Marvell to acquire Lumentum for $115bn in AI connectivity deal

Summarised from 3 outlets · 4 reports · Updated 2 Nov, 14:22 · Archive

Marvell Technology is acquiring data centre component maker Lumentum in a $115 billion all-stock deal.

Marvell Technology announced that it would acquire Lumentum Holdings in a $115 billion all-stock deal, one of the largest tech industry deals ever. Lumentum manufactures lasers, circuit switches and other components used in data centres, while Marvell makes data infrastructure semiconductor products.

Marvell said the merger would create a 'category leader in AI connectivity'. The company's CEO, Matt Murphy, stated that 'AI infrastructure is undergoing a fundamental architectural shift toward optical connectivity, creating an opportunity that comes along once in a generation'. He added that the companies moving first to help define this transition would 'set the standard for decades to come'.

The all-stock deal came as AI stocks faced a broader pullback. Marvell's shares fell more than 1 per cent before the opening bell and Lumentum's fell almost 3 per cent following the announcement. Nvidia earlier this year purchased a $2 billion stake in Lumentum, according to Bloomberg.

Marvell to acquire Lumentum for $115bn in AI connectivity deal — Image: Financial Times

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How it is being reported

Marvell to buy Lumentum in all-stock deal, a massive bet on AI connectivityThe AI infrastructure deal is expected to close during the first half of 2028.CNBC · 2 Nov, 14:23
Marvell to buy data centre component maker Lumentum in $115bn AI betSilicon Valley companies said all-stock deal would create a ‘leader in AI connectivity’Financial Times · 2 Nov, 14:07
Marvell to acquire Lumentum in $115 billion AI connectivity dealMarvell Technology said megadeal for Lumentum will help the merged company serve the growing market for AI data centers.CBS News · 2 Nov, 14:00
Marvell to buy data centre component maker Lumentum in $115bn AI betSilicon Valley companies said all-stock deal would create a ‘leader in AI connectivity’Financial Times · 2 Nov, 12:38

In this story: Marvell Technology · Lumentum Holdings · Matt Murphy · Nvidia

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