. They continue to work with them on unavoidable commerce models. So I assume it's a natural partake of the evolution of that market. Clearly on the achieve 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 need some of the IPs and when you gaze at going from affirm 28 to 12 to seven nanometers doesn't that kindhearted of note that graph of how much expenses that gets to be. Marvell leverages across many, many chips. So there are certainly segments that build achieve stuff themselves, there are segments where they will work, they will buy something directly from Marvell, or working some of these ally models and the commerce models that -- again that showed. So I assume it's something that they account when they gaze at their models, whether it be the SAM or the revenue.

Matt Murphy

Yes, just one quick comment on that, I assume they maintain been operating in that environment since I joined. I express they had -- I assume the first month I was here, they had a management consulting company offered to achieve a free month of work for us, you know, to assist us accept 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 gaze at the data," and of course that would maintain been a horrible decision, because that became a hugely notable commerce for the company. So I assume they are going to co-exist and I assume as Dan mentioned, it's going to be different commerce models.

On the revenue synergies, the tremendous opportunity there really is the design wins. I express there are -- there is not a lot of discretionary commerce they maintain in their portfolio, and I assume that's actually a trustworthy 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 assume that's a challenge, right, but I achieve assume 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 maintain a processor, you know, a strong processor portfolio, it does enable you that sort of insight into the decision-making on the board at the earlier stages. So I assume that's really where you should about it, and I assume 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?

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, assist situation their intelligence at ease about how are you seeing just the broader psychodynamics play out? But longer term, give us well 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 pass 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 elope as one smooth company, with one united front of customers, so that they can be assured that there is going to be the prerogative execution behind some of the targets that you maintain laid out? Thank you.

Matt Murphy

Sure, great, great. Two questions, so, yes, the first one I assume is pretty interesting, right, to host an Analyst Day in the middle of -- about as boisterous an environment as they maintain seen in a longtime, and I assume any those issues are very true and upon us in terms of the geopolitical issues and the global issues with respect to tariffs. It's unclear what ramifications and any that are going to be. They are noiseless working their pass through that. I assume on the PC one, I assume to the extent that there is -- they are downstream from that, right, so I assume the best source of information would be evanesce 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 assume any shortage there has to be short-term in nature just because at some point there will be enough PCs to supply the world, I assume the world without enough PCs doesn't do sense to me. So I assume they will work through that issue, okay? And they will deal with it.

I assume on the integration, I will do a few comments and then maybe I will let Raghib comment too since he came from the Cavium management team, he assist build the company, but they are very far long in integration. I assume the fact that -- I express I showed the picture for a reason, they were very purposeful and considerate about the fact that it was a different culture and a different kindhearted of company, and I assume 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 kindhearted of how they elope their business.

Our point of views has been very well-received. I assume -- and they maintain really -- I assume integrated them well into their system, I express the fact that they did this portfolio review, which is really one of the most notable processes they maintain in their company. They disburse 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 join and assist 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 accept that. "Okay, wait a minute. This commerce is really not making as much money as they thought," or this one looks love it doesn't maintain enough resources, or you know, and so when you actually capture the strong technical acumen of Cavium and you combine it with the strong monetary acumen on Marvell, they view that as a very intertwined capability in their company. I assume it's been very well-received. And so, the eventual point in that would be Tom has brought in the sales organization, they are pivoting from kindhearted of commission-based, design win based, right, from an operations point of view, Andy Micallef, who is their leader there, he has done a majestic job in driving Marvell's operational excellence, right, that entire team now reports with him. And I assume people discern the profit to running it this way. So, maybe Raghib will give you a comment since you are…

Raghib Hussain

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

The other aspect which actually worked out really well in this situation, the pass 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 pass sort of a thing. It's just like, okay, let's accept together, pattern out what is the prerogative 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 evanesce and things love that. So, any those decisions were very inclusive, and the team really feel like, "You know, I did partake of the overall thing." So, not only at the top level, but besides at various engineering even and so on. So, overall environment is very, very kindhearted of cooperative. They discern 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 achieve 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 identical time, it is not that -- you know, entrepreneurial thing is kindhearted of mash or extirpate at all. I express if you really gaze at ilk of products they talked about today, I mean, they are investing in a lot of majestic potential innovative products, right? So, I would affirm the overall thought-process of being innovation-driven and being leader in unavoidable areas is besides appreciated on overall management side. That is working out very well.

