Marvell agrees to buy Lumentum in an $115 billion deal focused on AI data center technology
Marvell announced it would acquire Lumentum, offering shareholders $115 billion in stock. The deal values Lumentum at $115 billion including debt and is expected to close in the first half of 2028. Lumentum produces lasers and optical hardware for data centers. Shares dropped 6.5 percent before the announcement, trading near $900.
- Marvell offers Lumentum shareholders a total of 115 billion dollars in stock.
- Marvell CEO Matt Murphy stated the AI infrastructure market is fundamentally changing toward optical connection technology.
- The acquisition values Lumentum at US$ 115 billion, including debt.
- Lumentum manufactures lasers, chips, and optical interconnect hardware for data center servers.
- The transaction is expected to close in the first half of calendar 2028.
- Lumentum shares fell 6.5 percent before the bell.
- Marvell forecasts fiscal 2031 sales between $70 billion and $90 billion.
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