News – CA – Marvell buys Inphi, creating $ 40 billion semiconductor giant

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Michael Pachter, Managing Director of Wedbush Securities, and Jay Jacobs, SVP of Global X Funds, speak at the Big Tech hearing

Marvell Technology Group has agreed to buy Inphi Corp for around $ 10 billion in cash and shares, making it the second mega-deal this week

Chipmaker plans to revamp the combined company and home in the US, creating a $ 40 billion semiconductor powerhouse

« Our acquisition of Inphi will fuel Marvell’s leadership in the cloud and expand our 5G position over the next decade, » Marvell CEO Matt Murphy said in a statement.

Under the terms of the deal, Inphi shareholders will receive $ 66 in cash and 2,323 Marvell shares for every Inphi share they own The deal represents a premium of around 74% over the $ 5 76 billion in market capitalization with Inphi closed on Wednesday

Marvell shareholders will own 83% of the merged company while Inphi shareholders will control the remaining 17%

The deal is expected to create $ 125 million in synergies that will be realized within 18 months of closingMarvell expects the deal to increase non-GAAP earnings in the first year

Thursday’s announcement comes two days after Advanced Micro Devices announced its intention to buy Xilinx Inc in a $ 35 billion all-stock deal

Other big deals this year included Nividia Corp’s $ 40 billion Softbank deal for Arm Holdings and $ 20 billion Analog Devices Inc reached to buy Maxim Integrated Products Inc

Quotes displayed in real time or delayed by at least 15 minutes Market data provided by Factset Powered and implemented by FactSet Digital Solutions Legal statement Mutual fund and ETF data provided by Refinitiv Lipper

This material may not be published, broadcast, rewritten or redistributed © 2020 FOX News Network, LLC All rights reserved FAQ – Updated Privacy Policy

Inphi, Marvell Technology Group, NASDAQ: IPHI, NASDAQ: MRVL

World News – CA – Marvell buys Inphi, creating $ 40 billion semiconductor giant

Source: https://www.foxbusiness.com/markets/marvell-to-buy-inphi-creating-40b-semiconductor-giant

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