Matt Murphy

I mean, capture one eventual question before they need to wrap up.

Quinn Bolton

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

Raghib Hussain

Okay. Should I capture that? So first of all, I thought you guys in finance can achieve 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 achieve 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 poignant data you know, ply data by the ground station, bandwidth is much higher, and as a result of that, you need switches which is at a much higher bandwidth even compared to the before previously.

Matt Murphy

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

SeekingAlpha

Keystone Semiconductor to tender Lowest-cost Dab Single-chip Tsunami Family Featuring slide note EPG and TPEG for German Digital Radio Marketing | killexams.com true questions and Pass4sure dumps

Hsinchu, Taiwan (PRWEB) September 13, 2011

KeyStone Semiconductor Corp. (KeyStone), a leading fabless semiconductor developer of advanced digital radio technologies announced today that its 2nd generation single-chip FM/DAB/DAB+/DMB-R receiver IC, KSW8650, offers the lowest-cost turn-key solutions to support German DAB+ slide show, EPG, and TPEG applications. Integrated with triple-band RF receiver, demodulator, DSP, micro control unit, shimmer memory, stereo DAC, battery detector, power management, etc, KSW8650 is the state-of-the-art digital radio IC that meets German lowest-power and lowest-cost multimedia DAB market demands.

KSW8650, based on KeyStone’s proprietary digital radio technologies, provides not only decoded AAC+ audio signal but besides digital data to array slide show, to present EPG, and to support TPEG on various applications. Unlike typical DAB modules that fail to support slide show, EPG, and TPEG, KeyStone’s single-chip KSW8650 is the only low-cost and low-power digital radio single-chip that satisfies German DAB+ rich-content market demands. A live demonstration clip on German DAB+ slide note by von Michael Praetorius at IFA Berlin is available at YouTube.

KeyStone offers a train of advanced highly integrated single-chip digital radio IC family including

  •     KSW6080 to support DSP-based FM/RDS/RBDS for Apple iOS and Android platforms,
  •     KSW8080 to support traditional FM/DAB/RDS/RBDS,
  •     KSW8290 to support modern FM/DAB/DAB+/DMB/RDS/RBDS,
  •     KSW8650 to support advanced FM/DAB/DAB+/DMB/RDS/RBDS/SLS/EPG/TPEG, and
  •     KSW2280 to support host-based applications with integrated RF/demodulator circuits.
  • All KeyStone single-chip digital radio IC family is built-in with 5 pre-set EQ in Bass Boost, Jazz, Live, Vocal, and Acoustic mode to work with patented two-way wireless digital radio technologies for transceiving data such as radio station information, slide show, EPG, TPEG, etc. from Tsunami modules to Apple and Android platforms and vice versa.

    KeyStone DAB single-chip family, any housed in a minute 1.1 cm x 0.8 cm uBGA package, is world’s first DAB receiver IC to build-in multiple languages including Chinese and to support both LCM and OLED array at no extra cost to OEMs. Company besides offers low-cost industry-grade DAB single-chip modules that are certified by stringent Electromagnetic Compatibility (EMC) BS EN 55022: 2006 and BS EN 55013: 2001 tests with an industry-grade temperature ambit of -40 C to 85 C, which are required by in-car applications.

    Certified by Apple, KSW8650 is employed in Apple MFI products such as LINGO iRis and iMini to tender DAB/DAB+ audio, slide note and EPG. LINGO products are available at German Gravis, Apple Store Europe, and authorized iStore worldwide. Newly introduced LINGO iDas is an Apple MFI docking station based on KeyStone’s patented “BigFish” technology to allow Apple idevices and Android phones to wirelessly control DAB dock stations by a free app DAB GO!. LINGO iVy is world’s first and smallest Bluetooth DAB receiver to work with smart phones.

    For more information on KeyStone’s digital radio Tsunami family, product roadmap, product applications, patented wireless digital radio technology, and chip/module quotation, gratify send your research to contact(at)KeyStonesemi(dot)com.

    About KeyStoneKeyStone Semiconductor Corp. is a technical innovator and leader in wireless digital radio semiconductor. Company is dedicated in providing a train of low-power and low-cost digital radio IC family for today’s multimedia broadcasting market demands. KeyStone offers turn-key solutions from novel Apple and Android apps such as DAB GO!, FM GO!, POWER GO!, KEYSTONE to complete digital radio design platforms to reduce customers’ time-to-market efforts.KeyStone products enable the delivery of the enriched analog and digital multimedia contents to home and mobile environments. Company provides the industry with the lowest-cost system-on-a-chip turn-key solutions to manufacturers of analog and digital broadcasting access products and portable devices.KeyStone is funded by public companies and private entities. Company is headquartered in the Science-Based Industrial Park, Taiwan, and has offices and facilities in North America and in China. KeyStone can be contacted at +886.3.666.2756 or at contact(at)keystonesemi(dot)com.

