Marvell agrees to buy XConn Technologies for about $540 million

Marvell agreed to acquire XConn Technologies, a maker of PCIe and CXL switching chips, for roughly $540 million, about 60% cash and 40% stock. The deal adds switch silicon and engineers to Marvell's UALink scale-up switch team for AI data centers. Closing was expected in early calendar 2026.

• Purchase price about $540 million
• Consideration about 60% cash, 40% stock
• Adds PCIe and CXL switching chips to the UALink scale-up team
• Expected to close in early calendar 2026