(Reuters) Chipmaker Marvell Technology Group Ltd (MRVL.O) has agreed to acquire smaller peer Cavium Inc (CAVM.O) for around $6 billion, as it seeks to expand in the networking equipment sector, people familiar with the matter said on Sunday. The deal will allow Marvell to diversify away from its traditional storage devices business following an agreement with Starboard Value LP last year to accept three new directors nominated by the activist hedge fund to its board.
Marvell Technology Clinches Roughly $6bn Deal To Buy Cavium
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