Marvell to buy Lumentum in $115 billion all-stock deal in AI data-center bet
Marvell Technology agreed to acquire optical-components maker Lumentum in an all-stock deal valuing Lumentum at an implied enterprise value of $115 billion, one of the largest tech takeovers ever. Lumentum holders get 4.5 Marvell shares per share, about $1,132 each and a 23.9% premium, and will own roughly 33% of the combined company. Marvell is betting AI data centers will keep driving demand for optical connectivity as it steps up its challenge to Broadcom; Nvidia invested $2 billion in each company earlier this year. The deal is expected to close in the first half of 2028.
Source: Reuters