    Press Inquiries:

    KeyStone Semiconductor Corp.2nd Floor 62 Park Avenue 2,Science-Based Industrial Park,Hsinchu, Taiwan 300Office: +886-3-666-2756Fax: +886-3-666-2758Email: Contact(at)KeyStonesemi(dot)comWeb: http://www.KeyStonesemi.com __title__ ]

    ###

    Read the plenary epic at http://www.prweb.com/releases/2011/9/prweb8786699.htm


    Create secure connected applications in a sole click with Microchip's AVR(R) MCU progress Board for Google Cloud | killexams.com true questions and Pass4sure dumps

    New solution enables developers to easily deploy IoT devices to Google Cloud IoT Core's ersatz intelligence and machine learning infrastructure

    BANGKOK, Oct. 11, 2018 /PRNewswire/ -- Creating cloud-connected applications traditionally can require significant time and resources for embedded designers to develop necessary expertise in communications protocols, security and hardware compatibility. Developers often overcome these challenges with great software frameworks and true Time Operating Systems (RTOS), which results in increased progress time, effort, cost and security vulnerabilities. Microchip Technology Inc. (MCHP) has announced a modern Internet of Things (IoT) rapid progress board as partake of an expanded partnership with Google Cloud, enabling designers to prototype connected devices within minutes. The solution combines a powerful AVR® microcontroller (MCU), a CryptoAuthentication™ secure ingredient IC and a fully certified Wi-Fi® network controller to provide a simple and efficacious pass to connect embedded applications. Once connected, Google Cloud IoT Core makes it simple to collect, process and analyse data to inform decisions at scale.

    AVR-IoT WG progress board

    More

    The AVR-IoT WG progress board gives developers the ability to add Google Cloud connectivity to modern and existing projects with a sole click using a free online portal at www.AVR-IoT.com. Once connected, developers can expend Microchip's rapid progress tools, MPLAB® Code Configurator (MCC) and Atmel START, to develop and debug in the cloud. The board combines smart, connected and secure devices to enable designers to quickly connect IoT designs to the cloud, including:

  • Powerful AVR microcontroller (MCU) with integrated peripherals: The ATmega4808 8-bit MCU brings the processing power and simplicity of the AVR architecture with added advanced sensing and robust actuation features. With the latest Core Independent Peripherals (CIPs) that dwindle power consumption, it provides cutting-edge performance in real-time sensing and control applications.
  • Secure ingredient to protect the root of faith in hardware: The ATECC608A CryptoAuthentication™ device provides a trusted and protected identity for each device that can be securely authenticated. ATECC608A devices approach pre-registered on Google Cloud IoT Core and are ready for expend with zero touch provisioning.
  • Wi-Fi connectivity to Google Cloud: The ATWINC1510 is an industrial-grade, fully certified IEEE 802.11 b/g/n IoT network controller that provides an simple connection to an MCU of election via a elastic SPI interface. The module relieves designers from needing expertise in networking protocols.
  • "Designing secure, cloud-connected systems does not maintain to be an exhaustive process, and their expanded offerings with Google Cloud provide a simplified progress process to bring IoT designs to market quickly," said Steve Drehobl, vice president of Microchip's 8-bit MCU commerce unit. "Because the board is supported by both MCC and Atmel START, designers can accelerate progress using their preferred tool."   

    Among the benefits of connecting devices to Google Cloud IoT Core's infrastructure are the powerful data and analytics that enable designers to do better, smarter products. As partake of the infrastructure, embedded designs can better capture odds of, and respond to, rapidly changing conditions across many sensor nodes.

    "Microchip's solutions enable Google Cloud IoT customers to build or migrate their applications with hasten and scale, without compromising on security," said Antony Passemard, Head of Product Management for Google Cloud IoT. "Combined with Google Cloud Platform's network infrastructure and Google's IoT services, the simplicity of the board makes powerful analytics tools and unique machine learning capabilities accessible to anyone."

