Marvell agreed to buy Lumentum in an all-stock deal. The transaction values Lumentum at $115 billion including debt. Lumentum shareholders will receive 4.5 Marvell shares per share held. Marvell shareholders will own about 67% of the combined company. Lumentum shareholders will own about 33%. The deal targets AI data center connectivity needs. It combines Marvell’s electrical and optical interconnects with Lumentum’s lasers and transceivers. Matt Murphy will remain chairman and CEO of the merged firm. The combined company’s addressable market expands to $550 billion. Both boards have unanimously approved the agreement.
What changed
Marvell and Lumentum operated as separate companies with distinct technology portfolios.
What it unlocks
Combining electrical and optical technologies for AI data center connectivity under one company.
- $115B all-stock deal
- $1,132 per Lumentum share
- 23.9% premium over Oct 28 close
- $550B combined addressable market
What you need to act on it
- board approval from both companies
- regulatory clearance
- Lumentum shareholder approval
Sources