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|Traded as||NASDAQ: MRVL|
Russell 1000 Component
|Founder||Sehat Sutardja, Weili Dai, and Pantas Sutardja|
|Revenue||US$2.866 billion (2019) |
|US$179 million (2019) |
|US$10.02 billion (2019) |
|US$7.31 billion (2019) |
Number of employees
Marvell Technology Group is a global semiconductor company. Founded in 1995, the company now has more than 6,000 employees and 10,000 patents worldwide and annual revenue of $2.9 billion (FY19). Its U.S. headquarters is in Santa Clara, CA, and it has design centers in 14 countries across three continents.
In July 2016, Marvell appointed Matt Murphy as its new President and Chief Executive Officer. He worked previously for 22 years at Maxim Integrated, most recently as EVP, Business Units, Sales & Marketing. He currently also serves on the board of directors of eBay, the Semiconductor Industry Association, and the Global Semiconductor Alliance.
In July 2018, Marvell completed its acquisition of Cavium, Inc. On the same day, it announced the appointment of Syed Ali (co-founder of Cavium, Inc., and previously the company's president and CEO), Brad Buss (director of Cavium, Inc.) and Edward Frank (director of Cavium, Inc.) to the Marvell Board of Directors.
In February 2019, Marvell and Samsung announced the extension of their partnership to deploy 5G networks. And, in March 2019, Marvell announced a collaboration with Oracle to deliver secure storage using FIPS 140-2 Level 3 certified hardware security modules.
In September 2019, Marvell completed the acquisition of Aquantia, Corp. As part of the acquisition, Faraj Aalaei, formerly Aquantia's Chairman and CEO, joined Marvell as a senior executive.
Marvell's initial public offering was on June 27, 2000 and raised $90 million, with the stock listed on NASDAQ with the symbol MRVL.
The company is officially headquartered in Hamilton, Bermuda. The US operations known as Marvell Semiconductor, Incorporated, are located in Silicon Valley, California.
Through the years, Marvell acquired smaller companies to enter new markets.
|October 2000||Galileo Technology||Ethernet switches, system controllers||$2700M in stock|
|June 2002||SysKonnect||PC networking|
|February 2003||Radlan||Embedded networking software||$49.7M|
|August 2005||Hard disk controller division of Qlogic||Hard disk & tape drive controllers||$180M in cash + $45M in stock|
|December 2005||SOC division of UTStarcom||Wireless communications (3G)||$24M in cash|
|February 2006||Printer ASIC business of Avago||Printer ASICs||$240M in cash|
|July 2006||XScale product line from Intel||Communications processors and SOCs||$600M in cash|
|January 2008||PicoMobile Networks||Communication software for IWLAN and IMS|
|August 2010||Diseño de Sistemas en Silicio S.A. ("DS2")||Spanish company, PLC communication ICs|
|January 2012||Xelerated||Network Processors|
|July 2018||Cavium||ARM Processors||$6B in cash & stock|
|May 2019||Intent to acquire Avera Semi||ASICs||$650 million in cash|
|Sept 2019||Aquantia||ASICs Mutli-Gig Ethernet||$450 million in cash|
Marvell offers 60+ processor products with from 1 - 48 core, optimized for performance and efficiency.
Marvell OCTEON® embedded and OCTEON Fusion® fusion baseband processors.
Marvell Nitrox® processor is the market's leading security offload processor. And the Marvell LiquidIO® security products have shipped more than 1 million ports for Enterprise and Cloud applications.
Marvell has more than 20 years experience developing Ethernet switches, PHYs, and NIC cards.
The Marvell Prestera® CX 8500 family ranges from 2 to 12.8 Tbps and is designed for edge and private data centers.
Marvell FastLinQ® Ethernet controllers include 6 generation of converged network solutions with 3 million ports shipped.
Marvell secure switches and PHYs designed for the automotive industry have been adopted by leading global OEMs and ODMs.
The company is the leader in storage controllers, offering SSD controllers and HDD controllers and preamps.
Marvell is also the leading provider of Fibre Channel adapters and controllers, having shipped more than 20 million ports.
Google's Chromecast products are powered by Marvell SoCs. Namely the Marvell ARMADA® 1500 Mini SoC (88DE3005) for the Chromecast 1st gen and Marvell ARMADA 1500 Mini Plus SoC (88DE3006) for the Chromecast 2nd gen & Chromecast audio. Synaptics acquired Marvell Multimedia Solutions on 2017-06-12  ARMADA 1500 SoC's are now produced under different names 
In 2006, the US Securities and Exchange Commission (SEC) started an inquiry on the company's stock option grant practices. An investigation determined "grant dates were chosen with the benefit of hindsight" to make the options more valuable. The press estimated that the founders and other executives had made $760 million in gains from the options, which were awarded by the founding couple, Sehat Sutardja and Weili Dai. The SEC asked to interview the company general counsel Matthew Gloss, but Marvell claimed attorney-client privilege. Gloss was fired just before the investigation results were announced in May 2007.Abraham David Sofaer was hired to investigate the investigation after Gloss alleged it was not independent. In announcing the results of its own inquiry, the SEC did not give Marvell the credit granted other companies in the options scandal for cooperating with the SEC's investigation or for cleaning up.  At the time of the announcement, the co-acting regional director of the SEC's San Francisco office stated, among other things, that the SEC did not believe that the lack of cooperation and remediation shown by Marvell merited a whole lot of credit in terms of giving Marvell a break.  In announcing its results, the SEC found that Gloss was not a participant in Dai and Sutardja's backdating scheme. Marvell restated its financial results, and stated that Dai will no longer be executive vice president, chief operating officer, and a director but continue with the company in a non-management position. The company agreed to pay a $10 million fine in 2008, but did not fire Dai nor replace Sutardja as chairman as stated by the investigating committee.
In December 2012, a Pittsburgh jury ruled that Marvell had infringed two patents (co-inventors Alek Kavcic and Jose Moura) by incorporating hard disk technology developed and owned by Carnegie Mellon University without a license. The technology, relating to improving hard disk data read accuracy at high speeds, was reported to have been used in 2.3 billion chips sold by Marvell between 2003 and 2012. The jury awarded damages of $1.17 billion, the third largest ever in a patent case at the time. The jury also found that the breach had been "willful", giving the judge discretion to award up to three times the original damage amount. In December 2012, the company lost its mistrial bid in this dispute. Post-trial hearings were scheduled for May 2013 and Marvell reported to be considering an appeal in the interim. In August, US District Judge Nora Barry Fischer upheld the award. On February 17, 2016, Marvell agreed to a settlement in which Marvell will pay Carnegie Mellon University $750,000,000.