Marvell completes Inphi acquisitionCreated April 21, 2021
The name Inphi is about to disappear from the industry after 21 years, following shareholder approval of its acquisition by Marvell Technology, a specialist in data infrastructure semiconductor solutions. Marvell announced its intention to acquire the Singapore-based company back in October 2020 and with the completion of the buy-out, the company confirmed the Inphi brand would be dropped. Predictably however, everyone involved in the deal is enthusiastic about the possibilities opened up by the joining of the two companies.
“I am excited to welcome the Inphi team to Marvell and look forward to realising the tremendous value creation potential of this combination for our customers, employees and shareholders. Together we will have the portfolio, capabilities, and scale to expand Marvell’s leadership in its key growth end markets of 5G, Cloud and Automotive,” said Matt Murphy, president and CEO of Marvell. “I am also pleased that we are now organised as a U.S. company and we look forward to continuing to drive innovation in semiconductor technology critical to the nation’s data economy.”
Marvell also announced that Dr. Ford Tamer, Inphi’s president and CEO for the last nine years, has been appointed to the Board of Directors of Marvell, effective immediately upon close of the acquisition.
Financial terms of the stock and cash transaction were not disclosed, but it’s thought the deal could be worth around US$10 billion.
For more information, visit www.marvell.com