Marvell Technology announced acquiring XConn Technologies for $540 million to strengthen its presence in data center hardware for artificial intelligence infrastructure. The deal includes cash and stock, with Marvell issuing 2.5 million shares. Marvell expects XConn products to boost sales and profit, reaching $100 million in revenue by fiscal 2028.

The acquisition will help Marvell expand its networking portfolio, essential for AI data centers. Marvell’s shares rose over 2% in early trading, following a 23% drop last year due to competition from Broadcom and Nvidia. The transaction is expected to close in early 2026, enhancing Marvell’s connectivity strategy for next-generation AI and cloud data centers.

Read more at Yahoo Finance: Marvell to buy networking equipment firm XConn in $540 million deal amid AI infrastructure push