Marvell Technology to acquire Innovium for $1.1bn.

Marvell Technology, a provider of infrastructure semiconductor solutions, agreed to acquire Innovium, a provider of networking solutions for cloud and edge data centers, for $1.1bn. The transaction is expected to close by the end of calendar 2021, subject to the satisfaction of customary closing conditions, including approval by Innovium's shareholders and applicable regulatory approvals. "Our acquisition of Innovium and its complementary offerings further extends Marvell's leadership in the cloud, and I am excited that Innovium has secured significant share at a marquee cloud customer. Innovium has established itself as a strong cloud data center merchant switch silicon provider with a proven platform, and we look forward to working with their talented team who have a strong track record in the industry for delivering multiple generations of highly successful products," Matt Murphy, Marvell President and CEO.