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

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Nortel Nortel Communication Server 1000

Nortel Builds on its Unified Communications imaginative and prescient, options Portfolio | killexams.com true Questions and Pass4sure dumps

Nortel

NYSE : NTTSX : NT

Nortel

March 05, 2007 09:02 ET

CEO Mike Zafirovski Outlines Nortel UC vision at VoiceCon 2007

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

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

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

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

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

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

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

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

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

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

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

About Nortel

Nortel is a recognized leader in supplying communications capabilities that bear the engage of traffic Made elementary a reality for their shoppers. Their subsequent-technology applied sciences, for each carrier issuer and enterprise networks, champion multimedia and company-essential applications. Nortel's applied sciences are designed to aid liquidate trendy limitations to effectivity, hasten and efficiency by simplifying networks and connecting people to the suggestions they need, after they requisite it. Nortel does traffic in additional than a hundred and fifty nations everywhere. For more assistance, argue with Nortel on the web at www.nortel.com. For the newest Nortel news, consult with www.nortel.com/news.

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

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


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

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

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

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

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

It isn't a particularly novel idea, however what distinguishes this certain pass to the difficulty is that Microsoft's office utility is so ubiquitous in traffic today that the mixing of point-of-presence in applications may well exist simply tempting adequate to rep companies to disagree with Nortel.

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

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

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

"individuals fill PBXes, americans fill audio-conferencing methods or solutions that they buy, video-conferencing options, electronic mail - hopefully total Microsoft change - speedy messaging solutions, and these are total islands - the manner you rep provisioned, the pass you check in, your username, your tackle, the manner you discover someone," eminent Ballmer prerogative through his speech these days.

"how many messages will they depart, on commonplace, in numerous locations for someone?...You could lisp it exist a very livable world; total of us conclude are alive in it, definitely, every day. That does not bear it the finest they are able to conclude - the top-rated for the conclusion-user, not to mention for the IT offshoot or for the individuals who're establishing company functions."

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

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

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

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


Microsoft and Nortel existing Alliance Roadmap | killexams.com true Questions and Pass4sure dumps

news

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

the two groups first introduced their collaboration closing summer.

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

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

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

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

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

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

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

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

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

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

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

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

concerning the writer

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


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Asynchronous Communication — Methods and Strategies | killexams.com true questions and Pass4sure dumps

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

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

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

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

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

    There are three methods to implement an asynchronous communication:

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

    Method 1: Asynchronous Callback

    In an asynchronous callback mechanism, following steps occur:

  • The client authenticates to the server.

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

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

  • The server acknowledges the receipt of the request synchronously.

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

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

  • The client fetches the information and processes it.

  • Method 2: Broker-based Publish/Subscribe

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

  • The client authenticates to the server.

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

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

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

  • The client fetches the information and processes it.

  • Since they reckon on a different broker component that will conclude the mediation between the systems, they should fill a solid understanding of the inner workings of that broker. Features enjoy message durability, TTLs, and routings requisite to exist elaborated thoroughly.

    Method 3: Polling

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

  • The client authenticates to the server.

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

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

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

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

  • There are certain strategies you requisite to deem while designing asynchronous communication architectures.

    Key Strategy

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

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

    Broker-based Publish/Subscribe pass normally uses one shared topic for total clients. Key Strategy becomes extremely notable especially when this pass is chosen.

    Retry Strategy

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

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

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

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

    Subscription Strategy

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

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

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

    Payload Strategy

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

    Designing asynchronous systems require mindful design. The first question they requisite to query ourselves is “Will it exist more feasible to conclude this synchronously?”. If the non-functional requirements allow, they should stick to the synchronous pass of doing things. If you tarry up deciding the asynchronous path though, methodologies and strategies that are mentioned in this article can bear your journey smoother.

    Topics:

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


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

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

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

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

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

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

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

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

    Other Facts:

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

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

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

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


    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 appellation is Ashish Saran; I'm the Vice President of Investor Relations at Marvell. I've been in the semi industry for over 20 years, which should bear you question my sanity, but putting that aside, as some of you know, I recently joined Marvell. I was attracted by the very significant growth opportunities I note in front of this company, especially with the addition of Cavium. I'm too very pleased to note a lot of intimate faces in the audience, so thank you everyone for taking time out of your diligent schedules and spending today morning with the Marvell team.

    As you can see, they fill 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 exercise in describing Tom's style. Jean will deliver the money slides, followed by a mp;A session which will tarry the event.

    Now, before they start, I conclude requisite to hold you through their very exciting pecuniary safety briefing. This presentation today will accommodate certain forward-looking statements which conclude fill risks and uncertainties. They characterize these in their filings with the SEC. They will too exist mentioning certain non-GAAP pecuniary measures, a reconciliation is at the tarry of this presentation, and this presentation will exist available on their Web site after today's event.

    Now that total of you fill 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 separate car can learn how to drive safely, then share it with 10 million others. And soon, highly bright 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 preserve it flowing, the datacenter needs to preserve morphing, so much so that you can't expose where the core ends and the edge begins. The solution rests in the foundational technology here today. They understand; they helped build it. With decades of experience, the combined portfolios of Marvell and Cavium fill 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, suitable entire computing systems on to a separate microchip, increased storage density so companies can meet tomorrow's demands, not exist surprised by them, and discovered ways to preserve data flowing swiftly and securely, through cables or through the air. The novel Marvell has its sights on tomorrow, not just to unearth what's next, but to bear it available today.

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

    [VIDEO ENDS]

    Matt Murphy

    Okay. respectable morning, everybody. It's mighty to note total 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 deem 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 exist processed and actioned. And Marvell is enabling the infrastructure that makes total of this possible. So today I'm going to talk about the benign of company that we're creating, how far we've come, where we're going, and how we're doing since we've combined with Cavium. And I'm going to expose you how we're going to grow, which I'm positive is on everybody's minds here today.

    So first, let me bespeak you how far we've foster from their final investor day, which was just six quarters ago, here in this room. So let me hold 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 novel leadership team which they introduced everybody, and they told their story. And that tale started with the market opportunity, which was really fueled by the explosion of data and the requisite 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 too shared their plans at that time how they were going to refocus the company to build a long-term sustainable traffic that could deliver hardy margins, cash flow; total the things that you expect from a top-tier semiconductor company. And I deem at that time they caught some of you off guard with their transparency. I recall during the mp;A, I deem it was Chris Roland, who I deem is in the margin here, who said, "I'm silent trying to device out what company this is. I note the logo behind you, it says Marvell, so I guess I will just travel with that." So they did set some very elevated expectation for ourselves in that meeting. And I'm jubilant to report that the team has done a mighty job on delivering on their commitments.

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

    So these were mighty results. We're very haughty of them. But they did not occur by accident. So let me talk now about how they hasten 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 total of their businesses in the combined company. We've done three of these now since I've joined. The final one, more recently, was with Cavium. And so we've gone through now every traffic in the combined company.

    We understand where every R&D dollar is being spent; they understand the competitive dynamics of those businesses, the IRRs, the grievous margins, the growth potential, the competitive landscape. And we've now built P&Ls and three-year plans for each of those businesses. So we've actually integrated Cavium in quite quickly into their planning process. We're too not afraid to stop projects or redirect resources or reallocate their precious R&D dollars where they fill to. We're very disciplined in this front. They too believe that time-to-market is a differentiator in their industry. So, their customers, they plot their schedules around their tackle around their schedules. They're total one and the same. And so we've completely retooled inside the company how they plot 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 too believe in a very data-driven approach to traffic management. And they exercise data to hasten total aspects of their business, whether that's pricing, forecasting, exact planning, or measuring customer satisfaction. And we're making better decisions because of it, and we're already seeing the results. So this has been a very programmatic, solicitous effort. And they note the benefit of this nature of approach on the novel Cavium team coming in.

