Marvell Offloads Auto Ethernet Segment To Infineon Tech For $2.5 Billion Cash

Marvell Technology, Inc. (NASDAQ:MRVL) shares are trading higher premarket on Tuesday.

On Monday, the company disclosed a definitive deal to sell its Automotive Ethernet business to Infineon Technologies AG (OTC:IFNNY) for $2.5 billion in an all-cash deal.

The transaction includes Marvell's Brightlane Automotive Ethernet portfolio and related assets.

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The company projected this segment to generate $225 million to $250 million in revenue in 2025,

https://www.benzinga.com/25/04/44681169/marvell-scores-25b-from-infineon-deal-exits-auto-ethernet-segment