Marvell Technology, Inc. (NASDAQ: MRVL) has successfully completed the divestiture of its automotive ethernet business to Infineon Technologies AG for a total of $2.5 billion in an all-cash transaction. The sale was finalized on August 14, 2025, just eleven days into Marvell's third quarter of fiscal 2026.
Prior to the divestiture, the automotive ethernet business contributed mid-single-digit millions of dollars in revenue during the early part of the third quarter. However, effective August 15, 2025, Marvell's financial results will no longer include contributions from this business unit.
In a previously disclosed announcement from April 7, 2025, it was expected that the automotive ethernet business would bring in revenue ranging between $225 million and $250 million for fiscal 2026.
Following the completion of the divestiture, Marvell does not anticipate a material impact on its non-GAAP earnings per share. The company has also scheduled a conference call for August 28, 2025, during which it will review its second quarter fiscal 2026 financial results and provide guidance for the third quarter.
Marvell Technology, Inc. is known for its data infrastructure semiconductor solutions and aims to provide technology that connects the world by collaborating with customers to develop solutions tailored to their needs.
The market has reacted to these announcements by moving the company's shares -0.5% to a price of $78.92. Check out the company's full 8-K submission here.
