US semiconductor giant Marvell said on Thursday it was buying rival Inphi in a cash and stock deal valued at $ 10 billion, the industry’s second major tie-up towards cloud computing and 5G wireless
The deal combines Marvell’s strength in the digital storage industry with Inphi’s operations in high-speed data movement
The news comes two days after Advanced Micro Devices announced it had reached a deal to buy chipmaker rival Xilinx in a $ 35 billion megadeal
Silicon Valley-based Marvell and Inphi are said to have a combined enterprise value of $ 40 billion in deal slated to close in 2021
« Our acquisition of Inphi will fuel Marvell’s leadership in the cloud and expand our 5G position over the next decade, » said Matt Murphy, president and CEO of Marvell
« Inphi’s technologies are at the heart of cloud data center networks and continue to extend their leadership with innovative new products, » he said
The companies said their operations are complementary and would result in cost savings of around $ 125 million from synergies
Inphi, Marvell Technology Group, Stock, NASDAQ: IPHI
World News – CA – Marvell to Acquire Inphi in Latest Partnership with Chipmaker
