Marvell sells Wi-Fi connectivity business to NXP

Marvell completed the previously announced sale of its Wi-Fi Connectivity business to NXP . 

The divested business includes Marvell’s Wi-Fi and Bluetooth technology portfolios and related assets.

Marvell is updating its current quarter revenue guidance to reflect the Wi-Fi Connectivity business sale to NXP.  The company now anticipates fourth quarter FY20 revenue of $710 million +/- 3% vs. original guidance for $750 million +/- 3% as provided at the time of the third quarter earnings announcement on December 3, 2019.