Marvell (NASDAQ: MRVL) today announced the completion of the sale of its Wi-Fi Connectivity business to NXP (NASDAQ: NXPI).  The divestiture encompasses Marvell’s Wi-Fi and Bluetooth technology portfolios and related assets. 

Updated Revenue Guidance

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.