NXP will acquire Marvell’s Wi-Fi connection service

A global leader in infrastructure semiconductor solutions, today announced that Marvell, NXP will pay $ 1.76 billion all-cash transaction of assets, the acquisition of Marvell’s Wi-Fi connection service CONTROL ENGINEERING China Copyright , and has entered into a definitive agreement . The acquisition Wi-Fi, Bluetooth technology portfolio and related assets including Marvell’s. The business in approximately 550 employees worldwide, the Marvell 2019 fiscal year, generating some $ 300 million in revenue Marvell. The transaction has been approved by Marvell and NXP were given the board of directors, it is expected to be completed in the first quarter of 2020, but the exact time is subject to customary closing conditions and the approval of the results of regulatory agencies may be. Marvell expects the complete stripping of assets, will improve gross margins and operating margins. Marvell in 2019 was 5 Yue 30 Ri (Zhousi) conference call to announce its financial results for the first quarter of fiscal year 2020, answered questions about the transaction. Marvell President and CEO Matt Murphy expressed: “NXP networking applications for the establishment of a broad consumer base and high-quality platform, is an ideal destination Marvell’s innovative Wi-Fi technology and team at the same time, this transaction will Marvell shareholders. bring high valuations and higher economic returns while accelerating the 5G, data center transformation leading infrastructure provider to businesses and Marvell Ethernet in the field of automotive applications. “Forward-Looking statements All statements in this press release above in addition to historical information control Engineering Copyright , including those related to divestitures, the expected return divestitures and asset stripping completion time, etc., are “forward-looking statements,” based on the 1995 “private Securities litigation reform Act “in terms of the provisions of control Engineering Copyright , belongs to the” safe harbor “information category. These forward-looking statements speak only valid in a press release issued the same day. Due to various risk factors, actual results or events may exist great differences and forward-looking statements, including the risks: the risk of the proposed divestiture may not be completed, Marvell may notRisk to achieve the expected benefits Control Engineering Copyright , or such proceeds may need more time than expected to implement risk, and other risks associated with divestitures. Marvell does not undertake any obligation to update forward-looking information in this press release. Other possible cause actual results to differ materially from the potential risks and uncertainties, filings with the Securities and Exchange Commission (SEC) has been disclosed in the Marvell Control Engineering Copyright , the file can be accessed through the SEC website www.sec.gov get.

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