Confirmed
Marvell signs Lumentum acquisition agreement at $115 billion enterprise value
Marvell announced an all-stock agreement to acquire Lumentum on 2 November 2026, at an enterprise value of $115 billion including debt. The deal targets optical connections in AI data centers.
Lumentum shareholders would receive 4.5 Marvell shares for each share and own about 33% of the combined group, with Marvell shareholders holding 67%.
Lumentum supplies lasers and optical components connecting computing equipment, while Marvell provides chips and data-transmission technology. The combination addresses rising data-transfer requirements in AI infrastructure.
This is an acquisition agreement, with completion still pending. Closing requires regulatory clearance and shareholder approval. The companies target the first half of calendar 2028.