Marvell to Acquire Optical Components Maker Lumentum in $1150 Billion All-Stock Deal
11/02/2026 — 11/02, 22:16·6 sources (all)·8 reports (all)·In the 2026-11-02 briefing
Key takeaways
- Marvell has agreed to acquire data center optical components maker Lumentum in an all-stock transaction valued at approximately $1150 billio…
Background & analysis
On November 2, 2026, Marvell Technology announced that it had reached a definitive agreement to acquire optical components maker Lumentum Holdings in an all-stock transaction valuing Lumentum at an enterprise value of roughly $115 billion, or about $1,132 per share. Reports from Bloomberg and Reuters shortly after described the deal as one of the biggest technology tie-ups ever and the largest M&A transaction of 2026.
Under the terms of the agreement, Lumentum shareholders will receive 4.5 shares of Marvell common stock for each Lumentum share they hold. Once the transaction closes, current Marvell shareholders are expected to own about 67% of the combined company, with Lumentum shareholders holding roughly 33%. Marvell CEO Matt Murphy is set to continue leading the combined business. Multiple outlets reported a premium of approximately 23.9%, measured against the closing prices of both companies on October 28, 2026, before reports of a potential deal began circulating.
According to the coverage, the acquisition is aimed at combining Marvell's capabilities in semiconductors, network switching, and electrical interconnect with Lumentum's strengths in high-performance lasers, optical transceivers, and optical switching, thereby connecting the chip-to-optics supply chain for AI data center infrastructure. Reuters reported that Marvell sees the move as a way to compete against Broadcom, and noted that Nvidia had invested $2B in each company in 2026. Bloomberg added that Lumentum shares had risen 128% year to date, giving the company a market capitalization of about $76B.
In terms of outlook, Marvell projected that the merger would deliver more than $1 billion in annual cost synergies and boost non-GAAP earnings per share in the first year after completion. The combined company's targeted market is expected to expand to $550 billion. The transaction remains at the announcement stage: it is slated to close in the first half of 2028 and still requires approval from shareholders of both companies as well as regulatory authorities.
AI-generated from 6 reports · updated 1 hour ago
Latest turnAccording to The Next Web, Marvell Technology has agreed to acquire Lumentum in an all-stock deal valued at $115 billion including debt. Lumentum supplies lasers and optical components for AI data centers, and its shareholders will receive 4.5 Marvell shares per share owned.
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According to The Next Web, Marvell Technology has agreed to acquire Lumentum in an all-stock deal valued at $115 billion including debt. Lumentum supplies lasers and optical components for AI data centers, and its shareholders will receive 4.5 Marvell shares per share owned.
The Next WebAI score 71Marvell has agreed to acquire data center optics maker Lumentum at an enterprise value of $115 billion, Bloomberg reports. The deal ranks among the largest tech acquisitions ever and is 2026's biggest M&A transaction. Lumentum shares are up 128% year to date, giving it a market cap of roughly $76 billion.
TechmemeAI score 62According to Reuters, Marvell has agreed to acquire optical components maker Lumentum in a $115 billion all-stock deal to rival Broadcom, following $2 billion investments in each company by Nvidia in 2026. The acquisition aims to combine their optics portfolios for AI infrastructure.
TechmemeAI score 64Lumentum reported Q1 FY2027 net revenue of $1.263 billion, up 136.5% year-over-year, with guidance significantly beating estimates. CEO Michael Hurlston disclosed a second major CPO project win backed by over $5 billion in purchase commitments, underscoring strong optical hardware demand driven by AI infrastructure investments.
华尔街见闻AI score 63Marvell and Lumentum have reached a definitive agreement for Marvell to acquire Lumentum in an all-stock deal with an enterprise value of approximately $115 billion. The transaction aims to integrate optical interconnects for AI infrastructure, expected to close in the first half of 2028.
IT之家AI score 66According to Bloomberg Technology, Marvell has agreed to acquire data center optics maker Lumentum Holdings for an enterprise value of $115 billion. This marks one of the largest tech tie-ups aimed at capitalizing on the infrastructure demand of the artificial intelligence boom.
Bloomberg TechnologyAI score 65Marvell has announced an all-stock agreement to acquire optical component manufacturer Lumentum at an implied enterprise value of approximately $115 billion. The mega-deal aims to combine semiconductor and optical technologies to strengthen AI data center connectivity, with completion expected in the first half of 2028.
华尔街见闻AI score 81According to Cailian Press, Marvell Technology has reached a definitive agreement to acquire Lumentum in an all-stock transaction valued at roughly $115 billion, representing a ~23.9% premium. The combined company's addressable market is expected to expand to $550 billion.
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