Marvell (NASDAQ: MRVL) today announced the final touch of the sale of its Wi-Fi Connectivity commercial enterprise to NXP (NASDAQ: NXPI). The divestiture encompasses Marvell’s Wi-Fi and Bluetooth technology portfolios and related assets.
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Updated Revenue Guidance
Marvell is updating its modern-day quarter revenue steering to mirror the Wi-Fi Connectivity commercial enterprise sale to NXP. The Company now anticipates fourth quarter FY20 revenue of $710 million +/- three% vs. Authentic guidance for $750 million +/- three% as provided on the time of the 1/3 area earnings declaration on December 3, 2019.
