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 Syed Ali. The combined companies will be led by Murphy, with Cavium co-founder and CEO Matt Murphy 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.
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.