On January 6, 2026, Marvell Technology, a leader in data infrastructure semiconductor solutions, announced it has entered into a definitive agreement to acquire XConn Technologies, a provider of advanced PCIe and CXL switching silicon. Wilson Sonsini Goodrich & Rosati is advising Marvell on the transaction.

The acquisition expands Marvell’s switching portfolio by adding XConn’s PCIe and CXL products and augments Marvell’s Ultra Accelerator Link (UALink) scale-up switch team, adding highly experienced engineering talent with deep domain expertise in high-performance switching. UALink is a new open industry standard purpose-built for scale-up connectivity, enabling efficient, high-speed communication so multiple accelerators can operate together as a single, larger system. UALink builds on decades of PCIe ecosystem innovation and incorporates proven high-speed I/O techniques to meet the bandwidth, latency, and reach requirements of next-generation accelerated infrastructure.

Marvell will acquire XConn for consideration valued at approximately $540 million, to be paid in a mix of approximately 60 percent cash and 40 percent stock, with the stock portion valued based on Marvell’s 20-day volume weighted average price. The stock consideration is expected to represent approximately 2.5 million shares of Marvell common stock. The transaction is expected to close in early calendar 2026, subject to customary closing conditions and regulatory approvals.

The Wilson Sonsini team advising Marvell on the transaction is led by Rob Ishii, Ethan Lutske, Allison Spinner, Brendan Coffman, and Ben Labow.

For more information, please see Marvell's news release. Additional coverage can be found on Reuters and Barron's.