M&A - Marvell Technology, Inc.

Form Type: 10-Q

Filing Date: 2025-05-30

Corporate Action: Acquisition

Type: Update

Accession Number: 000183563225000117

Filing Summary: Marvell Technology, Inc. reported its financial results for the quarter ended May 3, 2025. The company’s net revenue reached $1,895.3 million, a substantial increase compared to $1,160.9 million for the same quarter of the previous year. The gross profit stood at $952.4 million, significantly improving from $527.8 million year-over-year. Operating income was noted at $270.6 million, while there was a net income of $177.9 million for the quarter, a recovery from a loss of $215.6 million in the same prior-year quarter. The company also announced an agreement on April 7, 2025, to sell its automotive ethernet business to Infineon Technologies AG for $2.5 billion in cash. As part of this transaction, Marvell will license certain intellectual property and provide temporary transition services. Total assets as of May 3, 2025, were valued at $20,023.7 million, with total liabilities at $6,711.0 million. The quarter-end common stock outstanding was reported as 862.2 million shares.

Form Type: 8-K

Filing Date: 2025-04-08

Corporate Action: Acquisition

Type: New

Accession Number: 000119312525074816

Filing Summary: On April 7, 2025, Marvell Technology, Inc. announced that it has entered into an Asset Purchase Agreement with Infineon Technologies AG. Under this agreement, Infineon will acquire Marvell's automotive ethernet business and related assets for a cash price of $2.5 billion. The acquisition includes a license for certain intellectual property and temporary transition services post-transaction. The Board of Directors of Marvell has approved the transaction, which is expected to close within the calendar year 2025, pending customary closing conditions and regulatory approvals. A press release detailing the transaction was issued and is included as Exhibit 99.1.