Marvell pays $115bn for Lumentum in AI optics push
Marvell Technology AI data center growth is the aim of a $115 billion all-stock Lumentum buy, including debt, as the firm races Broadcom on optical links.
Marvell Technology is buying Lumentum in a $115 billion all-stock deal, including debt, announced on Monday.
Lumentum holders get 4.5 Marvell shares each, about 33% of the combined company; close is expected in the first half of 2028.
Equity value is about $102.54 billion at $1,132 per Lumentum share, a 23.9% premium to the October 28 close.
Pre-bell, Lumentum fell 6.5% and Marvell 2.3% amid wider AI stock worries.
Marvell CEO Matt Murphy will remain chairman and CEO of the combined company.