Bermuda - based Marvell Technology will acquire California chip manufacturer Cavium in a cash - and - shares deal worth $ 6bn . " This combination expands and expands our revenue base and end markets , " said Marvell & Matt Murphy . The combined companies will be led by Murphy , with Cavium co - founder and CEO ben Ali retained as strategic adviser and board member . The deal represents the latest activity in the chip manufacturing sector , following Qualcomm 's rejection of an unsolicited $ 500 bid from Broadcom . The deal has been approved by both boards of directors and is likely to complete in the middle of 2018 .
Bermuda-based Marvell Technology will acquire California chip manufacturer Cavium in a cash-and-shares deal worth $6bn. "This combination expands and diversifies our revenue base and end markets," said Marvell CEO Matt Murphy. The combined companies will be led by Murphy, with Cavium co-founder and CEO Syed Ali retained as strategic adviser and board member. The deal represents the latest activity in the chip manufacturing sector, including Qualcomm's rejection of an unsolicited $130bn bid from Broadcom. The deal has been approved by both boards of directors and is likely to complete in the middle of 2018.