World News – CA – Marvell to acquire Inphi in latest partnership with chipmaker

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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



SOURCE: https://www.w24news.com/news/world-news-ca-marvell-to-acquire-inphi-in-latest-partnership-with-chipmaker/?remotepost=482677

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