Cavium Completes Acquisition of QLogic

San Jose, CA, August 16, 2016 – Cavium, Inc. (NASDAQ: CAVM) (“Cavium”), a leading provider of semiconductor products that enable intelligent processing for enterprise, data center, cloud, wired and wireless networking, today announced that Cavium had completed its acquisition of QLogic Corp. (NASDAQ: QLGC) (“QLogic”), a leading supplier of high performance networking infrastructure solutions.

Cavium Completes Acquisition of QLogic

 After the successful completion of an exchange offer for all outstanding shares of QLogic, a wholly owned subsidiary of Cavium has been merged with QLogic, with QLogic as the surviving corporation and becoming a wholly owned subsidiary of Cavium.  At the effective time of the merger, each outstanding share of QLogic common stock (other than shares directly owned by QLogic and its subsidiaries, or Cavium and its subsidiaries) was converted into the right to receive $11.00 per share in cash and 0.098 shares of Cavium common stock, without interest and less any applicable withholding taxes, which is the same price that was paid in the exchange offer. Under Section 251(h) of the General Corporation Law of the State of Delaware, no vote of QLogic’s stockholders was required to consummate the merger. QLogic shares will cease to be traded on the NASDAQ Global Select Market. 

About Cavium
Cavium is a leading provider of highly integrated semiconductor products that enable intelligent processing in enterprise, data center, cloud, wired and wireless service provider applications. Cavium offers a broad portfolio of integrated, software compatible processors ranging in performance up to 100 Gbps that enable secure, intelligent functionality in enterprise, data center, broadband and access & service provider equipment. Cavium’s processors are supported by ecosystem partners that provide operating systems, tool support, reference designs and other services. Cavium’s principal offices are in San Jose, California with design team locations in California, Massachusetts, India, and China. For more information, please visit: http://www.cavium.com.

Cavium Contact
Angel Atondo
Sr. Marketing Communications Manager
Telephone: +1 408-943-7417
Email: angel.atondo@cavium.com

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Cavium Announces Financial Results for Q1 2016

SAN JOSE, Calif., April 27, 2016 – Cavium, Inc. (NASDAQ: CAVM), a leading provider of semiconductor products that enable secure and intelligent processing for enterprise, data center, cloud, wired and wireless networking, today announced financial results for the first quarter ended March 31, 2016.

Net revenue in the first quarter of 2016 was $101.9 million, a 1.0% sequential increase from the $100.9 million reported in the fourth quarter of 2015 and relatively flat from the $101.8 million reported in the first quarter of 2015.

Generally Accepted Accounting Principles (GAAP) ResultsNet loss in the first quarter of 2016 was $3.8 million, or $(0.07) per diluted share, compared to $1.0 million, or $(0.02) per diluted share in the fourth quarter of 2015. Gross margins were 66.8% in the first quarter of 2016 compared to 66.2% in the fourth quarter of 2015. Total cash and cash equivalents were $129.6 million at March 31, 2016.

Non-GAAP ResultsCavium believes that the presentation of non-GAAP financial measures provides important supplemental information to management and investors regarding financial and business trends relating to Cavium’s financial condition and results of operations. These measures should only be used to evaluate Cavium’s results of operations in conjunction with the corresponding GAAP measures. The reconciliation between GAAP and non-GAAP financial results is provided in the financial statements portion of this release.

In the first quarter of 2016, Non-GAAP net income was $14.8 million, or $0.25 per diluted share. Non-GAAP gross margin was 67.1% and Non-GAAP operating margin (non-GAAP income from operations as a percentage of revenue) was 15.0%.

