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Marvell Technology Group Ltd. Announces Receipt of Chinese Regulatory Approval for Cavium Acquisition

Santa Clara, California (June 28, 2018) – Marvell (NASDAQ: MRVL), a leader in storage, networking, and connectivity semiconductor solutions, today announced that  China's   State Administration  for Market Regulation has approved the company's previously announced merger transaction with  Cavium, Inc.  The merger remains subject to customary closing conditions and  Marvell  currently expects the merger to close in  July 2018 .

About Marvell

Marvell first revolutionized the digital storage industry by moving information at speeds never thought possible. Today, that same breakthrough innovation remains at the heart of the company's storage, networking, and connectivity solutions. With leading intellectual property and deep system-level knowledge,  Marvell's  semiconductor solutions continue to transform the enterprise, cloud, automotive, industrial, and consumer markets. To learn more, visit:

Cautionary Statement Regarding Forward-Looking Statements

This document contains certain forward-looking statements within the meaning of the federal securities laws with respect to the proposed transaction between  Cavium  and  Marvell , including the anticipated timing of the closing of the transaction. These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "future," "opportunity," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result," and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this document, including but not limited to: (i) uncertainties as to the timing of the consummation of the transaction and the ability of each party to consummate the transaction, (ii) the failure to satisfy the conditions to the consummation of the transaction, (iii) the failure to realize the anticipated benefits of the proposed transaction, including as a result of delay in completing the transaction or integrating the businesses of  Cavium  and  Marvell , (iv) the effect of the announcement or pendency of the transaction on  Cavium's  business relationships, operating results, and business generally, (v) risks that the proposed transaction disrupts current plans and operations of  Cavium  or  Marvell  and potential difficulties in  Cavium  employee retention as a result of the transaction, (vi) the outcome of litigation and other legal proceedings against  Cavium  and/or  Marvell  or to which  Cavium  and/or  Marvell  become subject, and (vii) the ability of  Marvell  to successfully integrate  Cavium's  operations and product lines. The foregoing review of important factors should not be construed as exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties that affect the businesses of  Marvell  and  Cavium  described in the "Risk Factors" section of their respective Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and other documents filed by either of them from time to time with the  SEC . These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and  Marvell  and  Cavium assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Neither  Marvell  nor  Cavium  gives any assurance that either  Marvell  or  Cavium  will achieve its expectations.


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