    Development Tools

    As announced earlier, AVR devices are now supported in the MPLAB X Integrated progress Environment (IDE), giving designers the option to select between MCC or Atmel START when developing with the AVR-IoT progress board. The board is compatible with more than 450 MikroElektronika Click boards™ that expand sensors and actuator options. Developers who purchase the kit will maintain access to an online portal for immediate visualisation of their sensors' data being published.

    Story Continues

    Availability

    The AVR-IoT WG progress board (AC164160) is available in volume production now. For additional information, contact any Microchip sales representative or authorised worldwide distributor, or visit Microchip's website. To purchase products mentioned in this press release, visit the AVR-IoT portal, visit their purchasing portal or contact one of Microchip's authorized distribution partners.

    Resources

    High-res images available through Flickr or editorial contact (feel free to publish):

    About Microchip Technology

    Microchip Technology Inc. (MCHP) is a leading provider of microcontroller, mixed-signal, analog and Flash-IP solutions, providing low-risk product development, lower total system cost and faster time to market for thousands of diverse customer applications worldwide. Headquartered in Chandler, Arizona, Microchip offers outstanding technical support along with dependable delivery and quality. For more information, visit the Microchip website at www.microchip.com.

    Note: The Microchip title and logo, the Microchip logo, AVR, MPLAB and CryptoAuthentication are registered trademarks of Microchip Technology Incorporated in the U.S.A. and other countries. any other trademarks mentioned herein are the property of their respective companies.