Recent News Highlights

• April 19, 2016 - Cavium Showcased the Innovative NFV/SDN Technology Solutions at NFV World Congress 2016
• March 15, 2016 - Cavium’s XPliant Switches Empower Open Networking at ONS 2016
• March 15, 2016 - Cavium Showcased Key Technology Components for Cloud Datacenters and NFV at Open Networking Summit 2016
• March 7, 2016 - Cavium Seamlessly Connected Open Switch Software on XPliant Switches
• March 7, 2016 - Cavium to Demonstrate Data Center Solutions for Next Generation Cloud Infrastructure at Open Compute Summit 2016
• March 1, 2016 - Cavium OCTEON III Multi–Core Processor Family Powering Next Generation Advanced Security Appliances
• February 29, 2016 - Cavium Showcased Products for Securing the Enterprise, Cloud & Service Provider Infrastructure at RSA Conference 2016
• February 29, 2016 - Cavium Announced FIPS 140-2 Certification of LiquidSecurityFamily
• February 29, 2016 - Lanner Announced MR-810 Secure Networking Appliance for Telecom and NFV Applications Based on Cavium ThunderX Workload Optimized Processors
• February 22, 2016 - Cavium collaborates with ONOS project to launch M–CORD Solution POC at Mobile World Congress 2016
• February 22, 2016 - Cavium Unveiled 4G and 5G Solutions for Next Generation Carrier Infrastructure at Mobile World Congress 2016
• February 22, 2016 - Cavium and Argela Delivers ProgRAN, a Fully Programmable, SDN–based RAN Solution for LTE and 5G

Cavium, Inc. will broadcast its first quarter of 2016 financial results conference call today, April 27, 2016, at 2 p.m. Pacific time (5 p.m. Eastern time).  The conference call will be available via a live web cast on the investor relations section of the Cavium website at http://www.cavium.com. Please access the website at least a few minutes prior to the start of the call in order to download and install any necessary audio software. An archived web cast replay of the call will be available on the web site for a limited period of time.

About Cavium
Cavium is a leading provider of highly integrated semiconductor products that enable intelligent processing in enterprise, data center, cloud and wired and wireless service provider applications. Cavium offers a broad portfolio of integrated, software-compatible processors ranging in performance from 100 Mbps to 100 Gbps that enable secure, intelligent functionality in enterprise, data-center, broadband/consumer and access and service provider equipment. Cavium’s processors are supported by ecosystem partners that provide operating systems, tool support, reference designs and other services. Cavium’s principal office is in San Jose, CA with design team locations in California, Massachusetts, India and China. For more information, please visit:http://www.cavium.com. (Know More)

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Cavium to Demonstrate Data Center Solutions for Next Generation Cloud Infrastructure at Open Compute Summit 2016

Demonstration of ThunderX® and XPliant® based OCP platforms by various ODM vendors

SAN JOSE, CA, March 8, 2016 –SAN JOSE, CA, March 8, 2016 – Cavium, Inc., (NASDAQ: CAVM), a leading provider of semiconductor products that enable intelligent processing for enterprise, data center, cloud, wired and wireless networking, will demonstrate Cavium’s newest products supporting Open Compute Project (OCP): based on ThunderX Workload optimized processors and highly configurable Ethernet switches for next generation data center and cloud infrastructure.

Industry adoption of OCP is rapidly growing as the next generation cloud data center stresses on efficient data center designs for scalable computing in form of workload optimized servers, scale out storage appliances and flexible network architectures. Cavium’s innovative data center & cloud technology product offerings target efficiency, high-performance and flexibility thereby complementing the goals of OCP networking initiatives. Designs deploying Cavium technology offerings are optimized for total cost of ownership (TCO) and complexity that are essential key requirements for scalable computing designs.

The ThunderX product family is Cavium’s 64-bit ARMv8-A server processor for next generation Data Center and Cloud applications that features high performance custom cores, single and dual socket configurations, high memory bandwidth and large memory capacity. The product family also includes integrated hardware accelerators, integrated feature rich high bandwidth network and storage IO, fully virtualized core and IO, and scalable high bandwidth, low latency Ethernet fabric, which affords ThunderX best-in-class performance per dollar and watt.

Cavium’s XPliant Ethernet switch family targets applications in cloud / enterprise data centers and service provider infrastructure, for both top-of-rack and backbone applications. XPliant Packet Architecture (XPA) enables very high level of table flexibility and extensible header support without any compromise in throughput. XPliant family of Ethernet switches offers centralized shared packet buffer architecture to absorb the large bursts. The combination of leading performance and remarkable flexibility is attractive across all the segments. These highly configurable Ethernet switches which provides bandwidth from 1Tbps to 3.2Tbps in monolithic silicon supports 1G, 10G, 25G, 40G, 50G and 100G interfaces. This family of switches also provides connectivity solutions for embedded applications.

