SANTA CLARA, Calif.,
June 28, 2018 /PRNewswire/
-- Marvell (NASDAQ: MRVL), a leader in storage, networking,
and connectivity semiconductor solutions, today announced that
China's State Administration for
Market Regulation has approved the company's previously announced
merger transaction with Cavium, Inc. The merger remains subject to
customary closing conditions and Marvell currently expects the
merger to close in July 2018.
About Marvell
Marvell first revolutionized the digital storage industry by
moving information at speeds never thought possible. Today, that
same breakthrough innovation remains at the heart of the company's
storage, networking, and connectivity solutions. With leading
intellectual property and deep system-level knowledge, Marvell's
semiconductor solutions continue to transform the enterprise,
cloud, automotive, industrial, and consumer markets. To learn more,
visit: www.marvell.com.
Cautionary Statement Regarding Forward-Looking
Statements
This document contains certain forward-looking statements within
the meaning of the federal securities laws with respect to the
proposed transaction between Cavium and Marvell, including the
anticipated timing of the closing of the transaction. These
forward-looking statements generally are identified by the words
"believe," "project," "expect," "anticipate," "estimate," "intend,"
"strategy," "future," "opportunity," "plan," "may," "should,"
"will," "would," "will be," "will continue," "will likely result,"
and similar expressions. Forward-looking statements are
predictions, projections and other statements about future events
that are based on current expectations and assumptions and, as a
result, are subject to risks and uncertainties. Many factors could
cause actual future events to differ materially from the
forward-looking statements in this document, including but not
limited to: (i) uncertainties as to the timing of the
consummation of the transaction and the ability of each party to
consummate the transaction, (ii) the failure to satisfy the
conditions to the consummation of the transaction, (iii) the
failure to realize the anticipated benefits of the proposed
transaction, including as a result of delay in completing the
transaction or integrating the businesses of Cavium and Marvell,
(iv) the effect of the announcement or pendency of the
transaction on Cavium's business relationships, operating results,
and business generally, (v) risks that the proposed
transaction disrupts current plans and operations of Cavium or
Marvell and potential difficulties in Cavium employee retention as
a result of the transaction, (vi) the outcome of litigation
and other legal proceedings against Cavium and/or Marvell or to
which Cavium and/or Marvell become subject, and (vii) the
ability of Marvell to successfully integrate Cavium's operations
and product lines. The foregoing review of important factors should
not be construed as exhaustive. You should carefully consider the
foregoing factors and the other risks and uncertainties that affect
the businesses of Marvell and Cavium described in the "Risk
Factors" section of their respective Annual Reports on
Form 10-K, Quarterly Reports on Form 10-Q and
other documents filed by either of them from time to time with the
SEC. These filings identify and address other important risks and
uncertainties that could cause actual events and results to differ
materially from those contained in the forward-looking statements.
Forward-looking statements speak only as of the date they are made.
Readers are cautioned not to put undue reliance on forward-looking
statements, and Marvell and Cavium assume no obligation and do not
intend to update or revise these forward-looking statements,
whether as a result of new information, future events, or
otherwise. Neither Marvell nor Cavium gives any assurance that
either Marvell or Cavium will achieve its expectations.
Marvell and the M logo are registered trademarks of Marvell
and/or its affiliates. Other names and brands may be claimed as the
property of others.
For Further Information Contact:
T. Peter Andrew
Vice President, Treasury and Investor Relations
ir@marvell.com
(408) 222-0777
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SOURCE Marvell Technology Group Ltd.