Method and apparatus for compressing data. In accordance with various embodiments, an input string of data bits is received and arranged into fixed-sized chunks. Multiple successive chunks of the input string are compared to previously received chunks of the input string during a single clock cycle. At least two alternative encoding solutions are identified based on matches obtained during said comparison. The input string is compressed to form a compressed output string using a selected one of the at least two alternative encoding solutions that achieves a fewer number of bits in said output string.