Company Announcements

SANTA CLARA, Calif. , Aug. 14, 2025 /PRNewswire/ -- Marvell Technology, Inc. (NASDAQ: MRVL), a leader in data infrastructure semiconductor solutions, today announced it has completed the sale of its Automotive Ethernet business to Infineon Technologies AG ("Infineon") for $2.5 billion in an all-cash transaction.

The transaction closed eleven days into Marvell's third quarter of fiscal 2026, during which the Automotive Ethernet business contributed mid-single-digit millions of dollars in revenue. Effective August 15, 2025, Marvell's financial results will no longer include contributions from the Automotive Ethernet business.

As previously disclosed in Marvell's April 7, 2025 announcement of the definitive agreement, the Automotive Ethernet business was expected to contribute between $225 million and $250 million in revenue during fiscal 2026.

Marvell does not expect the transaction to have a material impact on its non-GAAP earnings per share.

As announced on August 4, 2025, Marvell will host a conference call to review its second quarter fiscal 2026 financial results and provide third quarter guidance on Thursday, August 28, 2025, at 1:45 p.m. Pacific Time.

About Marvell
To deliver the data infrastructure technology that connects the world, we're building solutions on the most powerful foundation: our partnerships with our customers. Trusted by the world's leading technology companies for over 30 years, we move, store, process and secure the world's data with semiconductor solutions designed for our customers' current needs and future ambitions. Through a process of deep collaboration and transparency, we're ultimately changing the way tomorrow's enterprise, cloud, automotive, and carrier architectures transform—for the better.

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Forward-Looking Statements under the Private Securities Litigation Reform Act of 1995
This press release contains forward-looking statements within the meaning of the federal securities laws that involve risks and uncertainties. Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate or imply future events, results or achievements. Actual events, results or achievements may differ materially from those contemplated in this press release. Forward-looking statements are only predictions and are subject to risks, uncertainties and assumptions that are difficult to predict, including those described in the "Risk Factors" section of our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and other documents filed by us from time to time with the SEC. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and no person assumes any obligation to update or revise any such forward-looking statements, whether as a result of new information, future events or otherwise.

For further information, contact:

Investors
Ashish Saran
ir@marvell.com

Media
Kim Markle
pr@marvell.com

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SOURCE Marvell