Bermuda-based chipmaker Marvell to buy rival Cavium for $6b in cash

REUTERS/Dado Ruvic

Marvell Technology Group Ltd., a chipmaker looking to build itself a future outside of a declining area of the market, agreed to buy Cavium Inc. for about $6 billion, a person familiar with the transaction said.

The deal will involve a mix of cash and stock, said the person who asked to not be identified because the transaction is still private. The companies aim to announce the details as soon as Monday, the person said. Reuters earlier reported the tie up between the chipmakers.

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