Marvell completes sale of Automotive Ethernet business to Infineon for $2.5B

Marvell Technology (MRVL) announced it has completed the sale of its Automotive Ethernet business to Infineon Technologies (IFNNY) for $2.5B in an all-cash transaction. The transaction closed eleven days into Marvell’s third quarter of fiscal 2026, during which the Automotive Ethernet business contributed mid-single-digit millions of dollars in revenue. Effective August 15, Marvell’s financial results will no longer include contributions from the Automotive Ethernet business. As previously disclosed in Marvell’s April 7 announcement of the definitive agreement, the Automotive Ethernet business was expected to contribute between $225M-$250M in revenue during fiscal 2026. Marvell does not expect the transaction to have a material impact on its non-GAAP earnings per share.