Marvell to acquire Lumentum for $115 billion
Semiconductor firm Marvell has agreed to acquire optical communications company Lumentum in a $115 billion all-stock deal.
Semiconductor company Marvell has announced a definitive agreement to acquire Lumentum in an all-stock transaction valued at approximately $115 billion. The deal represents one of the largest acquisitions in the history of the semiconductor industry.
The acquisition is driven by the shift in AI data center architecture from copper cabling to optical interconnects. As data traffic and AI cluster sizes grow, bandwidth and power constraints in traditional systems have pushed high-speed laser and silicon photonics technologies to the forefront. Marvell aims to secure access to these critical, supply-constrained components to enhance its position in data center networking.
Under the terms of the agreement, Marvell CEO Matt Murphy will remain at the helm of the combined entity. The transaction is subject to shareholder and regulatory approval, with completion expected by the first half of 2028.