Marvell Technology Explained

Marvell Technology, Inc.
Type:Public
Hq Location:Wilmington, Delaware, U.S.
Industry:Semiconductors
Revenue: (2024)
Operating Income: US$−568 million (2024)
Net Income: US$−933 million (2024)
Assets: US$21.23 billion (2024)
Equity: US$14.83 billion (2024)
Num Employees:6,577 (2024)
Footnotes:Financials .[1]

Marvell Technology, Inc. is an American company, headquartered in Wilmington, Delaware, which develops and produces semiconductors and related technology. Founded in 1995, the company had more than 6,500 employees as of 2024, with over 10,000 patents worldwide, and an annual revenue of $5.5 billion for fiscal 2024.

History

Marvell was founded in 1995 by Dr. Sehat Sutardja, his wife Weili Dai, and his brother Pantas Sutardja.[2] [3] They worked on designing a CMOS-based read channel for disk drives as their first product. Seagate Technology became their first customer. The initial public offering on June 27, 2000 (near the end of the dot-com bubble) raised $90 million.[4]

In April 2016, CEO Sehat Sutardja and President Weili Dai were ousted from their posts after activist investor Starboard Value fund took a roughly 7 percent stake in the company.[5]

In July 2016, Marvell appointed Matt Murphy as its new president and CEO.[6]

On July 6, 2018, Marvell completed its acquisition of Cavium, Inc.[7] 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.[8]

In September 2019, Marvell completed the acquisition of Aquantia Corp.[9]

In April 2021, Marvell completed the acquisition of Inphi Corporation. As part of the acquisition, Marvell reorganized so that the combined company is domiciled in Wilmington, Delaware.

In September 2023, Marvell Technologies acquired an expansion deal in Pune, India.[10]

Acquisitions

Through the years, Marvell acquired smaller companies to enter new markets.

DateAcquired companyExpertiseCost
October 2000Galileo TechnologyEthernet switches, system controllers$2700M in stock[11]
June 2002SysKonnectPC networking[12]
February 2003RadlanEmbedded networking software$49.7M[13]
August 2005Hard disk controller division of QlogicHard disk & tape drive controllers$180M in cash + $45M in stock[14]
December 2005SOC division of UTStarcomWireless communications (3G)$24M in cash[15]
February 2006Printer ASIC business of AvagoPrinter ASICs$240M in cash[16] [17]
July 2006XScale product line from IntelCommunications processors and SOCs$600M in cash[18]
January 2008PicoMobile NetworksCommunication software for IWLAN and IMS[19]
August 2010Diseño de Sistemas en Silicio S.A. ("DS2")Spanish company, PLC communication ICs[20]
January 2012XeleratedNetwork Processors[21] [22]
July 6, 2018CaviumARM Processors$6B in cash & stock[23]
May 2019Avera SemiASICs$650 million in cash[24]
September 2019Aquantia CorporationASICs Multi-Gig Ethernet$450 million in cash
April 2021Inphi CorporationMixed-signal integrated circuit$8.2 billion[25]
October 2021InnoviumData center network switches$1.1 billion[26]

Products

Compute

Data Processing Unit

Marvell OCTEON and ARMADA DPUs which integrate a CPU, network interfaces and programmable data acceleration engines on a specialized electronic circuit.[27]

Custom

Marvell also offered Customer Specific Standard Product (CSSP), where customer accelerators and interfaces could be integrated directly into Marvell's Octeon processors. Following Marvell's 2019 acquisition of Avera Semiconductor (formerly the custom ASIC division of GlobalFoundries and prior to that of IBM), Marvell offers custom ASIC tailored to clients' specific design goals.[28] And it provides services for ASICs development to the Aerospace and Defense industries through its independent subsidiary Marvell Government Solutions (MGS).[29] In a joint venture with TSMC, Marvell introduced a 3nm product.[30]

Infrastructure Processors

On November 12, 2019, Marvell announced that their ThunderX2 SoCs have been deployed on Microsoft Azure.[31] On March 2, 2020, Marvell announced OCTEON Fusion and OCTEON TX2 5G infrastructure processors, as well as deals to provide processors for 5G Infrastructure for Huawei, Nokia, Ericsson, ZTE, and Samsung.[32] On March 16, 2020, Marvell announced ThunderX3 and their plan for ThunderX4 in 2022.[33] On August 28, 2020, Marvell announced plan to refocus their ThunderX Server Teams to their Custom Silicon Business.[34]

