Marvell Technology to buy rival chipmaker Cavium for $6 billion | Reuters

Reuters| Mon Nov 20 10:00:02 EST 2017
(Reuters) - Chipmaker Marvell Technology Group Ltd (MRVL.O) said on Monday it would buy smaller rival Cavium Inc (CAVM.O) for about $6 billion, as it seeks to expand its wireless connectivity business in a rapidly consolidating semiconductor industry. Shares of Marvell were down 0.8 percent to $20.14, while Cavium was up 7 percent at $81.14 in early trading. Chief Executive Matthew Murphy, who took the top job a year ago, has been focusing on Marvell’s networking business to counteract declining demand for its chips used in hard disk drives of personal computers. Murphy last year replaced former CEO Sehat Sutardja and President Weili Dai - a husband-wife team who co-founded the company - aft..

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