Cavium will show the following product demonstrations in booth C3 at OCP 2016:

• ThunderX®:64–bit ARMv8 based SoC family of workload optimized processors with a range of SKUs and form factors optimized for high performance computing, including volume compute, storage, secure compute and networking specific workloads
• Demonstration of ThunderX based OCP servers by various ODM vendors
• Demonstration of ThunderX storage server cluster running Red Hat Ceph
• XPliant®: Extensible, feature rich, cloud scale datacenter switches providing bandwidth from 1Tbps to 3.2Tbps
• Demonstration of FBOSS and OpenSwitch NOS software running on the Cavium’s XPliant based Edgecore AS7500-32X platform.
• Demonstration of Microsoft Azure’s network software running on Cavium’s XPliant based Edgecore AS7500-32X platform via Switch Abstraction Interface (SAI) adopter at Microsoft’s booth
• Demonstration of Pica8’s PicOS software running on Cavium’s XPliant based Edgecore AS7500-32X platform
• Demonstration of XPliant–based 32x100G platforms from various ODM partners.

To schedule a meeting with Cavium, please contact your local sales account manager or Lilly Ly (lly@cavium.com). Please enter Meeting Request at OCP 2016.

About Cavium, Inc.
Cavium (NASDAQ: CAVM) is a leading provider of highly integrated semiconductor products that enable intelligent processing in enterprise, data center, cloud and wired and wireless service provider applications. Cavium offers a broad portfolio of integrated, software-compatible processors ranging in performance from 100 Mbps to 100 Gbps that enable secure, intelligent functionality in enterprise, data-center, broadband/consumer and access and service provider equipment. Cavium’s processors are supported by ecosystem partners that provide operating systems, tool support, reference designs and other services. Cavium’s principal office is in San Jose, CA with design team locations in California, Massachusetts, India and China. For more information, please visit: http://www.cavium.com.

Cavium Contact:
Angel Atondo
Sr. Marketing Communications Manager,
Cavium, 2315 N. First Street,
San Jose CA 95131,
Telephone: +1 408-943-7417
Email: angel.atondo@cavium.com

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Cavium and XPliant Introduce a Fully Programmable Switch Silicon Family Scaling to 3.2 Terabits per Second

XPliant™ Packet Architecture (XPA™) Enables Data Plane Flexibility for SDN Without Compromising Raw Speed

Cavium, Inc., (NASDAQ: CAVM), a leading provider of semiconductor products that enable intelligent processing for enterprise, data center, cloud, service provider wired and wireless networking, and XPliant, Inc., a fabless Ethernet switch silicon provider, today introduced the CNX880xx line of Ethernet switch chips featuring the revolutionary XPliant Packet Architecture (patent pending) (“XPA”) – an industry first, delivering no-compromise, high packet throughput on a fully programmable switch architecture. Cavium announced on July 30, 2014 a definitive agreement to acquire XPliant.

Global mobile data traffic will increase nearly 11-fold between 2013 and 2018 (61% CAGR), while cloud data center IP traffic will more than double between 2014 and 2017 (30% CAGR) according to Cisco’s Visual Networking Index and Global Cloud Index. Software Defined Networking (“SDN”), virtualization and faster link speeds continue to emerge as the architectural solutions to alleviate these issues.

• Performance:  Dell’Oro is forecasting connections faster than 10G (25, 40, 50, 100G and beyond) will increase at an annual rate of 60% to $8.2B by 2018.
• Flexibility: Data center networks need to be more agile, to support SDN and NFV initiatives.  IDC predicts SDN will grow at over 89% annually, reaching $8B by 2018.
• Flexibility using the XPA will allow new protocols to be implemented in weeks, not years.

