Mergers & Acquisitions ·
Marvell agrees to acquire Lumentum for $115 billion enterprise value in all-stock deal
MRVLMarvell Technology, Inc.
Marvell Technology and Lumentum announced a definitive agreement for Marvell to acquire Lumentum in an all-stock transaction with an implied enterprise value of $115 billion. Lumentum shareholders will receive 4.500 shares of Marvell common stock for each share held, representing approximately 33% ownership of the combined entity on a fully diluted basis. The merger is expected to close in the first half of calendar year 2028, subject to regulatory approvals and stockholder consent. The combination aims to create a category leader in AI connectivity by integrating Marvell's electrical interconnect technologies with Lumentum's optical solutions, targeting over $1 billion in annual run-rate cost synergies. Marvell Technology designs semiconductor solutions for data infrastructure.