The Next WebCristian Dina
Marvell to buy Nvidia-backed Lumentum in a $115bn all-stock deal
Lumentum shares fell about 10% and Marvell shares about 5% in morning trading in New York on Monday. Because Lumentum shareholders are paid in Marvell stock at a fixed ratio, the value of the offer moves with Marvell’s share price.
Marvell’s annual revenue more than doubled, from $3bn in fiscal 2021 to $8.2bn in fiscal 2026, and its purchase of Celestial AI, completed in February, was worth $3.5bn.
Marvell Technology has agreed to buy Lumentum in an all-stock deal. Lumentum makes lasers and other optical parts for AI data centres.
The two companies valued Lumentum at $115bn, including debt, when they announced the deal on Monday.
Lumentum shareholders will get 4.5 Marvell shares for each share they own, the companies said in a joint statement. That works out at about $1,132 per Lumentum share.
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