    Part of the turnaround too 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 hasten the company. Integrity, respect, innovation, execution, supporting each other, these are total very powerful words that resonate very well with their employees and their customers, by the way.

    And we've now received numerous supplier awards in the final two years. And recently they made the Forbes Best Employers list in 2018. So they believe culture is a competitive advantage. The employees note the stout picture, they understand their role, they'll buy in and they'll fully entrust 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 total took time to rep offsite and rep to know each other and align on their goals. And by the tarry of that offsite, you couldn't expose who was a Cavium leader and who was a Marvell leader; we've total 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 exist more haughty to dawdle forward with such a talented team that we've assembled. And they set their mission to exist 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 fill a mission that is light to understand. Everyone can rep behind it whether it's an employee, whether it's one of their customers, or everybody in the room.

    So let's hold a minute to talk about why they enjoy infrastructure; why is this a respectable market to exist in? I deem 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. big TAM, you can talk about it with your friends at a party, it's light to understand. But I'm telling you, as speedy as success comes in this market as speedy as it can travel away. And this is not just an academic observation I'm making, I've lived this. I've been in this world. I've lived through the notebook cycle, the digital camera cycle, the smartphone cycle, the smart TV cycle. This is a brutal traffic to exist in. And they are fortunate at Marvell to fill the extravagance to participate in the infrastructure market. This is one where they don't just fill to re-win designs every year to breakeven and tarry on the treadmill. The design cycles and infrastructure are typically three to five years. So there is a long cycle of evolution and partnership with your customers. You don't requisite 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 domain for 10 years or more. So, when customers peek at who they are going to colleague with and design in, there's really only a handful select group of players that really fill total 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. too the company's DNA is very well aligned to the infrastructure market. They fill a tough combination of IP and engineering capabilities in the company. They fill a 20-year track record in Ethernet, both in switches and in PHYs. They fill deep undergo with processor cores. And they fill in-house IP evolution such as SerDes and others that they control their own destiny on.

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

    At the final Analyst Day, they were at about one-third of their revenue was levered infrastructure. And they said their goal was to rep it to 50% in the near-term. And so, they were able to conclude that actually a miniature bit ahead of schedule through total the drudgery that they apportion 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 tarry markets. And that's only going to increase. And they note over time that this number is probably going to exist much higher and next goal is sort of three quarters, and to preserve 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 traffic and the opportunities there. They got very valuable technologies from Cavium, leadership now in processors, leadership in security, leadership in accelerators. And so, they too brought a very tough presence in datacenter and carrier which they had been trying to build. When you combine that with Marvell strength and enterprise, their end-to-end product evolution capabilities and the operational excellence of the company, it creates a very unique value prop for their customers. They really are getting behind this combined company strategy. And in fact, I would lisp from the customer point of view, the flush of assignation that we've seen since they closed the transaction has been significantly higher than before either company had ever experienced. I imply quite frankly spend a lot of time on the road. I fill personally met with the chief determination makers and CEOs and CxOs of the top infrastructure companies in the world across total of their segments.

    I fill been diligent and I'll just give you one illustration of a story. Three weeks ago, Raghib and I were - had the desultory to present to the gross leadership team of one of the top leading infrastructure OEMs in the world. And the meeting was really to argue a pretty significant multi-year agreement to conclude multiple chips for this particular company and this would exist a relatively a novel 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 traffic for us, I said, Look, I just got to ask, you guys fill gotten to this point on your own as a standalone company? And he said, "Well, conclude 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 total the capabilities." And so that opening now is one of many and you'll some more stories enjoy this today of the power of this combination how that's really translating into significant novel opportunities because they are seen in a much different light now by their customers. And why conclude they like? I imply what conclude they note when they peek at the Marvell portfolio that's combined, what they note is a leader, a leader in key technologies, in storage, networking, security, processors, connectivity. These are total the key elemental pile blocks of what infrastructure companies are looking for. And it's not even that they fill a miniature piece fraction here or there or a piece of IP.

    We actually fill 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 preference for their customers. The combination too with Cavium really creates a much more diverse company, which I deem 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 novel customers that they fill added and how actually while there is some overlap, there's a lot of incremental customers that they fill that Cavium didn't fill and vice versa. They too now are a much stronger and a broader array of tarry markets.

    As I mentioned, they really rep a much stronger presence from Cavium now in datacenter and in carrier. But the breath of the traffic has too increased too. And if I travel back to when I joined the company, I imply probably the separate biggest overhang that we've had and even continues to this day in some ways was the company's overall exposure to the HDD market. Classic Marvell if you travel back two or three years highly levered to HDD. That really created a cloud over the company in some respects. It always was a source of concern for investors. So look, we've taken a lot of worry 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 fill now gotten their exposure today of HDD controllers that sell into notebooks which is really the heart of the concern.

    The exposure now we've got down to about 7% of company total. That's as of today and they expect that that number is going to diminish as they head into the next year and the year after as they grow their traffic and continue their pivot from consumer computing to cloud and infrastructure. I don't deem that this worry that they apportion in has been widely understood by investors. So I wanted to bear positive I called this out because I deem that delineate 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 appealing is their businesses are quite diverse now. So, first, they fill established businesses in their company. This is really how they hasten their company and how they segment their businesses with inside their portfolio. So the first is they fill established foundational businesses. These are businesses where they are the leader today. Two examples of these would exist 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 fill a number of growth businesses where either they are the leader or they are a very tough challenger. And examples of these comprise embedded processors, switches and PHYs, flash-based storage, SSD, and elevated performance Wi-Fi. Now these products are total in growing markets where they fill 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 exist the market leader in their respective segment.

    And then, finally, they too fill several areas of strategic investment. These are novel bets that they are making. And these comprise automotive -- you are not going to hear about these today, these comprise automotive Ethernet, these comprise security solutions for the cloud, which they call Liquid Security, which is a technology they got from Cavium, and too this includes their server processor investment based on ARM. So these businesses typically they leverage IP they fill already got inside the company, but they leverage them into adjacent markets, so they rep a lot of reuse and benefit 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 bear positive that they define the product correctly. They invest in these businesses carefully. They track them. They milestone them, and they bear positive that they are resourced properly to win. And so, when you step back, and you peek at the portfolio of businesses they fill inside the company, it's quite broad and it's quite diversified from an investment profile, and they deem the combination of total these will result in profitable long-term growth with potential upside on the novel bets.

    So, another notable consideration for the combination was scale, and I deem 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 furtive that the cost of developing these advanced node technologies is going up fairly dramatically as companies dawdle to more and more advanced process nodes, and obviously you are doing it to increase performance, lower power, optimize dye sizes, total kinds of benefits of making these node jumps, but they are getting more and more daunting by the day. I deem this is a reality facing pretty much every company if you going to exist 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 deem that you probably requisite to develop about half a dozen chips or so at a minimum in a key process technology, just to fill spread the investment appropriately across total those devices. And so, if you don't fill enough scale, if you don't fill enough of a broad product line and you can't conclude a significant number of novel products on a node, to rep your money back is going to exist 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 fill really had benign of two choices when they - stout systems companies, right, stout infrastructure companies, when they settle to -- that they requisite a key semiconductor component. One is they either want to buildup themselves, what they call the replete ASIC model, or you travel off the shelf and you buy merchant silicon, and typically this is where Marvell has been more in the merchant silicon side with limited on the build side. So build has made sense before, but it's getting to exist 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 bear this work, and obviously it's difficult to conclude that many ICs if you are a separate OEM. And so, that's a challenge for these companies today.

