Marvell to Acquire Lumentum in $115B All-Stock Deal, Integrating Optical Circuit Switching and AI Interconnect Chips

Marvell announced a definitive agreement to acquire Lumentum in an all-stock transaction valued at approximately $115B, deeply integrating its electrical interconnect and custom silicon business with Lumentum's lasers, compound semiconductors, and optical circuit switching (OCS) technologies. The deal aims to address the physical limitations of copper cabling in AI clusters driven by surging network bandwidth demands. Following the merger, Marvell shareholders will own 67% of the combined company, with the transaction expected to close in the first half of 2028.