Form: 8-K

Current report

January 24, 2001

EXHIBIT 99.2

Published on January 24, 2001


EXHIBIT 99.2

MARVELL TECHNOLOGY GROUP LTD. COMPLETES ACQUISITION OF GALILEO TECHNOLOGY LTD.

SUNNYVALE, Calif. and MANOF, Israel--(BUSINESS WIRE)--Jan. 22, 2001--Marvell
Technology Group Ltd. (Marvell) (NASDAQ: MRVL), a technology leader in the
development of extreme broadband DSP-based mixed-signal integrated circuits for
communications signal processing markets, today announced that it has completed
the acquisition of Israel-based Galileo Technology Ltd. (Galileo).

Galileo, a market leader in communications systems on silicon, is one of the
semiconductor industry's fastest growing suppliers of complex, high-performance,
integrated circuit devices serving the needs of the LAN, MAN and WAN markets.
Galileo is now a wholly-owned subsidiary of Marvell Technology Group Ltd. and
will continue operations in Manof, Israel and San Jose, Calif. With Marvell and
Galileo's technology leadership, the combined company is now positioned to
provide a complete end-to-end solution for building networked communications
systems. The merger also positions Marvell for significantly broader market
opportunities in areas such as 10 Gigabit Ethernet, wireless and terabit-class
communication solutions.

In connection with the acquisition, Marvell will issue approximately 29.1
million shares of its common stock to Galileo shareholders, which represents
approximately 25% of the outstanding shares of Marvell common stock after the
merger on a fully diluted basis. The acquisition will be accounted for under the
purchase method of accounting and is immediately accretive. Shortly after the
merger is effective, materials will be mailed to Galileo shareholders along with
a letter of transmittal, which will instruct Galileo shareholders how to
exchange their shares of Galileo for shares of Marvell.

Commencing today, revenue from Galileo's products will be reported as a
component of Marvell's total data communications revenue. For it's most recent
quarter ended December 31, 2000, Galileo recorded record revenue of $33.3
million, which represented an increase of 16% from the prior quarter, and
earnings per share of $0.16. Galileo's new products, namely the GalNet(R) 2+,
GalNet 3 and the Horizon(TM) families, continue to gain momentum in the market.
Additionally, in December 2000, Galileo introduced its next-generation system
controller platform, the Discovery family, for MIPS and PowerPC processors. As a
combined company, Marvell has attained over 160 broadband communications design
wins.

About Marvell

Marvell, comprises Marvell Technology Group Ltd. (MTGL) and its subsidiaries,
Marvell Semiconductor Inc. (MSI), Marvell Asia Pte Ltd. (MAPL), Marvell Japan
K.K. (MJKK), and Galileo Technology Ltd. (GALT). On behalf of MTGL, MSI designs,
develops and markets integrated circuits utilizing proprietary Communications
Mixed-Signal Processing (CMSP) and digital signal processing technologies for
communications signal processing markets. MAPL is headquartered in Singapore and
is responsible for Marvell's production and distribution operations. GALT
develops high-performance communications Internetworking and Switching products
for the data networking market. As used in this release, the terms "Company" and
"Marvell" refer to the entire group of companies. The Company applies its
technology to the extreme broadband communications market where its products are
used in network access equipment to provide the interface between communications
systems and data transmission media. MSI is headquartered at 645 Almanor Ave.,
Sunnyvale, Calif., 94085; phone: (408) 222-2500, fax: (408) 328-0120.



SAFE HARBOR STATEMENT OF MARVELL UNDER THE PRIVATE SECURITIES LITIGATION REFORM
ACT OF 1995:

This release may contain forward-looking statements based on our current
expectations, estimates and projections about our products, our industry, our
markets, management's beliefs, and certain assumptions made by us. Words such as
"anticipates," "expects," "intends," "plans," "believes," "seeks," "estimates,"
"may," "will," "should," and variations of these words or similar expressions,
are intended to identify forward-looking statements. In addition, any statements
that refer to expectations, projections or other characterizations of future
events or circumstances, including any underlying assumptions, are
forward-looking statements. These statements are not guarantees of future
performance and are subject to certain risks, uncertainties and assumptions that
are difficult to predict. Therefore, market results may differ materially and
adversely from those expressed in any forward-looking statements in this
release.

Important risks, uncertainties and assumptions that may cause such a difference
for Marvell include, but are not limited to, the timing, cost and successful
completion of technology and product development through volume production; the
rate at which our present and future customers and end-users adopt this product;
the timing and results of customer-industry qualification and certification of
our products; the timing, pricing, rescheduling, or cancellation of significant
customer orders; the risk that the Marvell and Galileo businesses will not be
integrated successfully; and, costs related to the business combination.

For other factors that could cause the Company's results to vary from
expectations, please see the 'Risk Factors' section of Marvell's Registration
Statement on Form S-4 relating to the Company's merger and the Company's
Quarterly Report on Form 10-Q for the quarter ended October 31, 2000.

We undertake no obligation to revise or update any forward-looking statements
for any reason.

- -----------------

Contact:

Marvell
George Hervey, 408/222-2500