Friday, May 14, 2021

Shareholders Approve the Proposed Acquisition of Inphi Corporation; Shareholders Approve Marvell’s Reorganization of the Combined Company into Delaware

Marvell Technology Group Ltd. (NASDAQ: MRVL) (“Marvell”) announced that its shareholders have voted to approve the previously announced proposed acquisition of Inphi Corporation, Inc. (NASDAQ: IPHI) and also Marvell’s proposal to reorganize so that the combined company will be domiciled in the United States. In a preliminary count of the voting results from today’s meeting of shareholders, more than 99 percent of votes represented in person or by proxy were voted in favor of approving these proposals. At a meeting held today prior to the Marvell shareholder vote, Inphi Corporation shareholders voted to approve the merger with Marvell. Marvell expects the transaction to close on or around April 20, 2021, subject to customary closing conditions.

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The final voting results on all agenda items for each company’s special meeting will be disclosed in separate Current Reports on Form 8-K to be filed with the Securities and Exchange Commission.

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