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Tuesday, 31 December 2013 12:22

Marvell gets new investor

Written by Nick Farrell



Not a Thor point after all

Private equity firm KKR has bought a 6.8 percent stake in chipmaker Marvell Technology which sadly has nothing to do with the comic outfit. 

Marvell's shares rose about 5 percent on the news after rumours started that the outfit might try to merge or reorganise the business. Marvell flogs chips to flash drive and mobile and wireless device makers, in November forecast fourth-quarter revenue above analysts' estimates.

Nearly half Marvell's revenue last year came from storage customers such as Western Digital and Seagate, for whom it makes chips used for reading and writing data on hard-disk and flash drives.

Nick Farrell

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