Marvell buys Lumentum for $115B in one of the largest tech deals in history
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Custom chip designer Marvell has agreed to acquire optical chip and networking equipment maker Lumentum in an all-stock transaction valued at $115 billion including debt, with an equity value of approximately $80 billion. Under the terms, Lumentum shareholders will receive 4.5 shares of Marvell common stock for each share. Both companies share Nvidia as a major shareholder, following separate $2 billion investments by Nvidia earlier in the year. The acquisition is expected to close in the first half of 2028 pending shareholder and regulatory approval.
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