Marvell to acquire Lumentum in $115 billion all-stock AI-connectivity deal
Marvell will combine its electrical and optical interconnect portfolio with Lumentum's lasers, transceivers and photonics manufacturing in a proposed all-stock acquisition targeted to close in the first half of 2028.
Marvell Technology agreed on Nov. 2 to acquire Lumentum in an all-stock transaction that values Lumentum at an implied enterprise value of approximately $115 billion, according to filings by both companies and their joint release.
Lumentum stockholders would receive 4.5 shares of Marvell common stock for each Lumentum share. Based on the companies' stated terms, Marvell shareholders would own about 67% of the combined company after closing and Lumentum shareholders about 33%.
The strategic rationale is to combine Marvell's electrical and optical interconnect, switching and custom-silicon capabilities with Lumentum's lasers, optical transceivers, optical circuit switching and compound-semiconductor manufacturing. The companies said the combination is aimed at the rising bandwidth and energy-efficiency demands of AI infrastructure.
Management said the combined company could have more than $1 billion in annual run-rate cost synergies and a total addressable market of about $550 billion. Those are company estimates, and the transaction remains subject to shareholder, regulatory and other closing conditions.
Implied enterprise value
$115B
transaction value
Exchange ratio
4.5 MRVL
per LITE share
Post-close ownership
67% / 33%
Marvell / Lumentum
Expected closing
H1 2028
subject to approvals
Sources
This story describes figures the company has published. It is for information only and is not investment advice or a recommendation to buy, sell or hold any security. Check the original filings before relying on any figure. Stoqly is not affiliated with the SEC or Marvell Technology.
