YOKNE'AM, Israel, June 12 (UPI) -- Semiconductor manufacturer Marvell Technology Group will hire 100 engineers and R&D personnel for its Israel office, the company said Sunday.
The Santa Clara, Calif.-based company already counts 25 percent of its workforce -- 620 employees -- as working in Israel, according to a report in the Israeli business newspaper Globes.
Marvell's Israel holdings include Marvell Semiconductor Ltd., which it acquired in a $2.5 billion share swap transaction, and Radlan Communications, which it acquired for $134.7 million, according to the report.
First-quarter earnings for the company rose by 42.9 percent over the corresponding period in 2005 to $521.5 million, according to a company statement released in recent weeks. The company also increased its revenue guidance for 2007 due to "the expectation of a further increase in the Wireless LAN market," according to the Globes report.
"The strong growth has had a substantial impact on R&D operations in Israel," the company's Israel vice president and general manager, Eliaz Lavi, told Globes.
"We need a large number of excellent engineers and R&D professionals, since our R&D activity here provides the foundations for most of Marvell's newer products, while maintaining a strong level of integration between our center and the group's R&D operations in California and other countries," Lavi continued.