    So they note a third traffic model actually gaining favor. This is a model that Marvell has had for sometime, but they note it applying not just in their storage traffic where it's traditionally set, but too across actually other tarry markets. And this colleague model is -- let me define a miniature bit more, is really the value proposition, look, everything in the gray that you note is IP that they are already developing today to spread across total the chips that they do, whether it's the CPU core, a memory controller, SerDes, total of these different blocks, they are developing these because they are going to exercise them primarily across total of their products. If you are a system OEM, you are just doing one ASIC, you fill got to travel either develop total this yourself or license it, it's very expensive and costly and it's time-consuming. And so, this model really allows us to conclude 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 apportion in space in their storage traffic both in the HDD side and in enterprise SSD, it's been a space for about 15 years, it's been highly successful, because the customers are able to leverage and benefit from total the drudgery that they are doing, that's common across the entire company. And so, the benefit to the customer is obviously they rep proven battle-tested IP that's been in the market, to rep the benefit 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 fill to conclude the entire product. So it's really a win-win for both companies. And they note this is being a very compelling model especially as they fill combined.

    Okay, so let me dawdle to the second fraction of my talk today. So, probably I'm saying, "Okay, this is great, looks nice, it looks enjoy you are pile a nice company here. Everything sounds exciting. How are you going to grow?" I deem that's the question that's on everybody's intelligence today, "How are you going to grow?" So, Dan and Raghib are going to travel into the details, but let me give you my perspective. So the first is that the market forces that are out there are creating opportunities for us. There is a tough tarry market tailwind. The first thing, they can travel back to the final Analyst Day, is that there is an explosion of data that's being created and that too needs to exist 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 rep processed, secured, and analyzed at the edge. And a lot of these applications now, they conclude benefit from real-time decision-making where the data is occurring. And so, more and more they note this tug of the compute actually being pulled towards where the data is created. And so, that's a benefit 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 fill to fill a holistic security strategy to secure the entire data chain. And again, this is one where I deem they can provide significant expertise here to provide robust security total the pass from the datacenter, total the pass to the edge through every point in the network. And finally, total of this has a major impact on overall power efficiency. It's probably one of the biggest understanding 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 peek at total of these combines, there are multiple tailwinds that are in their favor. And so, with that at their back, they deem there are several very unique opportunities where they can bear an impact given that these market changes are happening, that are very specific to Marvell.

    The first is in storage. So, total this data, as I mentioned, it needs to exist stored somewhere, whether it's on detached storage, in the cloud on arduous disks, or it's charged storage on advanced glisten memory technologies. And so, their customers are looking for ways that they could conclude this more economically and they could conclude it faster. And so, as the leader in storage technology, they are in the middle of total 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 fill unique insight and ability to actually influence and impact total of these tremendous disruptions that are going on in the storage industry.

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

    The third one is in the carrier market. And this may amaze you, but Marvell is going to exist 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 fill very, very tough traction in this market, very unique solutions, and to exist clear, they deem that 5G is going to exist 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 fill emerging opportunities. These are some of their novel bets that they deem provide tough 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 respectable progress there. And too 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 fill tried. But there's actually no company that's been able to insert and hold to production a CPU with this flush 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 exist a growth driver for us as well that's emerging. And each of these products is off to a mighty start. And I deem when you layer total these in, whether it's store, the enterprise trends 5G, and these emerging opportunities in datacenter and automotive, they're significant. So let's translate that into the dollar amount, what's the total market opportunity. So at the final investor day, this was for the standalone company, they said total market for Marvell was $8 billion. When they announced Cavium they said that the SAM for the combined company was going to double to about $16 billion.

    And now, we've got the team under one roof, we've been integrating, we've been looking at their opportunities, they went through their gross portfolio review, and I'd lisp the evolution has been -- they deem there's about another $2 billion of market that we're now participating in that primarily is driven, as we've sort of gotten their arms around everything. One is the incremental 5G opening they deem is pretty big. It's going to increase their SAM today. And too 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 shiver the $18 billion down, $3.5 billion today is in storage. This is a traffic where we're the leader today; they fill almost half of this market. This is a stable business. It's profitable, it's growing modestly. But they fill tough share and a tough position, and opening to grow. After the combination with Cavium, networking now represents over $10 billion of SAM today. And this market is growing at 9% a year. They conclude fill a tough position here as well, but they expect to gain share and grow faster than the market. Overall, these two markets combined, they're huge. This is $14 billion going to $17 billion just for the storage and the networking portion.

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

    So let me close. So in summary, the first point is we're planning to grow the company. We're planning to grow the company to exist a leader in the infrastructure market. They fill the scale, they fill a diversified traffic 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 too especially haughty that their team has consistently delivered and established a tough track record of execution that's going to exist very notable as they head into their next facet of growth. And so look, in short, with the team we've got, markets that they are going after, tough customer pull; I strongly believe that Marvell is going to drive ourselves forward. Their goal is to create a mighty company with mighty technology to enable the infrastructure of the future.

    Thank you very much. Dan?

    Dan Christman

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

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

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

    Marvell is number one in merchant SSD controllers. And now they are moving beyond controllers. They are providing innovative novel 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 shiver down a little, you will note the PC space is shrinking at about 5%. They note this is an region that's harder to differentiate, is less innovation, is less requisite for novel functions and features.

    But the Edge in other market which includes automotive, industrial, video surveillance, home gateways, gaming, direct attached storage, this is actually a very highly resilient and stable market. Talking about 1% growth over the next three years, but really the opening is no amaze 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 peek at their revenue here. So if you peek at the classic Marvell storage revenue, which again was HDD and SSD, you can note a couple years ago almost half their revenue was coming from PCs. And you fast-forward it today and you'll note a much more balanced portfolio in the storage traffic for Marvell. But a couple of years out looking just at classic Marvell, you note the PC drops below quarter of their revenue while the Edge and other remains very stable across total three of these snapshots in time. The datacenter becomes very meaningful for Marvell. It actually becomes their largest segment in just a couple of years. When roll in the fiber channel traffic from Cavium and you note that Marvell has become a legal infrastructure storage powerhouse.

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

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

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

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

    If you peek at the aerial density increases that really drive the capacity, you peek at novel technologies, they talk about energy assist final time they hear, HAMR, MAMR, Dual Actuator, multi-actuator, these total hold investment, they hold a colleague that understands how to conclude 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 too talked about in the birth the fact we're going to exist 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 skid not incremental but because Marvell has a tough position in the HDD controller space, we're getting extremely tough tug from their customers to drudgery with them in the preamplifier space. They want partners who are actively investing with them in the HDD space and if you peek at the current wave, that's driving preamplifiers today, it's really about capacity increases due to adding platters in the drives.

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

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

    So these are novel opportunities for Marvell, they add more value and rep more content in these novel arduous drives and what I'm haughty to lisp is that today Marvell is shipping preamplifiers into the market, we've qualified with their customers, their customers are shipping drives in the market with Marvell preamps and they expect this to exist meaningful, meaningful revenue next year for Marvell.

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

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

    So let's dawdle on to glisten solutions. Now FMS which is a very Famous bespeak for the glisten industry, it's glisten memory Summit, it's held in Santa Clara every year, it was final held in August, it was really a coming out party for Marvell, this is their booth here in the show, they came out as a company, they said peek we're more than an SSD controller company. Right, they are a glisten solutions company, we're focused on effectively or more efficiently managing the glisten based storage systems, this evolutions been driven by their ability to leverage the broader Marvell IP to enable novel configuration factors for their customers, novel traffic 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 glisten storage, if you deem about it really started off as an HDD replacement, in the PC space people basically took a two and a half inch arduous drive out, they swapped in a two and a half inch SSD drive, same configuration factor, same interfaces, they went on to novel configuration factors, they lisp peek they don't know necessarily fill to beholding to this HDD configuration factor, they can optimize for their PC. So they apportion novel configuration factors in that were smaller and more space efficient, they did novel interfaces enjoy NVMe which took odds of the actual glisten and optimize the performance and after PCs went through this, the datacenters went through the exact same cycle of replacement.

