Marvell Announces All-Stock Acquisition of Optical Interconnect Vendor Lumentum

Marvell and Lumentum have entered into a definitive agreement under which Marvell will acquire Lumentum in an all-stock transaction representing an implied enterprise value of approximately $115 billion. Under the terms of the agreement, Lumentum shareholders will receive 4.500 shares of Marvell common stock for each share owned. Upon closing, existing Marvell shareholders will own approximately 67% of the combined company. The transaction is expected to close in the first half of 2028.