05:22 PM EDT, 04/07/2025 (MT Newswires) -- Marvell Technology ( MRVL ) said late Monday it has agreed to sell its Automotive Ethernet business to Infineon Technologies for $2.5 billion in cash.

The deal includes Marvell's ( MRVL ) Brightlane Automotive Ethernet product line and related assets, the company said.

"We believe this transaction delivers the strongest financial return for Marvell ( MRVL ) shareholders, given its compelling valuation," said Chief Executive Officer Matt Murphy.

Marvell ( MRVL ) said it expects the business to generate revenue of between $225 million and $250 million in fiscal 2026. It expects to close the deal within this year.

The shares were up about 4% in after-hours activity.