    But now they're looking for more, they're looking for novel architectures, they're looking for novel traffic models, they're looking for a platform based solutions. From a traffic model in an architectural standpoint, I want to talk about this conclude it yourself model, they did talk about it miniature bit final year but I want to talk more about it today, this is an opening that when you shake off the limits of a arduous disk drive, the mechanical limits of the configuration factor limits and you lisp peek I'm just focused on glisten memory, you really can now optimize, you can optimize for space and power, you can optimize for workloads, you can space the controller directly on your board or build an OEM and novel configuration factor. This is really enabled by the fact that the customers can buy a controller from a company enjoy Marvell directly.

    They can source their NAND from multiple elevated quality Tier 1 NAND vendors and they can build custom firmware. They really optimize this solution for their needs. Now Marvell's uniquely positioned here because we're a merchant supplier. They fill tough and long lasting relationships with total of the Tier 1 NAND vendors. They total drudgery together in strategic relationships as partners to develop these systems for their customers and then once we're on the board they can integrate additional functionality they note this is additional opening for Marvell, you can peek at the architecture can exist changed. And this is basically more content and more value opening for Marvel in this space that this started in a datacenter but we've seen it dawdle beyond a datacenter now in Marvell's one designs already here you'll start to note revenue over the next couple years here it's already a next year because it's benign 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 skid first for you, you note this gray box here is the SSD controllers. They ship those today; will continue to ship those in the future but this red box is novel 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 travel beyond PC centric configuration factors to datacenter centric configuration 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 tarry up either with limited capacity or limited performance.

    So Marvell's now insert novel aggregator, NVMe aggregator chips that basically even hold in seamlessly stitched together multiple controllers or multiple SSD drives and present them as a single, elevated capacity, elevated performance drive enabling novel configuration 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 glisten storage at a flush above the drives which means are putting management benign of at the host. I know when you peek at doing that you lisp well conclude I want to apportion that on my CPU and squander those cycles I could exist renting out and the concede is always No.

    And I deem a Rag will talk about accelerators later but here they fill storage accelerators. And these accelerators basically will conclude functions enjoy compression, redundancy, security, IO virtualization and multi tenant systems and offload the CPU to befriend more efficiently manage the glisten storage, it allow that cloud datacenter customers to rent out those CPU cycles. The final illustration here is a revolutionary architecture that they actually announced to at glisten memory apex is an ether net bunch of glisten they call it the eve off.

    And this is an end-to-end chipset for Marvell that includes their controllers, it includes their NVMe converters and too pulls in content from their networking group on the Ethernet switch side, if you peek at traditional server based storage in a datacenter when you want to add more storage you fill to add more compute they travel together, prerogative in the Eve off even essentially this aggregated these, are you able to scale up your glisten storage independently creating a elevated performance rack of flash. Now this is connected over the Ethernet so it looks enjoy its local, if you peek at latency is in performance it appears to exist 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 poor lot of interest in this novel architecture. So the opening in the glisten market for Marvell is huge prerogative if you peek at their classic controller traffic 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 novel features and architectures. This novel Sam on top here is actually growing faster than the overall controller traffic so they tarry up with a 19% total CAGER for a glisten 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 fill some traffic here already it's relatively small but it's growing and going forward they talk about their SSD traffic will really start talking about their glisten solutions traffic with SSD as fraction of that traffic so you can note here how this total comes together. They recognize the opening in datacenter early. They aligned their R&D resources towards the datacenter. As they continue to execute on this pivot to exist a provider of optimized solutions for the datacenter, you can note how this dramatically shifts their revenue profile.

    These segments are becoming more and more meaningful. They started about a third of their business. Now it's half of their business. A couple years from now it'll exist three quarters of their business, so I'm going to summarize one more time for you. We're leading from a position of strength in total 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 novel and exciting innovative architectures to befriend them more efficiently store and manage their data.

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

    Raghib Hussain

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

    Ashish Saran

    Hey, folks. We're going to rep started, so if everybody can hold their seats. total right, so we're going to rep the program going again. And it's my tickle to insert Raghib Hussain, who will hold you through their networking business. Raghib?

    Raghib Hussain

    Welcome everyone. It's respectable to note so many intimate faces and the novel ones too. It has been a diligent year, replete of excitement and a lot of potentials. I'm very excited to exist fraction of this novel combined company. And I'm fully committed to hold it to mighty success. Let me expose why I'm excited. The potential that this combined company holds far exceeds what they had at Cavium. Now, just to give you a background, I'm founder of Cavium. And at Marvell I am Chief Strategy Officer and running the networking business. The scale that they fill in this combined company, the breadth of product portfolio, and the engineering knowhow, it is just incredible.

    What excites me most is the team, the technology, but most importantly the innovative products that they are working on. And I'm going to share total those detail with you today. But to launch with, they are tough in enterprise, and growing. They are very well positioned to exist 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 peek forward, let's start by taking a peek what is going to drive the growth in infrastructure, the spending in the next generation in the global markets. Exponential increase in devices is generating a massive amount of data. This data needs to exist processed to generate value.

    Now, appealing characteristics about this data, that it is perishable, it means the sooner you extract the value higher the value is. In a traditional architecture this data was generally generated by devices and brought to some central datacenter for processing, call it a cloud. Now, because of the sheer volume of this data it is not feasible, and in many cases impractical to bring this data to some central devices -- central datacenter. And a big percentage of this data is used by the application which is censorious 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 exist processed instantaneously for car to bear censorious decision, enjoy it has to apply the breaks. Now imagine if total these data was conjectural to travel to some central cloud for processing, it would fill been disastrous situation. So the network is morphing out of necessity and it is becoming more and more distributed. In other words, they will fill datacenter not only in the cloud but too in the enterprise, in the carrier, and too at many of the edge devices. So if you really peek at it data has got gravity. So instead of pulling data towards the compute, data is pulling compute towards itself. total these trends are massive opening for Marvell.

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

    Our product portfolio has a big growing addressable market. They fill 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 fill $4 billion SAM for ARM server processor, which is growing at a higher CAGR of about 14%. So, total in all, their SAM CAGR is 11%. Here is another view to peek at their ground $10.5 billion SAM mapped to their target ends market. As you can see, it is fairly distributed across total 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 tough position in enterprise. It is about $2 billion market, and they fill about 30% share. Enterprise SAM growth for us is higher than the overall market growth, and it is because we're expanding their market share through novel design wins. final time, in 2017 investor day, they talk about upcoming enterprise upgrade cycle and how Marvell is positioned to champion upgrade from a gigabit to a multi-gigabit driven by the bandwidth needs. As you can note from this chart, the IT upgrade cycle is here. IT budgets are expected to grow driven by the needs of either upgrading the outdated equipments or by the security concern. It is just getting started. And consistent with these cycles of the deployment of the infrastructure equipments, upgrade equipments, they expect it to continue.

