Marvell to buy Lumentum in $115-billion deal to expand its AI business
Marvell Technology Group Ltd. headquarters in Santa Clara, California.
By Ryan Gould, Michelle F. Davis, and David Carnevali
Nov. 2, 2026 3:29 PM PT
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Marvell Technology Inc. has agreed to acquire Lumentum Holdings Inc. in a $115 billion deal, marking one of the largest technology deals in history. This move aims to capitalize on the surge in data center spending.
Marvell shareholders will receive 67% of the combined entity, valuing the equity at approximately $102.6 billion. The merger is anticipated to be finalized in the first half of 2028, as confirmed by both companies.
This deal represents Marvell’s most ambitious attempt yet to establish itself as a leading player in the artificial intelligence (AI) industry. Currently, they design chips used in growing AI infrastructure. With Lumentum, Marvell will gain access to components that utilize light to transmit information within data centers, further enhancing their AI capabilities.