Marvell agrees to acquire Lumentum

What happened

Marvell entered the merger agreement on November 1, 2026, according to its November 2 filing. The announcement valued Lumentum at approximately $115 billion including debt, with shareholders to receive 4.5 Marvell shares for each Lumentum share. [1][3]

The companies described a combination of electrical interconnects, custom silicon, lasers and optical networking for AI infrastructure. They expected closing in the first half of 2028, subject to shareholder and regulatory approvals; signing did not complete the acquisition. [3]