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

    With the combination of Cavium, now they fill a complete product portfolio from access to aggregation to core. And that will continue to drive their share in enterprise. Their merger brought together a complementary strength that enable us to provide complete solution for their customers. Cavium was tough in aggregation and core, and really the processors, and Marvell is tough 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 colleague for their customers. Their complementary customer ground is too a tremendous value for us. For example, Cavium had significant presence in some large-carrier OEM as well as big server OEMs, where Marvell did not fill 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 too in those tarry customers. So let's hold 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 determination are generally made first. Before, neither company had the complete solution. Cavium had respectable 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 same 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 bear their determination upfront to bring the prerogative solution. They fill already started winning designs in this area, and there are plenty to go. This is another example, Marvell is tough in switch and PHY but they did not fill many core processor to address the needs of aggregation and core. Now with the combined company, they fill complete platform with a switch, and PHY and a processor and the platform solution serving the needs of their customer from access to total the pass to core.

    So you can note the combined IP and the product portfolio that Marvell and Cavium bring together uniquely position us for tough growth in enterprise. On top of that, they are in the upgrade cycle, it has just started. And they fill the rich product portfolio with the latest feature to preserve 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 strength for us which will continue their growth in enterprise market.

    Let's dawdle on to datacenter. As novel compute models are established they fill multiple high-growth opportunities in datacenter. Cavium has had a tough presence in datacenter through security and networking services offload. It is about $2.5 billion market, and they fill about 10% share. In addition, the ARM server processor in datacenter has about $4 billion SAM. We'll argue more details about it in subsequent slides. They total 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 total know there's a novel trend, artificial intelligence, and they will argue more about it. Marvell has been market leader in providing efficient compute security and network services offload for over a decade. If you peek at any enterprise security or network appliance, and if you open it up, you will note that OCTEON and their NITROX processor are in it. When it comes to security and the data plane processing Cavium has been market leader for over a decade. In cloud, security and network processing requirements are changing and it is getting distributed as they talk about. And as a result, these are implemented in every node, but there too you requisite the similar nature of acceleration. Marvell's Liquid Security product lines are designed and very well positioned for that market.

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

    Server for datacenter is a huge opportunity. It is about $16 billion TAM, and they expect that ARM servers can address about $4 billion TAM. Marvell Thunder 2X is the first Xeon-class processor. When I lisp Xeon-class processor, it is really the dual-socket ARM server processor which has the performance as well as memory bandwidth and hasten and connectivity of a really Xeon class which can exist used in a common purpose server application. They fill wider software and hardware ecosystem. ThunderX2 platform has gone in production in July, and they are engaged with several HyperScale tarry 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 hold a peek at these recent announcement by their customers, several customers fill announced platform based on ThunderX2, and then there are several independent third-party analysts fill 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 lisp about ThunderX2, "In short, ThunderX2 is the first SoC that is able to compete with Intel and AMD in the common purpose server CPU market. And that is a pleasant surprise. At last, an ARM server solution that delivers." They are seeing a respectable traction in this market, and they expect it to exist long-term growth driver for Marvell.

    Now, about artificial intelligence, they total know artificial intelligence is the next -- is the novel gold rush out there. It works just enjoy 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 peek enjoy this is a bottle, by different types of bottle, the perfume bottle, the wine bottle, and so on and so forth. So that fraction of the neural network is called training and learning. And then when they note something that peek enjoy a bottle their brain predicts that it is probably a bottle, that fraction is called prediction or inference.

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

    Now what they are doing now, they are pile a purpose-built inference processor. Size properly, for volume application, application of scales, so that it can plug in every server and every edge devices. That is a low-power that is a programmable solution to adjust the evolving neural networks needs. And it is too 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 fill been working too closely with the ecosystem, you must fill seen news related to glow compiler initiative driven by Facebook. It is an initiative to really standardize the inference usage. They note AI a multi-billion dollar market opening for us and a censorious office 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 preserve you updated with the progress that they make. So let's hold a peek at Edge and other related areas, the Edge and other region 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 fill about 14% share. If you hold a peek at total these products, Marvell has been present in total these products for many years, a major result of the data economy is that the trend that compute is moving towards the edge, towards total devices.

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

    It requires a specific quality as well as supply chain requirement. Over time, they fill 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 exist moved around in the car at a gigabit hasten and car can bear sense the wall around it and bear 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 fill included this SAM in their overall SAM and they note it about half a billion dollar opening and this is growing at a speedy pace.

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

    In fact, they are the leading market silicon supplier with end-to-end capabilities. From DSP, baseband processing for ARM multi-core processor, for control and data plan, for ARM SoCs, from security, Ethernet connectivity as well as software for the complete solution. They not only fill total the censorious pile blocks but over time, they fill established ourselves a credible supplier to deliver elevated performance platform for baseband applications. This makes us a very attractive silicon colleague 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 offer baseband processing in addition to transport processing.

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

    Now in 5G with the key requirement, they fill two Octeon processor in the ground main card and typical configuration of 5G has two line card and each one fill not only a three baseband processor but too Octeon processor. Now just enjoy in enterprise playing through the combined portfolio, they too fill a switch and PHYs in this ground station application. Translating it into what they total custody about in 3G, they had a content of couple of hundred dollar in the ground station, in 4G they increased by three to four times and 5G they are going to increase it another 4X. It means that the ground station shipped by their OEM partners is going to fill the content which is quadruple in 5G compared to 4G. But there's more, if you peek at the number of OEM providers in 3G timeframe, carrier had a preference to choose from a big number, typically carrier choose 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 big countries of the world are limited to preference of only three OEM providers as they are engaged with total of them. So if you hold a peek at this chart, it bespeak 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 ease of the countries will result from here.

    Carrier infrastructure deployment cycles are long, it's a long-term business, if you hold a peek at let's lisp for illustration 3G it expand over a decade, the carrier are silent OEM are silent shipping ground station for 3G. 4G had a keen RAM driven by the bandwidth needs of the applications and it has had a respectable run. They expect 5G to fill similar RAM driven by the application needs of the various applications that are driving 5G deployment.

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

    We are tough 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 hold 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 artificial 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 too committed to the long term growth. Thank you very much. I'd enjoy 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 respectable to note you total again, it's been a lisp six quarters since they were final together. As you can note this is a very different company. Today than even six quarters ago when you guys were final here Dan, Raghib, Matt talked about a broad portfolio, focus on the infrastructure market a lot of attention from customers and you're probably total sitting there going yes, expected you to lisp that today so what are the customers fill to lisp about this and so that's why they asked me here today to benign of give you the perspective from the customer side of how this acquisition is being perceived and how this novel company has being perceived.

    Okay, so as you remember when I was here final time. It was March 2017 they were total in this margin together it was snowing outside and I had been with the company for about three months and I told you total I said peek in order to rep this thing on track they first order a traffic is to align the sales and marketing office with the strategy of the company at the time, okay and I said these are the things we've got to conclude and what we've got to conclude quickly, so what it would how we've done what they conclude here, so I talked about a coverage map in the first thing I had to conclude was build a team, so I rebuilt my entire staff and then they drove that total the pass down to the bottom flush probably about half the people on my staff fill worked for me before they understand my system.

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

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

    We did the entire appliance flow. They focused on solution selling and they really kept the organization hybrid to extend their gain with the variable expand sales favor of reps and distribution that they have. THEY talked about account penetration. They fill maintained total of their top accounts and as a matter of fact we've grown their top accounts from the Marvell side since they were final here. They grew some novel 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 miniature bit more about that later but we've got a very respectable account list going forward and we're continuing to drudgery their relationship matrix and expand their relationships up and down we'll talk a miniature bit about some of these actual meetings and a miniature 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 effectual manner, driving into their website, cleaning up their website adding a lot more material content to it total of this stuff has resulted in a lot more activity and a lot more novel customers coming to us. They basically looked at and examined their public relations and trade shows strategy making positive they got maximum return on money spent there and they instituted quarterly reviews with the traffic units to bear positive that they had a marketing cadence for novel product introductions and marketing activities every quarter so a lot of drudgery on the marketing side.

