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Marvell to Acquire Aquantia in Transaction Valued at USD 452m
Wednesday 08 May 2019

8 May 2019 - California, US-based infrastructure semiconductor solutions company Marvell Technology Group Ltd. (NASDAQ: MRVL) has entered into an agreement to acquire Aquantia, Corp. (NYSE: AQ), a specialist in Multi-Gig Ethernet connectivity, the company said.
Marvell will acquire all outstanding shares of Aquantia common stock in exchange for USD 13.25 per share in cash.
This represents approximately USD 452m in transaction value.
Marvell plans to finance the transaction with cash on hand and revolver borrowings. The transaction is not subject to any financing condition and is expected to close by the end of 2019.
The acquisition of Aquantia complements Marvell's portfolio of copper and optical physical layer product offerings and extends its position in the Multi-Gig 2.5G/5G/10G Ethernet segments.
This combination accelerates Marvell's vision for the future of automotive networking with speeds necessary to enable level 4 and 5 autonomous driving.
Marvell has intellectual property and deep system-level knowledge in semiconductor solutions that transform the enterprise, cloud, automotive, industrial and consumer markets.
Aquantia is in the design, development and marketing of advanced, high-speed communications ICs for Ethernet connectivity in the Data Centre, Enterprise Infrastructure, Access and Automotive markets.
Date Published: 08/05/2019
Target: Aquantia, Corp
Country: USA
Deal Size: 452m (USD)
Sector: Telecommunications
Type: LBO
Financing: Cash
Status: Agreed
Buyer: Marvell Technology Group