Introducing the CNX880xx Programmable Switch Silicon Family
The CNX880xx family was built from the ground up to utilize XPA, allowing the design team to create a groundbreaking flexible switch without compromising on performance. Existing switches evolved from simple layer 2 bridges, and over time have accumulated many disparate features, resulting in an inefficient architecture.

The XPliant team took a fresh, original approach in developing the XPA technology.  Dedicated function blocks were replaced with an array of programmable packet engines and shared resources adaptable to perform the various operations required in the switch. The innovative XPA approach will enable the switch to be tailored to the requirements of new protocols with unprecedented flexibility. Software personalities will dictate the exact operation to be performed – for packet parsing, table look-ups, packet re-writes, fabric scheduling, and statistics and counters – without impacting performance.

The CNX880xx family of switch chips from Cavium and XPliant will provide:

• Industry leading Ethernet bandwidth – 880 Gigabits per second to 3.2 Terabits per second in a single chip
• Industry leading port density at 3.2T with many flexible configurations, including:
• 32 ports of 100G
• 64 ports of 40G or 50G
• 128 ports of 10G or 25G
• Various combinations of these port speeds
• Support for the new 25G Ethernet Consortium specification for 25G on a single lane or 50G on two lanes.

XPA will be available on XPliant’s CNX880xx Ethernet Switch product line, which is expected to sample in Q4, 2014. Evaluation boards will be available at the same time.

XPliant provides source code for a complete set of switching and routing functions as well as several network overlays via its SDK (software design kit).  The newest protocols such as GENEVE are already supported. As new protocols are introduced, updated personalities can be provided, even to switches that are installed in the network. Thus as innovations such as OpenFlow™ TTPs or VXLAN extensions are created, they can quickly be deployed across the network.  The SDK and a software simulator are available now, enabling XPliant customers to have their software debugged and ready to go when the chips arrive.

“Leading cloud-scale Internet companies need to cope with the rapid increase in traffic from mobile apps as well as video” said Eric Hayes, VP and general manager, Switch Platform Group. “With XPA, OEMs will be able to differentiate their products while drastically reducing the time to new service deployment, increasing automation and driving operational efficiency.”

Cavium’s OCTEON® and ThunderX™ processors are excellent companions for providing the control plane CPU for switch products. Reference designs will also support other control plane CPU options.

"This new XPliant switch silicon featuring XPA is going to provide great benefits to the market" said JR Rivers, CEO and co-founder of Cumulus Networks. "The open and flexible nature of the architecture is very aligned with our vision and approach to networking.”

The ability to update the Ethernet switch feature set provides several important business benefits:

• Provide new protocol deployment in weeks, not years
• Fast response to changing business requirements
• Extend switch lifecycle, improving ROI. Change in protocol requirements will not render the switch obsolete like commonly available options
• Switches can be re-deployed by adapting features to match new locations
• Inventory management – using software personalities to adapt a single spare type to multiple network locations – reducing CapEx
• OEM switch system vendors can create impactful, differentiated solutions by creating protocols for specific business opportunities

The XPliant family of switching chips target applications in cloud / enterprise data centers and service provider infrastructure, for both top-of-rack and backbone applications. They will also provide connectivity solutions for embedded applications. The combination of leading performance and unprecedented flexibility is attractive across all these segments.

“XPA is not an incremental approach to switching but rather a completely new paradigm, with the potential to change the economics of network switching,” said Bob Wheeler, principal analyst for networking, The Linley Group. "Using XPA switches, customers can continue to evolve and add features without needing a hardware upgrade.”

“The architects pushing the limits of data center design are always looking for ways to innovate, but the fixed-feature switches of today limit what they can do” said Dan Pitt, executive director of the Open Networking Foundation. “Table Type Patterns and other tools ONF develops to enable protocol-independent forwarding open the door to a flexible physical infrastructure that responds to the dynamic needs of these data centers and we are delighted to see them being implemented and brought to market.”

XPliant CNX880xx – along with Cavium’s ThunderX, OCTEON, and LiquidIO® – will provide Cavium’s customers comprehensive end to end solutions for compute, networking and storage, optimized for best performance, cost and power for next generation virtualized software defined infrastructure.