    I talked to you about traffic evolution and I told you that traffic evolution in my world was two things creating preference and awareness at the tarry customer for Marvell products and pile 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 conclude they do, so the first thing they did was they built out their automotive BT BD office when I was up here final time you guys didn't even know they had an automotive traffic within three months of being up here final time, they had introduced the world's first gigabit secure gateway for the cars and my sales organization was overwhelmed with the activity coming in and total the design activity that was happening with that product line.

    We now fill complete coverage in total 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 fraction participating in pile out their service provider organization and we're cultivating a lot of strategic partners in the industry that they requisite in order to continue to travel forward, people enjoy Nvidia with the automotive market, people enjoy Intel they fill strategic relationships with as they travel forward, so they did total 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 total 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 positive that they were going to assemble the best organization possible.

    We spent time looking at total the appliance flows to bear positive that they were going to hold tools the best tools from both organizations and exercise them to create a best in class appliance tide for the company. And so on July whatever it was when the transaction actually close, they immediately instituted a program. Today they fill 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 respectable mix 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 rep these guys moving quickly on selling the novel merged portfolio.

    And they did a recording of total that so that EMEA and Asia at least until they can rep out there doing things in person had training as well and they could actually participate online tools and systems are merging now, will exist actually introducing the merged system within literally within a couple weeks and for those of you who know me in my world, in the world of SoC semiconductors I view value as design wins, design wins are the lifeblood of this company and so starting in the next fiscal year everybody goes on the same pay plot 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 bear it on a regular basis.

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

    Yes, they got slides just enjoy that yes they were too extremely surprised by the breadth of the intellectual property and every one of them to a customer acknowledged a desire for a deeper and broader relationship with the company and so they really told the, there are their customers and they are out there we're pile a company that thinks ahead so you can too and you heard that in the video today very well received by the customers. Now you know I'm going to hasten the risk of offending the animal rights activists in the margin again. I showed this to you guys final time and I basically said peek if you want to enmesh stout fish, you've got to fish where the stout 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 return of expended sales and marketing money that I can deliver to the company.

    We fill to win the largest customers in their chosen markets first, the ease 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 exercise the broad portfolio in a collaborative way; we're going to unravel their customer's problems. They fill actually built the company the customers enjoy and want to conclude traffic with. So where are these stout 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 shove their pass into that top 10 over the next couple years.

    All the top accounts are direct but we're silent investing in the channel, things enjoy putting deploying an FAE certification program this past year flush one flush two, so that FA's are tested literally given a written test basic scholarship flush one, basic advanced scholarship to champion products flush two and flush two actually has pecuniary repercussions for the distributor, so they're motivated to continue to add champion and add resources to their product line. So hold a peek at this list Enterprise carrier datacenter it's a who's who of blue chip customer list if you want to conclude traffic in these markets and these are not aspirational customers, we're doing traffic 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 enjoy it are doing that that data is being filtered at the core learning is taking space and it's going back to the edge the data gravity that that Raghib had actually explained to you. And so as they came into this thing with that gigabit gateway that they introduced final year, they started doing traffic with everybody on the planet who you want to conclude traffic 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 custody about, so you can note a number of up there from if you Chrysler to Ford to G.M. to Bosh to B.M.W. We're working with every one of these companies prerogative now.

    So it's a very tough customer list okay, so we're really using this IP portfolio in this industry. To provide platform solutions using springy traffic models to unparalleled champion to exist a valued colleague to their customers. We're literally selling these technologies into these markets okay, so how is this playing at the customer's Let's hold a peek I will travel through three examples of actual customer meetings on how this portfolio is creating tremendous amounts of opening from one side to the other okay. So this is a this is a datacenter platform if you deem 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 charged storage for their storage arrays. They are working with them on some of the datacenter glisten 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 configuration 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 fill to read some of the comments he made, because they were more astonishing 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 increase the traffic relationship with Marvell." typical sales guy, CEO sits there and says, "It's in their interest to increase the traffic relationship with Marvell. This doesn't suck. This is a respectable thing." Okay? "It's much better than you guys think. You can't execute me -- web paper bag, don't call us, they will call you."

    So I literally wrote that one down, and they continued to drudgery with this guy, and they are talking about total of their products and how they map into his products, how they can conclude more traffic together. And he says, and I quote, "We requisite to fill this flush of fidelity around total things Marvell is doing." Again a quote that I benign of enjoy as a sales guy. And so, they literally walked out of there. And the top lieutenants at this company are watchful of the fact that this guy wants to basic fill a broader relationship with this novel expanded company, and they fill 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 total 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 benign of -- he was benign of acknowledging, you know, they are sort of very censorious to each other at this space as 5G market acknowledges. And he proposed that maybe they want to deem having a written agreement, a multi-year supplier agreement where they could preserve focused on each other. Again, as a sales guy, they fight tooth and nails to rep these multi-year supplier agreements, rep customers entrust for long-term. And they got a customer proposing that they sign this agreement so that they could tarry focused on them. So, very, very tough relationship with these guys, this relationship is moving forward in a very respectable manner.

    And finally, they will talk about enterprise. You peek at enterprise, and in enterprise you got access, aggregation, and core. The accesses were the -- the humans interfaced to the network aggregations where they total aggregated cores where total 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 enjoy 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 traffic 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 traffic primarily in the core with ARM-based CPUs and security processors and coming this way, so that they benign of met in the middle. And during this meeting, the CEO is acknowledging the broad portfolio and how censorious they are to their traffic going forward, and he asks Matt for a favor, "You know, I requisite you to rep this one product moving a miniature bit. They got customer commitments. Can you befriend 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 traffic 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 fill everything it takes to conclude it technically and fill the pricing and the requirements of the customer needs but getting a miniature phone call from the CEO motto hey how is Marvell doing in this switch opening socket, certainly doesn't harm when they are actually competing in there and so these types of things preserve happening, they preserve 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 flawless example. These three examples that I've given you are flawless 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 lisp this portfolio is very valuable to us. They want a broader relationship with you guys. Okay, so just to benign of wrap it total up, we've been on a journey, the first 11 months they took sales and marketing apart, they apportion Humpty back together again.

    And then, they did it total 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 conclude traffic with and everyone is excited about what they had to offer 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, novel 11 lens Marvell on the other, but Jean cleave my budget again. I didn't fill the money to conclude it. So best I can conclude now, lisp thank you for listening, and insert 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 prick up. So as you can see, it's a truly exciting time to exist at Marvell. Their team talked about the tremendous opportunities they fill ahead of us and that they too talked about how they build a complete infrastructure portfolio to address those opportunity. So well how conclude they spend the next minutes to tie together what you heard of this morning without pecuniary model?

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

    And then, Dan talk about how they drudgery with the customers, create innovative solutions in the storage market. So when you hear total those that's enjoy music to CFO's ears and I'm pretty positive you are total treasure it too because what it means is only build their pecuniary model, it's predictable revenue stream, elevated and the stable grievous margin and the long -- and the consistent of free cash tide with a higher terminal value. So those are the characteristic of infrastructure market, and too means in their pecuniary model, they actually don't fill so many what if assumptions which are focused on asylum and parameters enjoy 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 conclude a quick recap of their pecuniary performance. Secondly, I'll argue their long-term pecuniary model and underlying assumptions. Third; I'll talk about what conclude you custody most is the capital return. Matt showed you this charter earlier about their pecuniary performance since the final Investor Day. I'll provide you a miniature bit more details to bespeak you as a company, how they fill fundamentally changed the structure of their traffic model.

