Marvell to acquire Lumentum in $115 billion AI connectivity deal
Summary
Marvell Technology announced an all-stock deal to acquire Lumentum Holdings, valuing the transaction at $115 billion. Marvell says the combined company would bring together products used in data centers and serve demand for AI connectivity; the deal needs shareholder approval and is expected to close in the first half of 2028.Key Facts
- Marvell makes semiconductor products for data infrastructure.
- Lumentum manufactures lasers, circuit switches and other products used in data centers.
- Marvell says the companies’ technologies and engineering teams could support a broader range of customer needs.
- The transaction is an all-stock deal valued at $115 billion.
- The deal is subject to stockholder approval.
- Marvell expects the deal to close in the first half of 2028.
- Marvell shares fell more than 1% before the market opened, while Lumentum shares fell almost 3% after the announcement.
- Nvidia said earlier in 2026 that it was buying a $2 billion stake in Lumentum, according to Bloomberg.
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