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Cavium's XPliant™ Ethernet Switch Supports the Emerging Open Ecosystems

Open Compute Project (OCP), Open Network Install Environment (ONIE) and Switch Abstraction Interface (SAI)

SAN JOSE, California/PRNewswire/ -- Open Compute US Summit 2015 – Cavium, Inc., (NASDAQ: CAVM), a leading provider of semiconductor products that enable intelligent processing for enterprise, data center, wired and wireless networking today announced its commitment  to driving an open ecosystem for data center switching.  Qualification of hardware platforms as well as standardization of software interfaces enables both OEM and 3rd party innovation ushering in a new era in open Ethernet switching.

The Open Compute Project (OCP) was created with the goal of developing the most efficient data center designs for scalable solutions, by openly sharing ideas, specifications and other intellectual property. A growing number of established networking vendors are adopting OCP, contributing their own intellectual property. Cavium's XPliant team is working with both hardware and software vendors to submit OCP designs. This combination enables XPliant Packet Architecture™ (XPA)-powered switches to be the most flexible and open customer friendly architecture in the market.

The Open Network Install Environment (ONIE) is an OCP open source initiative that enables the decoupling of Ethernet switch hardware from networking software. Using a switch supplied with ONIE, the customer can freely add the software of their choice. The OCP specification has also defined an open API, Switch Abstraction Interface (SAI) that enables networking software to be written independent of the switch silicon used. This allows customers and systems developers to write their software and independently pick the best switch to support it. XPliant switch SDK (software development kit) has full support of ONIE and has incorporated SAI. This enables customers to migrate from legacy switch architectures and easily adopt XPliant-powered switching solutions.

Cavium's XPliant Ethernet switch silicon combines the highest level of flexibility and performance which is unprecedented in the networking industry. The XPliant CNX880xx family of Ethernet switches provides an unparalleled flexibility in protocol processing without compromising throughput. Combining the new XPliant switch silicon with the emerging hardware and software open ecosystem will now enable true software defined networking (SDN).

The XPliant Packet Architecture (XPA) allows programming of every element of switch packet processing increasing feature velocity and rapid deployment of differentiating features. The XPliant switch features include:

• 3.2 Tbps 32x100G Ethernet switch
• Support of 25G Ethernet Consortium
• XPliant Packet Architecture (XPA) – Enables longer switch life-cycles and avoids fork-lift upgrades
• One box, multiple products – single XPliant hardware switch optimized for multiple places in network via custom software

"Customers building cloud infrastructures are increasingly turning to open network solutions which are optimized for web-scale applications," said George Tchaparian, CEO at Edge-Core Networks and GM of Data Center Networks at Accton Technology.  "Accton is developing 100GbE data center switches based on Cavium XPliant Ethernet Switch silicon, which Edge-Core will deliver to data center, telecom and enterprise customers who require the increased capacity, performance and flexibility which XPliant silicon enables."

"Cavium is a valued partner for Inventec and our collaboration will expand our software defined networking solutions and deliver the open networking platforms to our customers," said Daphne Chen, Director of Network Infrastructure Design Center at Inventec Corporation. "The flexibility powered by their XPA architecture of XPliant Ethernet switch enables the innovation to meet the demands and complexities imposed by the rapidly evolving data center environment."

Cavium is committed to providing open switch networking solutions, enabling the industry to easily migrate from legacy architectures to new efficient solutions for software defined data centers. Attendees at the Open Compute Project US Summit can visit Cavium in booth C12 and Accton in booth D22.

About Cavium, Inc.
Cavium (NASDAQ: CAVM) is a leading provider of highly integrated semiconductor products that enable intelligent processing in enterprise, data center, cloud and wired and wireless service provider applications. Cavium offers a broad portfolio of integrated, software-compatible processors ranging in performance from 100 Mbps to 100 Gbps that enable secure, intelligent functionality in enterprise, data-center, broadband/consumer and access and service provider equipment. Cavium's processors are supported by ecosystem partners that provide operating systems, tool support, reference designs and other services. Cavium's principal office is in San Jose, CA with design team locations in California, Massachusetts, India and China. For more information, please visit: http://www.cavium.com.

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