    So just as a quick reminder, the gross management team, joined Marvell after Q1 fiscal '17 and that time Marvell was a company that served a broader role for consumer and the market. The grievous margin was low 50s. It's actually quite consistent with the consumer semiconductor companies. The company too invest in big amount of R&D in total different benign 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 peek at the operating margin back then, its barely single-digit.

    So during the final two-and-a-half years, their team really pivoted the traffic into the infrastructure market. As you fill heard from total 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 tough execution, they expanded their grievous margin from low 53s to 63.5, 1000 basis point increase, it feels really respectable to lisp that because you don't rep many opportunities to lisp you increased your grievous margin by 10 percentage point.

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

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

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

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

    Now on the glisten solution business, it's very exciting for us. Dan talked about the continued expansion to cloud enterprise datacenter. This traffic design cycle actually it's very long, if you can recall Dan's charter to peek at the percentage of revenue they are going to increase 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 conclude note revenue continue to grow driven by those opportunities. More importantly, they are very excited about the design wins their teams are working on to address big opportunities in both emerging embedded solutions and the glisten solution market. So, overall, they continue to expect their glisten solution traffic to grow inline or faster than market in the long-term.

    Now let's switch into networking, the most exciting element of their growth story. They conclude expect their networking traffic to grow faster than market at the low teens going forward. Both Raghib and the Tom talked about the exciting opportunities they fill ahead of us. At the highest level, if you peek 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 exist in line with the market.

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

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

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

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

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

    And so, the next one is Hyperscale ARM server adoption, so in their baseline model, as I said, they only comprise the design wins with the OEMs, you know some of the testing chips, any major hyper secured datacenter adoption is not in their current model, so there will exist upside the too. So as you can see, they fill a lot of the exciting opportunities ahead of Marvell and their team is working really arduous to execute because total 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 too talk about their operating expense model. So they reached their synergy to $200 million during their final earnings call, then they got the questions about why it's so high, why it's so high. So you guys never had, so now let me define to you why they achieved, they are going to achieve $200 million synergies.

    So this is about 8% of the total company's spend which comprise both the cost of sales and operating expense, which is actually within the range of previous transactions but it certainly powers the high-end. The reasons they could achieve with these kinds of unique synergies because they conclude fill 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 traffic and a lot of you know, those are very big investment. So their team worked extraordinarily arduous to consolidate the roadmap. So in each business, they choose the most competitive roadmap going forward which they tarry 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 too very significant for us. They fill a lot of overlapping offices across different locations, they can consolidate, but the most unique one is they fill their big Design hub and headquarter located nearby to each other and one of us occur to fill actual space. So they actually they are going to exist able to dawdle the gross Cavium headquarter and the big design team to Marvell's campus without increase in any space that consolidation is very efficient. So they fill been able to reclaim 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 peek at their synergy execution timeline. Their team actually is executing ahead of time. On grievous margin side, they expected to achieve $50 million synergy which was started in Q1 fiscal '20 and over time to ramp up to achieve the total $50 million synergy. As they peek at their grievous margin, they guide their Q3 as combined the company grievous margin to exist around the 64.5%. So if they achieve their $50 million synergy target, they will exist able to rep it to around 66% grievous margin.

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

    So when you deem 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 exist between 6% to 7%.

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

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

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

    So when you apportion total together to peek at their long-term pecuniary model, they expect to deliver top line revenue growth in their baseline model to exist at 6% and 8%, they expect their grievous margin to exist greater than 66%. On the operating expense side, they will bear positive they increase OpEx less than their revenue increases to rep to the leverage model. So operating margin, we're expecting to exist greater than 35%.

    Our free cash flow, the company has a very elevated free cash tide 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 tide conversion model, they expect their free cash tide to exist approximately 100% of non-GAAP net income which is about 30%. So when you peek at this model we're pile which is focus on infrastructure market, that's why they can fill this benign of a fundamental economics behind their model.

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

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

    As a company, it's very notable for us to maintain their investment grade because they really want to invest for the future, so they want to fill ample access to that market at very reasonable cost, invest through economic cycles and too hold 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 deem of between their debt reduction plot and their EBITDA expansion they will exist able to achieve 1.5 times grievous leverage ratio in the next 18 months in the next 12 months.

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

    In the near-term, let me talk about their priorities, first their traffic is generating significant cash tide even prerogative now, so they conclude deem they can maintain their dividend flush and started to pay down the debt, the flush for debt reduction is going to exist modified with their share repurchase plan.

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

    If you peek at their long-term target model, if they can achieve their long-term target model, they will note huge upside. So in summary, when you deem about the Marvell, they are very well positioned to address very big opportunities in the infrastructure market space and that they fill a very powerful traffic model with underlying tough fundamental economics to drive long-term cash flow. And they too fill a tough pecuniary position and a tough pecuniary flexibility, so they can both continue to invest for the long-term and then return cash to shareholders.

    Before I invite their team to foster up for mp;A, I just want to hold this opening on behalf of their gross team to really thank everyone for your interest in Marvell and too thank their long-term shareholders for your tough champion through their journey to build really mighty company. Their objective is to build the traffic 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 foster up for mp;A.

    Question-and-Answer Session

    A - Ashish Saran

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

    Matt Murphy

    He has got the mic.

    Ashish Saran

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

    Unidentified Analyst

    Right here.

    Ashish Saran

    Okay. Yes.

    Unidentified Analyst

    My apologies. Thanks for taking my question. I had a couple of questions about the -- some of the products of Cavium that were rationalized or decided to -- you started to stick with. So first with XPliant, what inside of XPliant from an IP perspective helps to preserve product line maybe in the core enterprise tarry market, and then as well moving into the datacenter tarry 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 total the R&D cost already, you decided to roll the dice, or is it indicative of the product having some respectable long-term growth prospects?

    Raghib Hussain

    Okay. So when it comes to XPliant product line, it is combining. They fill 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 same market. There are few areas -- blocks in XPliant, which is very interesting, for example, a springy capability of springy parcels [ph] and the gross aspects of visibility and programmability, so being able to really fill the capability to view the packets through the network and so on. So they fill taken those thing and they fill merged the two architecture in the subsequent architecture. So that was the thought process behind XPliant.

    Matt Murphy

    I'll give a quick observation on Thunder. I imply I fill 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 preserve going forward I wasn't raised that way, trained that way, nor believe that. So they very much peek at that opening as on the go-forward, and what's the market opportunity, how is the traction going, what's the customer adoption and total 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 mighty progress, and that's how they umpire total 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 final few months there was a lot of consternation about the Cavium revenue level. I know you went into mighty deal to detail in your final conference call about that, but any updates as to either the exact side or the channel rationalization side that they can peek at going forward?

    Matt Murphy

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

    Ross Seymore

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

    Matt Murphy

    Okay, great.

    Ross Seymore

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

    Raghib Hussain

    So, with their already design wins and the lead customer, they are expecting revenue started later fraction 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 too pointed out, they are actually heavily engaged with the lot of other OEMs. So they are actually in a very respectable position to win additional design. So, their current ground plot does not comprise any of the additional design, or does not comprise actually additional market share gain by their lead customers.

    Blayne Curtis

    Thanks, Blayne Curtis of Barclays. Two questions for Raghib or Matt, this is the first time you've mentioned that AI inference product, if you can give any notion on timing of that when you bear 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 fill been working on this, I deem you said two years, why you decided as Mike commented, to travel forward with the product? And then, just following up on Ross's question on 5G, if you did win on these next-gen 5G ground stations, just may exist 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 peek at this gross market, as I mentioned earlier, there is a gross benign of goal, right, sort of -- I deem everybody is trying to really chase the stout 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 requisite a solution which is really designed for a scale, right, and that is why they -- when -- just enjoy always that they did in Cavium as well, they institute not only that they deem that way, but other stout customers too deem that way, and that's how they started working with a nearby partner, and that's why we're developing the part.

