NXP will acquire Marvell’s Wi-Fi Connectivity business for $1.76 billion in cash.
The deal includes Marvell’s Wi-Fi and Bluetooth technology portfolios and related assets. The business employs approximately 550 people worldwide and generated roughly $300 million in revenue in Marvell’s fiscal 2019.
NXP said the acquisition enables it to offer a full range of wireless connectivity solutions including WiFi 4, 5, 6 and Bluetooth/ BLE combo along with its flagship edge computing platforms. including I.MX, Layerscape, Kinetis, LPC and the newly introduced RT Crossover Processors.
“NXP has built a broad consumer footprint and an optimized platform for IoT applications, making it an ideal home for our innovative Wi-Fi technology and team,” said Matt Murphy, president and CEO of Marvell. “At the same time, this transaction yields a premium valuation and substantially higher economic return for Marvell shareholders while accelerating our transformation into a leading infrastructure supplier spanning 5G, data center, enterprise and automotive Ethernet applications.”
“We are excited to be able to combine Marvell’s world-class connectivity with NXP’s industry leading embedded processing, we can offer our customer base the broadest portfolio of Edge solutions which includes tailored security and a full suite of wireless connectivity spanning WiFi, Bluetooth, Bluetooth Low Energy, Zigbee, Thread and NFC,” said Richard Clemmer, chief executive officer of NXP. “I am delighted this world-class team with the right set of complementary connectivity technologies is joining NXP, enabling us to deliver on our commitment to provide Secure Connections for the Smarter World.”