    Photo - https://photos.prnasia.com/prnh/20180920/2242232-1



    Direct Download of over 5500 Certification Exams

    3COM [8 Certification Exam(s) ]
    AccessData [1 Certification Exam(s) ]
    ACFE [1 Certification Exam(s) ]
    ACI [3 Certification Exam(s) ]
    Acme-Packet [1 Certification Exam(s) ]
    ACSM [4 Certification Exam(s) ]
    ACT [1 Certification Exam(s) ]
    Admission-Tests [13 Certification Exam(s) ]
    ADOBE [93 Certification Exam(s) ]
    AFP [1 Certification Exam(s) ]
    AICPA [2 Certification Exam(s) ]
    AIIM [1 Certification Exam(s) ]
    Alcatel-Lucent [13 Certification Exam(s) ]
    Alfresco [1 Certification Exam(s) ]
    Altiris [3 Certification Exam(s) ]
    Amazon [2 Certification Exam(s) ]
    American-College [2 Certification Exam(s) ]
    Android [4 Certification Exam(s) ]
    APA [1 Certification Exam(s) ]
    APC [2 Certification Exam(s) ]
    APICS [2 Certification Exam(s) ]
    Apple [69 Certification Exam(s) ]
    AppSense [1 Certification Exam(s) ]
    APTUSC [1 Certification Exam(s) ]
    Arizona-Education [1 Certification Exam(s) ]
    ARM [1 Certification Exam(s) ]
    Aruba [6 Certification Exam(s) ]
    ASIS [2 Certification Exam(s) ]
    ASQ [3 Certification Exam(s) ]
    ASTQB [8 Certification Exam(s) ]
    Autodesk [2 Certification Exam(s) ]
    Avaya [96 Certification Exam(s) ]
    AXELOS [1 Certification Exam(s) ]
    Axis [1 Certification Exam(s) ]
    Banking [1 Certification Exam(s) ]
    BEA [5 Certification Exam(s) ]
    BICSI [2 Certification Exam(s) ]
    BlackBerry [17 Certification Exam(s) ]
    BlueCoat [2 Certification Exam(s) ]
    Brocade [4 Certification Exam(s) ]
    Business-Objects [11 Certification Exam(s) ]
    Business-Tests [4 Certification Exam(s) ]
    CA-Technologies [21 Certification Exam(s) ]
    Certification-Board [10 Certification Exam(s) ]
    Certiport [3 Certification Exam(s) ]
    CheckPoint [41 Certification Exam(s) ]
    CIDQ [1 Certification Exam(s) ]
    CIPS [4 Certification Exam(s) ]
    Cisco [318 Certification Exam(s) ]
    Citrix [47 Certification Exam(s) ]
    CIW [18 Certification Exam(s) ]
    Cloudera [10 Certification Exam(s) ]
    Cognos [19 Certification Exam(s) ]
    College-Board [2 Certification Exam(s) ]
    CompTIA [76 Certification Exam(s) ]
    ComputerAssociates [6 Certification Exam(s) ]
    Consultant [2 Certification Exam(s) ]
    Counselor [4 Certification Exam(s) ]
    CPP-Institue [2 Certification Exam(s) ]
    CPP-Institute [1 Certification Exam(s) ]
    CSP [1 Certification Exam(s) ]
    CWNA [1 Certification Exam(s) ]
    CWNP [13 Certification Exam(s) ]
    Dassault [2 Certification Exam(s) ]
    DELL [9 Certification Exam(s) ]
    DMI [1 Certification Exam(s) ]
    DRI [1 Certification Exam(s) ]
    ECCouncil [21 Certification Exam(s) ]
    ECDL [1 Certification Exam(s) ]
    EMC [129 Certification Exam(s) ]
    Enterasys [13 Certification Exam(s) ]
    Ericsson [5 Certification Exam(s) ]
    ESPA [1 Certification Exam(s) ]
    Esri [2 Certification Exam(s) ]
    ExamExpress [15 Certification Exam(s) ]
    Exin [40 Certification Exam(s) ]
    ExtremeNetworks [3 Certification Exam(s) ]
    F5-Networks [20 Certification Exam(s) ]
    FCTC [2 Certification Exam(s) ]
    Filemaker [9 Certification Exam(s) ]
    Financial [36 Certification Exam(s) ]
    Food [4 Certification Exam(s) ]
    Fortinet [12 Certification Exam(s) ]
    Foundry [6 Certification Exam(s) ]
    FSMTB [1 Certification Exam(s) ]
    Fujitsu [2 Certification Exam(s) ]
    GAQM [9 Certification Exam(s) ]
    Genesys [4 Certification Exam(s) ]
    GIAC [15 Certification Exam(s) ]
    Google [4 Certification Exam(s) ]
    GuidanceSoftware [2 Certification Exam(s) ]
    H3C [1 Certification Exam(s) ]
    HDI [9 Certification Exam(s) ]
    Healthcare [3 Certification Exam(s) ]
    HIPAA [2 Certification Exam(s) ]
    Hitachi [30 Certification Exam(s) ]
    Hortonworks [4 Certification Exam(s) ]
    Hospitality [2 Certification Exam(s) ]
    HP [746 Certification Exam(s) ]
    HR [4 Certification Exam(s) ]
    HRCI [1 Certification Exam(s) ]
    Huawei [21 Certification Exam(s) ]
    Hyperion [10 Certification Exam(s) ]
    IAAP [1 Certification Exam(s) ]
    IAHCSMM [1 Certification Exam(s) ]
    IBM [1530 Certification Exam(s) ]
    IBQH [1 Certification Exam(s) ]
    ICAI [1 Certification Exam(s) ]
    ICDL [6 Certification Exam(s) ]
    IEEE [1 Certification Exam(s) ]
    IELTS [1 Certification Exam(s) ]
    IFPUG [1 Certification Exam(s) ]
    IIA [3 Certification Exam(s) ]
