Marvell Technology Group Ltd’s $452 Million Acquisition of Aquantia Corp.


Hogan Lovells is advising semiconductor solutions provider Marvell Technology Group Ltd. on the deal

Marvell Technology Group Ltd. (NASDAQ: MRVL), a leader in infrastructure semiconductor solutions, and Aquantia, Corp. (NYSE: AQ), a leader in Multi-Gig Ethernet connectivity, executed a definitive agreement, approved by the boards of directors of both companies, under which Marvell will acquire all outstanding shares of Aquantia common stock in exchange for consideration of $13.25 per share in cash.

The acquisition of Aquantia complements Marvell’s portfolio of copper and optical physical layer product offerings and extends its position in the Multi-Gig 2.5G/5G/10G Ethernet segments. In particular, Aquantia’s innovative Multi-gig automotive PHYs, coupled with Marvell’s industry-leading gigabit PHY and secure switch products, creates the broadest and most advanced range of high-speed in-car networking solutions in the world. This unique combination accelerates Marvell’s vision for the future of automotive networking with speeds necessary to enable level 4 and 5 autonomous driving.

As the automotive industry increasingly adopts Ethernet in-vehicle networks for mainstream models, the number of related ports is expected to grow dramatically at a 62% annualized growth trajectory, from 53 million in 2018 to 367 million by 20221.

The Hogan Lovells team was led by Northern California-based M&A partners Richard Climan (Picture) and Christopher Moore. IP partner John Brockland, Employee Benefits and Executive Compensation practice partner Mike Frank, Regulatory partner Brian Curran, Corporate senior associates Kathryn Raffensperger and Laura Szarmach, IP associate Max Scott, and Regulatory associate Zach Alvarez also provided key support.

Involved fees earner: Zachary Alvarez – Hogan Lovells; John Brockland – Hogan Lovells; Richard Climan – Hogan Lovells; Brian Curran – Hogan Lovells; Michael Frank – Hogan Lovells; Christopher Moore – Hogan Lovells; Kathryn Raffensperger – Hogan Lovells; Max Scott – Hogan Lovells; Laura Szarmach – Hogan Lovells;

Law Firms: Hogan Lovells;

Clients: Marvell Technology Group Ltd. ;

Author: Ambrogio Visconti