10/29, 6:01 AM (Source: TeleTrader)
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Marvell to buy semiconductor maker Inphi - report

Marvell Technology Group Ltd. is close to striking a deal to acquire Inphi Corporation, a California-based technology company that specializes in semiconductor components, The Wall Street Journal reported, citing sources familiar with the matter.

An agreement, worth approximately $10 billion, could be announced later in the day, the report read.

The acquisition would allow Marvell, which bases its operations mostly on chip production, to expand its share in the networking niche, the outlet added, noting that Inphi has managed to boost its stock value by more than 50% this year thanks to the growth in that particular sector.

Breaking the News / BU