Santa Clara, United States - January 6, 2026 - Marvell Technology has agreed to acquire XConn Technologies in a deal valued at approximately USD 540 million, as the U.S. semiconductor company sharpens its focus on high-performance connectivity solutions for AI-driven data center infrastructure.
The transaction, which will be funded through a combination of cash and stock, is expected to close in early 2026, subject to regulatory approvals and customary closing conditions. Marvell said the acquisition will significantly expand its portfolio of PCIe and Compute Express Link (CXL) switching silicon, technologies that are increasingly critical for scaling large AI and cloud workloads inside modern data centers.
XConn specializes in advanced PCIe Gen 5 and CXL 2.0 switches, with next-generation PCIe Gen 6 and CXL 3.1 products currently in development. These components are designed to enable low-latency, high-bandwidth connections between CPUs, GPUs, accelerators, and memory across rack-scale and cluster-scale architectures.
Marvell Chairman and CEO Matt Murphy said the deal strengthens the company’s position in AI infrastructure. “XConn’s switching technology and engineering talent meaningfully expand our data center connectivity capabilities and accelerate our strategy to deliver end-to-end solutions for next-generation AI platforms,” Murphy said in a statement.
XConn CEO Gerry Fan said joining Marvell would allow the company to scale its technology more rapidly. “By combining XConn’s high-port-count PCIe and CXL switching solutions with Marvell’s SerDes expertise, system knowledge, and global reach, we are well positioned to support the most demanding AI and cloud data center deployments,” Fan said.
Marvell expects XConn’s products to begin contributing to revenue in the second half of fiscal 2027, with the combined business projected to generate around USD 100 million in annual revenue by fiscal 2028. The company added that the acquisition is expected to be accretive to non-GAAP earnings once integrated.
Industry analysts view the acquisition as part of Marvell’s broader pivot away from slower-growing telecom markets toward AI-centric data center technologies, where demand for high-speed interconnects is accelerating. Following the announcement, Marvell shares rose, reflecting investor confidence in the company’s strategy to deepen its exposure to AI infrastructure spending.
As AI models continue to scale and data centers evolve toward increasingly disaggregated architectures, connectivity technologies such as PCIe and CXL are becoming central to system performance. Marvell’s acquisition of XConn underscores how chipmakers are racing to secure critical intellectual property needed to support the next generation of AI-ready data centers
