(RTTNews) - Marvell Technology, Inc. (MRVL), Tuesday announced an agreement to acquire XConn Technologies, a provider of advanced PCIe and CXL switching silicon, for approximately $540 million.
With this deal, the company plans to expand its switching portfolio with XConn's PCIe and CXL products, advancing Marvell's connectivity strategy for next-generation AI and cloud data centers.
The transaction, expected to close in early calendar 2026, will be paid in a mix of cash and stock.
In the pre-market hours, MRVL is trading at $92.29, up 2.27 percent on the Nasdaq.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
