Marvell Technology is nearing a deal to acquire Inphi for as much as USD 10 billion, people familiar with the matter told the Wall Street Journal. An agreement could be announced as soon as 29 October, the report said.
The acquisition would help Marvell expand in the growing market for networking chips. The company last year exited the wireless segment in order to focus more on infrastructure products. Inphi's strong market position in data centre products has helped push up its stock price around 50 percent this year.
Marvell has a market capitalisation of around USD 26 billion. Its last major takeover was Cavium in 2018, for USD 6.4 billion.