Security Solutions

Marvell's security-related products include their LiquidSecurity HSM Adapters and NITROX Cryptographic Offload Engines.[35]

Networking and Storage

Marvell's networking products include their FastLinQ Ethernet network adapters and controllers, Ethernet Switch chips for both Enterprises (Prestera) & Datacenters (Teralynx), Ethernet PHYs and Automotive Ethernet.[36] [37] [38] [39] [40]

Marvell's products include SSD Controllers, HDD Controllers, HDD Preamplifiers, Storage Accelerators, and QLogic Fibre Channel Adapters and Controllers.[41] [42] [43] [44] On May 27, 2021, Marvell announced its first NVM Express SSD controllers to support PCI Express 5.0.[45]

Other products

Marvell supplied the Wi-Fi chip for the original (first-generation) Apple iPhone.[46] Marvell Mobile Hotspot (MMH) is an in-car Wi-Fi connectivity. The 2010 Audi A8 was the first automobile in the market to feature a factory-installed MMH.[47]

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.[48] Synaptics acquired Marvell Multimedia Solutions on 2017-06-12 [49] ARMADA 1500 SoC's are now produced under different names [50]

Controversy

Stock options

In 2006, the US Securities and Exchange Commission (SEC) started an inquiry into the company's stock option grant practices.[51] An investigation determined "grant dates were chosen with the benefit of hindsight" to make the options more valuable.[52] 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.[53] The SEC asked to interview the company's general counsel Matthew Gloss, but Marvell claimed attorney–client privilege.[54] Gloss was fired just before the investigation results were announced in May 2007.[55] 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 to other companies in the options scandal for cooperating with the SEC's investigation or for cleaning up.[56] 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 much credit in terms of being lenient with Marvell.[56] In announcing its results, the SEC found that Gloss was not a participant in Dai and Sutardja's backdating scheme.[56] Marvell restated its financial results, and stated that Dai will no longer be executive vice president, chief operating officer, and director but continue with the company in a non-management position.[57] 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.[56]

Patent infringement

In December 2012, a Pittsburgh jury ruled that Marvell had infringed two patents (co-inventors Alek Kavčić and Jose Moura) by incorporating hard disk technology developed and owned by Carnegie Mellon University without a license.[58] 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.[59] The jury awarded damages of $1.17 billion, the third largest ever in a patent case at the time.[60] 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.[61] 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.[62] On February 17, 2016, Marvell agreed to a settlement in which Marvell will pay Carnegie Mellon University $750,000,000.[63]

See also

External links

NASDAQ:

Notes and References

  1. Web site: Marvell FY 2024 Fiscal Year Form 10-K . . 13 March 2024.
  2. Web site: Perry . Tekla S. . October 29, 2010 . Sehat Sutardja: An Engineering Marvell . IEEE Spectrum.
  3. Web site: Marvell Technology MRVL Stock Price, Company Overview & News . 2023-08-16 . Forbes . en.
  4. News: Marvell rises 278% in debut . June 27, 2000 . CNN Money.
  5. Web site: Marvell ousts Silicon Valley power couple from top posts. Carey. Pete . The Mercury News . April 5, 2016 . April 20, 2020 . https://web.archive.org/web/20180619040235/https://www.mercurynews.com/2016/04/05/marvell-ousts-silicon-valley-power-couple-from-top-posts/ . June 19, 2018.
  6. Web site: Company - Leadership - Matt Murphy - Marvell. www.marvell.com. 2019-10-22.
  7. Marvell Technology Completes Acquisition of Cavium. Ltd. Marvell Technology Group. www.prnewswire.com. en. 2019-10-22.
  8. Marvell Technology Completes Acquisition of Cavium. www.marvell.com. en. 2019-10-22.
  9. Marvell Completes Acquisition of Aquantia. Marvell. www.prnewswire.com. en. 2019-10-22.
  10. Web site: 2023-09-04 . Marvell Tech reveals India expansion plans signaling confidence in the market . 2023-09-05 . DIGITIMES . en.
  11. Web site: Marvell to acquire LAN-chip supplier Galileo for $2.7 billion in stock . eetimes . 2000-10-17 . 2011-06-12 .
  12. Web site: Marvell Acquires SysKonnect GmbH for 10 Gbps Client-side Silicon . convergedigest.com . 2002-06-21 . 2011-06-12 . dead . https://web.archive.org/web/20110927175227/http://www.convergedigest.com/silicon/siliconarticle.asp?ID=4140 . 2011-09-27 .
  13. Web site: Marvell Acquires Radlan . edn.com . 2003-02-06 . 2011-06-12 . dead . https://archive.today/20130121210913/http://www.edn.com/article/481814-Marvell_Acquires_Radlan.php . 2013-01-21 .
  14. Web site: Marvell to Acquire the Hard Disk Drive Controller Business of QLogic . Marvell . 2005-08-29 . 2011-06-12 . https://web.archive.org/web/20160116031412/http://investor.marvell.com/phoenix.zhtml?c=120802&p=irol-newsArticle&ID=750269&highlight= . 2016-01-16 . dead .
  15. Web site: Marvell acquires UTStarcom's SoC Division . evertiq.com . 2005-12-23 . 2011-06-12.
  16. Web site: Marvell Acquires Avago's Printer ASICs Business . insidchips.com . December 2005 . 2011-06-12 . dead . https://web.archive.org/web/20111006032908/http://www.insidechips.com/public/6641print.cfm . 2011-10-06 .
  17. Web site: Marvell Technology Group acquires Avago for $240 million . dealipedia.com . 2006-02-20 . 2011-06-12.
  18. Web site: Marvell buys Intel's handheld processor unit for $600 million . Eet.com . 2006-06-27 . 2011-06-12.
  19. Web site: PicoMobile Networks, Inc. . https://web.archive.org/web/20121013190500/http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=53477514 . dead . October 13, 2012 . businessweek.com . January 2008 . 2011-06-12 .
  20. News: Marvell Acquires DS2 Technology . News release . Marvell . August 19, 2010 . August 24, 2013 .
  21. News: Nicolas Mokhoff. Marvell's buy of Xelerated lines up comms offerings . EE Times . January 4, 2012 .
  22. News: Marvell Snaps Up Xelerated . Light Reading . January 4, 2012 . Ray Le Maistre . May 27, 2013 .
  23. News: PALLADINO. Valentina. Marvell Technology to buy chipmaker Cavium for about $6 billion. 20 November 2017. Ars Technica. 20 November 2017.
  24. Web site: Shilov. Anton. Marvell to Acquire Avera Semiconductor from GlobalFoundries. 2021-05-30. www.anandtech.com.
  25. News: Marvell to Buy Inphi for $8.2 Billion to Grow in Cloud, 5G. 2021-04-21. Bloomberg.com. 29 October 2020 .
  26. News: Marvell Tech to acquire Innovium for $1.1 bln as it courts more cloud customers . 3 August 2021 . . Stephen . Nellis.
  27. Web site: Data Processing Units (DPUs) Empowering Carrier, Enterprise and Cloud Data Services - Marvell. 2021-05-29. www.marvell.com.
  28. Web site: Frumusanu. Andrei. Marvell Unveils its Comprehensive Custom ASIC Offering. 2021-05-29. www.anandtech.com.
  29. Web site: Marvell Government Solutions Delivering CUI, ITAR and Trusted Custom ASIC End-to-End Solutions - Marvell. 2021-05-30. www.marvell.com.
  30. Web site: New Electronics - Marvell unveils 3nm data infrastructure IP portfolio . 21 October 2022 .
  31. Web site: Company - Newsroom - Marvell's ThunderX2 Solution Now Deployed for Microsoft Azure Development - Marvell. 2019-11-17. www.marvell.com.
  32. Web site: Frumusanu. Andrei. Marvell Announces OCTEON Fusion and OCTEON TX2 5G Infrastructure Processors. 2020-03-20. www.anandtech.com.