    Matt Murphy

    Maybe I'll just add, I deem we're well-positioned there as well, because in the tarry when total these chips are available and total the benchmarks are done, a huge consideration I deem of any infrastructure company that's going to deploy AI processing into their hardware, into their systems, is going to want the same dynamics that they described today, you know, big supplier, viable, focused on the tarry market, track record of execution. And so, I deem that's going to tarry up playing to their strengths, but as Raghib said, it's an lively 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 deem 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 big that it's arduous to really -- you could rep third-party reports, so they prefer to execute the project, benign of drudgery with their customers, and as they bear progress miniature bit enjoy they did with automotive Ethernet, then comprise this at a later date in terms of the SAM and the opportunity…

    Raghib Hussain

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

    Blayne Curtis

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

    Matt Murphy

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

    Karl Ackerman

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

    And I guess as a follow-up, how they deem about both the trajectory and potential competition between yourselves and the total glisten array providers as your Ethernet bunch of glisten seems enjoy a mighty alternative for NVMe over fabric arrays? Thanks.

    Matt Murphy

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

    Karl Ackerman

    How sustainable you deem the premium of your NAND controllers will remain above arduous drive controllers?

    Dan Christman

    I see. Okay. So I deem 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 novel features, functions, and rep a higher value out of those. Certainly in the notebook or PC space, you'll note transitions as you change interfaces or -- but that's more difficult in that space, and that's why we're focused more towards the other end.

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

    Jean Hu

    To add to what Dan said, right, remember in the glisten controllers that they design typically takes three years to design into the customers, walkway the customers, tough 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 peek at the more commodity nature of pricing, that has nothing to conclude 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 miniature bit about the desire of NAND glisten providers to actually rep into the controller market, and how you note sort of the merchant controller market, market share developing over time? And then Matt, as a follow-on or second question, you haven't included Cavium synergy -- revenue synergies into the forecast, can you just talk about where they should note those synergies first? I know in the past, you've talked about, for example, Cavium using other people's PHYs and that sort of an light switch, how conclude they deem 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 plumb 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 traffic with those customers. They continue to drudgery with them on certain traffic models. So I deem it's a natural fraction of the evolution of that market. Clearly on the conclude It Yourself models and some of the stuff we're doing at datacenters, you've got to remember that they're going to focus a lot of their investments on some of the higher volume segments, but yet when you requisite some of the IPs and when you peek at going from lisp 28 to 12 to seven nanometers doesn't that benign of bespeak that graph of how much expenses that gets to be. Marvell leverages across many, many chips. So there are certainly segments that build conclude stuff themselves, there are segments where they will work, they will buy something directly from Marvell, or working some of these colleague models and the traffic models that -- again that showed. So I deem it's something that they deem when they peek at their models, whether it exist the SAM or the revenue.

    Matt Murphy

    Yes, just one quick observation on that, I deem they fill been operating in that environment since I joined. I imply they had -- I deem the first month I was here, they had a management consulting company offered to conclude a free month of drudgery for us, you know, to befriend us rep 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 peek at the data," and of course that would fill been a horrible decision, because that became a hugely notable traffic for the company. So I deem they are going to co-exist and I deem as Dan mentioned, it's going to exist different traffic models.

    On the revenue synergies, the stout opening there really is the design wins. I imply there are -- there is not a lot of discretionary traffic they fill in their portfolio, and I deem that's actually a respectable 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 deem that's a challenge, right, but I conclude deem 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 gross system solution versus just selling a chip. And the pull-through is very strong. When you fill a processor, you know, a tough processor portfolio, it does enable you that sort of insight into the decision-making on the board at the earlier stages. So I deem that's really where you should about it, and I deem to the extent they are successful in doing that, then they will just shove their revenue growth long-term at the higher tarry 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, befriend apportion their intelligence at ease about how are you seeing just the broader psychodynamics play out? But longer term, give us a bit 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 hasten as one smooth company, with one united front of customers, so that they can exist assured that there is going to exist the prerogative execution behind some of the targets that you fill laid out? Thank you.

    Matt Murphy

    Sure, great, great. Two questions, so, yes, the first one I deem is pretty interesting, right, to host an Analyst Day in the middle of -- about as boisterous an environment as they fill seen in a longtime, and I deem total 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 total that are going to be. They are silent working their pass through that. I deem on the PC one, I deem to the extent that there is -- they are downstream from that, right, so I deem the best source of information would exist travel talk to the PC makers, or even the drive guys, right, and they are two levels removed. And so, they are going to just react, depending on what happens, but you certainly deem any shortage there has to exist short-term in nature just because at some point there will exist enough PCs to supply the world, I deem the world without enough PCs doesn't bear sense to me. So I deem they will drudgery through that issue, okay? And they will deal with it.

    I deem on the integration, I will bear a few comments and then maybe I will let Raghib observation too since he came from the Cavium management team, he befriend build the company, but they are very far long in integration. I deem the fact that -- I imply I showed the picture for a reason, they were very purposeful and solicitous about the fact that it was a different culture and a different benign of company, and I deem 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 benign of how they hasten their business.

    Our point of views has been very well-received. I deem -- and they fill really -- I deem integrated them well into their system, I imply the fact that they did this portfolio review, which is really one of the most notable processes they fill in their company. They spend a gross 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 befriend us review the gross combined set of businesses. And then at the tarry they made decisions about how they are going to earmark their resources, you know, these guys are smart, right, they rep that. "Okay, wait a minute. This traffic is really not making as much money as they thought," or this one looks enjoy it doesn't fill enough resources, or you know, and so when you actually hold the tough technical acumen of Cavium and you combine it with the tough pecuniary acumen on Marvell, they view that as a very intertwined capability in their company. I deem it's been very well-received. And so, the final point in that would exist Tom has brought in the sales organization, they are pivoting from benign of commission-based, design win based, right, from an operations point of view, Andy Micallef, who is their leader there, he has done a mighty job in driving Marvell's operational excellence, right, that gross team now reports with him. And I deem people note the benefit to running it this way. So, maybe Raghib will give you a observation since you are…

    Raghib Hussain

    Yes. So I want to lisp overall integration is going on very well, and let me expose you although at outside it looks very different company, but when it comes to core engineering DNA, what company has similar DNA? They are arduous working and engineers focused to create in a pass to create value out there, right? So that is a respectable 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 rep together, device 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 travel and things enjoy that. So, total those decisions were very inclusive, and the team really feel like, "You know, I did fraction of the overall thing." So, not only at the top level, but too at various engineering flush and so on. So, overall environment is very, very benign of cooperative. They note the value of overall objective-driven and goal-driven pass in which actually, is really appreciated by a lot of folks in the Cavium side as well. They conclude 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 same time, it is not that -- you know, entrepreneurial thing is benign of smash or Kill at all. I imply if you really peek at nature of products they talked about today, I mean, they are investing in a lot of mighty potential innovative products, right? So, I would lisp the overall thought-process of being innovation-driven and being leader in certain areas is too appreciated on overall management side. That is working out very well.

    Matt Murphy

    I mean, hold one final question before they requisite to wrap up.

    Quinn Bolton

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

    Raghib Hussain

    Okay. Should I hold that? So first of all, I thought you guys in finance can conclude 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 conclude 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 moving data you know, ply data by the ground station, bandwidth is much higher, and as a result of that, you requisite switches which is at a much higher bandwidth flush 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 fill the desultory to network a miniature bit more with the executive team there. So, thanks again.

    SeekingAlpha


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