Marvell stock whipsaws after $540 million XConn deal puts AI data-center switching in focus
Marvell Technology said Tuesday it will acquire XConn Technologies for about $540 million in cash and stock. Marvell shares fell 1.1% to $89.26 after the announcement. The company expects XConn products to start adding revenue in the second half of fiscal 2027 and reach about $100 million by fiscal 2028.