  33. Web site: Frumusanu. Andrei. Marvell Announces ThunderX3: 96 Cores & 384 Thread 3rd Gen Arm Server Processor. 2020-03-20. www.anandtech.com.
  34. Web site: Frumusanu. Andrei. Marvell Refocuses Thunder Server Platforms Towards Custom Silicon Business. 2021-05-30. www.anandtech.com.
  35. Web site: Security Solutions Protecting Cloud and Enterprise Data - Marvell. 2021-05-30. www.marvell.com.
  36. Web site: Ethernet Network Adapters and Controllers Boosting Server and Edge Connectivity - Marvell. 2021-05-29. www.marvell.com.
  37. Web site: Switching technology I Powering the next generation of borderless and secure networks - Marvell. 2021-05-29. www.marvell.com.
  38. Web site: Ethernet PHY Transceivers Connecting Infrastructure with Broadest Ethernet PHY Portfolio - Marvell. 2021-05-29. www.marvell.com.
  39. Web site: Automotive Advancing the Future of Intelligent Driving - Marvell. 2021-05-29. www.marvell.com.
  40. https://www.marvell.com/products/switching/datacenter.html
  41. Web site: SSD Controllers Unleashing High-Performance Edge to Cloud Data Storage - Marvell. 2021-05-30. www.marvell.com.
  42. Web site: HDD Solutions Delivering High-Capacity Cloud and Edge Data Storage - Marvell. 2021-05-30. www.marvell.com.
  43. Web site: Storage Accelerators Accelerating Edge to Cloud Workloads with Innovative Controller Solutions - Marvell. 2021-05-30. www.marvell.com.
  44. Web site: Fibre Channel Adapters and Controllers Scaling Storage with Trusted High-Performance Connectivity - Marvell. 2021-05-30. www.marvell.com.
  45. Web site: Tallis. Billy. Marvell Announces First PCIe 5.0 NVMe SSD Controllers: Up To 14 GB/s. 2021-05-30. www.anandtech.com.
  46. Web site: iPhone 1st Gen Teardown . 29 June 2007 . 2011-03-28.
  47. News: Wilson. Richard. Marvell chip turns Audi A8 into Wi-Fi hotspot. ElectronicsWeekly.com. August 10, 2010.
  48. http://www.anandtech.com/show/9688/googles-chromecast-2-is-powered-by-marvells-armada-1500-mini-plus-dual-cortexa7 Google’s Chromecast 2 is Powered By Marvell’s ARMADA 1500 Mini Plus - Dual-Core Cortex-A7
  49. Web site: Press Release | Synaptics Accelerates Consumer IoT Strategy with Acquisitions of Conexant Systems, LLC and the Multimedia Solutions Business of Marvell Technology Group | Synaptics . www.synaptics.com . 2018-03-22.
  50. Web site: Google Chromecast Ultra (NC2-6A5-D) . wikidevi.com . 2018-03-22 . dead . https://web.archive.org/web/20180129232254/https://wikidevi.com/wiki/Google_Chromecast_Ultra_(NC2-6A5-D) . 2018-01-29.
  51. Web site: Form 8-K . Marvell Technology Group Limited . Securities and Exchange Commission . July 3, 2006 . August 24, 2013 .
  52. Web site: Marvell Completes Independent Review of Stock Option Practices . Securities and Exchange Commission . May 7, 2007 . August 24, 2013 .
  53. News: Billionaires From Jakarta, Shanghai Undermined by U.S. Options . May 21, 2007 . Edward Robinson . Bloomberg News . August 24, 2013 .
  54. News: SEC Stumbles on Privilege Waivers . Justin Scheck . In-House Counsel . dead . https://web.archive.org/web/20090226035732/http://www.law.com/jsp/ihc/PubArticleIHC.jsp?id=1189155768565 . February 26, 2009 . August 24, 2013 .
  55. News: Marvell Fires General Counsel: Marvell's general counsel was fired before the release of the company's backdating report. The counsel's attorney denies any connection . CFO Magazine . May 8, 2007 . Alan Rappeport . August 24, 2013 .
  56. News: Marvell Technology to Pay $10 Million Fine Over Backdating . Law.Com . May 9, 2008 . Zusha Elinson . August 24, 2013 .
  57. News: Marvell CFO Resigns amid Options Probe: Microchip maker discloses a pre-tax charge of as much as $350 million . CFO Magazine . May 7, 2007 . Alan Rappeport . August 24, 2013 .
  58. News: Mouawad . Jad . Jury Awards $1.17 Billion in Patent Suit . . 2012-12-26 . 2012-12-28.
  59. News: BBC News - Marvell faces huge patent fine over hard disk chips . BBC News . 27 December 2012 . 2012-12-28.
  60. Web site: Clark . Don . Jury Finds Marvell Owes $1.17 Billion in Patent Case - WSJ.com . Online.wsj.com . 2012-12-26 . 2012-12-28.
  61. Web site: Marvell Loses Mistrial Bid In Carnegie Mellon Patent Row . December 21, 2012 . July 31, 2013 .
  62. News: Bernard . Vaughan . Reuters . Judge upholds $1.17 billion patent verdict against Marvell . August 23, 2013 . August 24, 2013 .
  63. Carnegie Mellon University and Marvell Technology Group Ltd. Reach Settlement. Carnegie Mellon University. 2016-02-17. 2016-02-18.

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