May 29 (Reuters) - Chipmaker NXP Semiconductors NV said on Wednesday it will buy Marvell Technology Group Ltd’s wireless connectivity portfolio for $1.76 billion in cash.
The transaction is expected to close by the first quarter of 2020.
Shares of Marvell up 3.84% at $22.17 before the bell. (Reporting by Sayanti Chakraborty in Bengaluru; Editing by Shinjini Ganguli)
