Marvell acquires XConn for $540 million

"Marvell Technology is acquiring XConn Technologies for $540 million (€462 million). The acquisition is intended to strengthen Marvell's position in PCIe and CXL switching for AI data centers. With this acquisition, Marvell is focusing on scalability in AI infrastructure. As AI workloads grow, data center designs are evolving from single-rack to multi-rack configurations. These require high-bandwidth, ultra-low latency scale-up fabrics. UALink, a new open industry standard, is designed to enable efficient communication between multiple accelerators."

"The transaction is expected to close in early 2026, subject to customary conditions and regulatory approvals. Expansion of CXL and PCIe portfolio With XConn, Marvell adds proven PCIe and CXL switch products to its portfolio. XConn already has PCIe 5 and CXL 2.0 switches in production, while PCIe 6 and CXL 3.1 switches are currently being sampled with customers."

Marvell Technology is acquiring XConn Technologies for $540 million, paid 60 percent cash and 40 percent stock (about 2.5 million shares), with closing expected in early 2026 subject to customary conditions and regulatory approvals. XConn brings PCIe 5 and CXL 2.0 switches in production and PCIe 6 and CXL 3.1 switches sampling with customers. Marvell plans XConn revenues to begin in the second half of fiscal 2027, with non-GAAP profitability and about $100 million revenue forecast for fiscal 2028. The acquisition aims to strengthen Marvell's PCIe/CXL portfolio, accelerate UALink scale-up fabrics, and support multi-rack AI data-center connectivity.

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