Marvell Technology Group
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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) |
|Total assets||US$10.02 billion (2019) |
|Total equity||US$7.31 billion (2019) |
Number of employees
Marvell Technology Group is a semiconductor company that was founded in 1995 and has over 5,000 employees and 10,000 patents worldwide. FY19 revenue was $2.9 billion. Marvell's U.S. operating headquarters is located in Santa Clara, California, and has design centers in 14 countries across three continents.
Marvell was founded in 1995 by Sehat Sutardja, his wife Weili Dai, and brother Pantas Sutardja. The initial public offering on June 27, 2000 (near the end of the dot-com bubble) raised $90 million, with the stock listed on NASDAQ with the symbol MRVL.
In July 2016, Marvell appointed Matt Murphy as the new President and Chief Executive Officer. In his role, Matt was tasked with leading new technology development, directing ongoing operations and driving Marvell's transformation and growth strategy.
In July 2018, Marvell completed its acquisition of Cavium, Inc.. On the same day, Marvell 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.
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 Aquantia||Multi-Gig Ethernet||$450 million in cash|
|May 2019||Intent to acquire Avera Semi||ASICs||$650 million in cash|
Computing and Security:
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.
- "Marvell 2019 Fiscal Year Results". Marvell. Retrieved 25 August 2019. Check date values in:
- "Company - Marvell". www.marvell.com.
- Company. Marvell. Retrieved on 2013-12-09.
- "iPhone 1st Gen Teardown". Retrieved 2011-03-28.
- Wilson, Richard (August 10, 2010). "Marvell chip turns Audi A8 into Wi-Fi hotspot". ElectronicsWeekly.com.
- Google’s Chromecast 2 is Powered By Marvell’s ARMADA 1500 Mini Plus - Dual-Core Cortex-A7. www.anandtech.com. Retrieved on 2016-01-05.
- https://www.synaptics.com/company/news/conexant-marvell. Retrieved on 2018-03-22.
- https://wikidevi.com/wiki/Google_Chromecast_Ultra_(NC2-6A5-D). Retrieved on 2018-03-22.
- Top 100 Global Innovators | 2013 Winners. Top100innovators.com. Retrieved on 2013-12-09.
- Marvell Technology Group Limited (July 3, 2006). "Form 8-K". Securities and Exchange Commission. Retrieved August 24, 2013.
- "Marvell Completes Independent Review of Stock Option Practices". Securities and Exchange Commission. May 7, 2007. Retrieved August 24, 2013.
- Edward Robinson (May 21, 2007). "Billionaires From Jakarta, Shanghai Undermined by U.S. Options". Bloomberg News. Retrieved August 24, 2013.
- Justin Scheck. "SEC Stumbles on Privilege Waivers". In-House Counsel. Archived from the original on February 26, 2009. Retrieved August 24, 2013.
- Alan Rappeport (May 8, 2007). "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. Retrieved August 24, 2013.
- Zusha Elinson (May 9, 2008). "Marvell Technology to Pay $10 Million Fine Over Backdating". Law.Com. Retrieved August 24, 2013.
- Alan Rappeport (May 7, 2007). "Marvell CFO Resigns amid Options Probe: Microchip maker discloses a pre-tax charge of as much as $350 million". CFO Magazine. Retrieved August 24, 2013.
- Mouawad, Jad (2012-12-26). "Jury Awards $1.17 Billion in Patent Suit". nytimes.com. Retrieved 2012-12-28.
- "BBC News - Marvell faces huge patent fine over hard disk chips". bbc.co.uk. Retrieved 2012-12-28.
- Clark, Don (2012-12-26). "Jury Finds Marvell Owes $1.17 Billion in Patent Case - WSJ.com". Online.wsj.com. Retrieved 2012-12-28.
- "Marvell Loses Mistrial Bid In Carnegie Mellon Patent Row". December 21, 2012. Retrieved July 31, 2013.
- Vaughan, Bernard (August 23, 2013). "Judge upholds $1.17 billion patent verdict against Marvell". Reuters. Retrieved August 24, 2013.
- "Carnegie Mellon University and Marvell Technology Group Ltd. Reach Settlement". Carnegie Mellon University (Press release). 2016-02-17. Retrieved 2016-02-18.
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