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Marvell Technology Inc. has entered a definitive agreement to acquire XConn Technologies for approximately $540 million, expanding its portfolio in PCIe and CXL switching silicon. This acquisition enhances Marvell's UALink scale-up switch team with experienced engineers and targets the growing demand for high-bandwidth data center connectivity.

The deal aims to support evolving AI workloads and is expected to contribute revenue by the second half of fiscal year 2027, reaching about $100 million in fiscal 2028. The transaction will close in early calendar 2026, pending regulatory approvals.