Marvell announced that it will acquire PCIe/CXL switching solution provider XConn for a total consideration of approximately $540 million in cash and stock. The transaction is expected to be completed in early 2026. XConn has established partnerships with over 20 clients, with its PCIe 5/CXL 2.0 switches already in production, while its next-generation PCIe 6/CXL 3.1 products are currently in the sampling phase.
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