Marvell Technology agrees to acquire Lumentum in deal with $115 billion enterprise value
Marvell Technology agreed to acquire optical-components maker Lumentum in an all-stock deal with an implied enterprise value of about $115 billion. Lumentum shareholders would receive 4.5 Marvell shares each, a 23.9% premium to unaffected Oct. 28 closing prices. Marvell shareholders are expected to own about 67% of the combined company; the companies say AI connectivity market could reach $550 billion.
More context
Marvell Technology announced Monday, November 2, that it would purchase optical-components maker Lumentum through a stock-only transaction implying an enterprise value of about $115 billion, one of the largest technology acquisitions of 2026. The deal combines Marvell’s semiconductor and networking businesses with Lumentum’s optical technologies, which support communication between processors and servers in data centers. Lumentum shareholders will receive 4.5 Marvell shares for each share they own, valuing each Lumentum share at about $1,132 and representing a 23.9% premium to unaffected closing prices on October 28. After the merger, Marvell shareholders are projected to hold about 67% of the combined company on a fully diluted basis, while Lumentum shareholders would own about 33%. Both companies’ boards unanimously approved the agreement. The companies say the combination targets an AI connectivity market that could reach $550 billion.
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Reporting
- Citybiz — Marvell to Acquire Lumentum in $115 Billion All-Stock Deal to Expand AI Connectivity Business | citybiz
- CTech — Marvell acquires Lumentum in $115 billion push to dominate AI connectivity | Ctech
- Benzinga — Marvell to Buy Lumentum in $115 Billion All-Stock Deal - Marvell Technology (NASDAQ:MRVL), Lumentum Holdings…
- pymnts.com — CPI | Marvell to Buy Lumentum for $115 Billion in Major AI Infrastructure Bet
- bizjournals.com — Marvell to acquire Lumentum in $115B all-stock deal, one of tech's largest ever
- ad-hoc-news.de — Marvell Technology stock faces test after Lumentum deal
Verifier’s note
citybiz.co, PYMNTS, CTech, Benzinga, Silicon Valley Business Journal, and ad-hoc-news.de all report that Marvell agreed to acquire Lumentum. PYMNTS and CTech identify or reproduce Reuters reporting; the other publishers report the same current deal without evidence here that they are copies of one another.