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Marvell To Buy Celestial AI In Up To $5.5B Deal
(MENAFN- AsiaNet News)
Marvell Technology, Inc. (MRVL) said on Tuesday that it has entered into a definitive agreement to acquire Celestial AI for an upfront consideration of $3.25 billion, including both cash and stock.
The company said that it would also pay Celestial AI equit yholders incremental contingent consideration of up to approximately 27.2 million shares of Marvell common stock, having a value of up to $2.25 billion, upon the achievement of certain revenue milestones.
The deal is expected to close in the first quarter of 2026, upon the receipt of necessary approvals.
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