    IIBA [2 Certification Exam(s) ]
    IISFA [1 Certification Exam(s) ]
    Intel [2 Certification Exam(s) ]
    IQN [1 Certification Exam(s) ]
    IRS [1 Certification Exam(s) ]
    ISA [1 Certification Exam(s) ]
    ISACA [4 Certification Exam(s) ]
    ISC2 [6 Certification Exam(s) ]
    ISEB [24 Certification Exam(s) ]
    Isilon [4 Certification Exam(s) ]
    ISM [6 Certification Exam(s) ]
    iSQI [7 Certification Exam(s) ]
    ITEC [1 Certification Exam(s) ]
    Juniper [63 Certification Exam(s) ]
    LEED [1 Certification Exam(s) ]
    Legato [5 Certification Exam(s) ]
    Liferay [1 Certification Exam(s) ]
    Logical-Operations [1 Certification Exam(s) ]
    Lotus [66 Certification Exam(s) ]
    LPI [24 Certification Exam(s) ]
    LSI [3 Certification Exam(s) ]
    Magento [3 Certification Exam(s) ]
    Maintenance [2 Certification Exam(s) ]
    McAfee [8 Certification Exam(s) ]
    McData [3 Certification Exam(s) ]
    Medical [69 Certification Exam(s) ]
    Microsoft [368 Certification Exam(s) ]
    Mile2 [2 Certification Exam(s) ]
    Military [1 Certification Exam(s) ]
    Misc [1 Certification Exam(s) ]
    Motorola [7 Certification Exam(s) ]
    mySQL [4 Certification Exam(s) ]
    NBSTSA [1 Certification Exam(s) ]
    NCEES [2 Certification Exam(s) ]
    NCIDQ [1 Certification Exam(s) ]
    NCLEX [2 Certification Exam(s) ]
    Network-General [12 Certification Exam(s) ]
    NetworkAppliance [36 Certification Exam(s) ]
    NI [1 Certification Exam(s) ]
    NIELIT [1 Certification Exam(s) ]
    Nokia [6 Certification Exam(s) ]
    Nortel [130 Certification Exam(s) ]
    Novell [37 Certification Exam(s) ]
    OMG [10 Certification Exam(s) ]
    Oracle [269 Certification Exam(s) ]
    P&C [2 Certification Exam(s) ]
    Palo-Alto [4 Certification Exam(s) ]
    PARCC [1 Certification Exam(s) ]
    PayPal [1 Certification Exam(s) ]
    Pegasystems [11 Certification Exam(s) ]
    PEOPLECERT [4 Certification Exam(s) ]
    PMI [15 Certification Exam(s) ]
    Polycom [2 Certification Exam(s) ]
    PostgreSQL-CE [1 Certification Exam(s) ]
    Prince2 [6 Certification Exam(s) ]
    PRMIA [1 Certification Exam(s) ]
    PsychCorp [1 Certification Exam(s) ]
    PTCB [2 Certification Exam(s) ]
    QAI [1 Certification Exam(s) ]
    QlikView [1 Certification Exam(s) ]
    Quality-Assurance [7 Certification Exam(s) ]
    RACC [1 Certification Exam(s) ]
    Real-Estate [1 Certification Exam(s) ]
    RedHat [8 Certification Exam(s) ]
    RES [5 Certification Exam(s) ]
    Riverbed [8 Certification Exam(s) ]
    RSA [15 Certification Exam(s) ]
    Sair [8 Certification Exam(s) ]
    Salesforce [5 Certification Exam(s) ]
    SANS [1 Certification Exam(s) ]
    SAP [98 Certification Exam(s) ]
    SASInstitute [15 Certification Exam(s) ]
    SAT [1 Certification Exam(s) ]
    SCO [10 Certification Exam(s) ]
    SCP [6 Certification Exam(s) ]
    SDI [3 Certification Exam(s) ]
    See-Beyond [1 Certification Exam(s) ]
    Siemens [1 Certification Exam(s) ]
    Snia [7 Certification Exam(s) ]
    SOA [15 Certification Exam(s) ]
    Social-Work-Board [4 Certification Exam(s) ]
    SpringSource [1 Certification Exam(s) ]
    SUN [63 Certification Exam(s) ]
    SUSE [1 Certification Exam(s) ]
    Sybase [17 Certification Exam(s) ]
    Symantec [134 Certification Exam(s) ]
    Teacher-Certification [4 Certification Exam(s) ]
    The-Open-Group [8 Certification Exam(s) ]
    TIA [3 Certification Exam(s) ]
    Tibco [18 Certification Exam(s) ]
    Trainers [3 Certification Exam(s) ]
    Trend [1 Certification Exam(s) ]
    TruSecure [1 Certification Exam(s) ]
    USMLE [1 Certification Exam(s) ]
    VCE [6 Certification Exam(s) ]
    Veeam [2 Certification Exam(s) ]
    Veritas [33 Certification Exam(s) ]
    Vmware [58 Certification Exam(s) ]
    Wonderlic [2 Certification Exam(s) ]
    Worldatwork [2 Certification Exam(s) ]
    XML-Master [3 Certification Exam(s) ]
    Zend [6 Certification Exam(s) ]





    References :


    Dropmark : http://killexams.dropmark.com/367904/11889519
    Wordpress : http://wp.me/p7SJ6L-220
    Dropmark-Text : http://killexams.dropmark.com/367904/12866507
    Blogspot : http://killexamsbraindump.blogspot.com/2017/12/review-9a0-901-real-question-and.html
    RSS Feed : http://feeds.feedburner.com/ExactlySame9a0-901QuestionsAsInRealTestWtf
    Box.net : https://app.box.com/s/5ko65vf7z6wcoh9cbuxjauajk8y90hn9






    Back to Main Page

    www.pass4surez.com | www.killcerts.com | www.search4exams.com | http://www.jeepmansoffroad.com/