Marvell to Acquire Lumentum in $115 B All‑Stock Deal

By UnbarNews StaffPublished 2 Nov 2026, 19:04 UTC· 1 min read

Marvell announced a $115 billion enterprise‑value acquisition of optical‑chip maker Lumentum, with Nvidia backing both firms.

Marvell to Acquire Lumentum in $115 B All‑Stock Deal — Photo: TechCrunch

Key points

Custom chip designer Marvell has signed a deal to acquire optical chip and networking equipment maker Lumentum in an all‑stock deal with an enterprise value of $115 billion (including debt) and an equity value of about $80 billion.
Marvell will provide 4.5 shares of its common stock for each share of Lumentum.
In March, as part of a multi‑year agreement to purchase Lumentum’s advanced laser components, the GPU giant invested $2 billion to support Lumentum’s R&D efforts and fab expansion.
Later that same month, Marvell announced that Nvidia invested $2 billion in an effort to beef up Marvell’s optical networking and chips portfolio.
The transaction is expected to close in the first half of calendar year 2028, should both companies’ shareholders, and regulators, agree.

Marvell said it will buy Lumentum in an all‑stock transaction valued at $115 billion enterprise, with the deal slated to close by mid‑2028 pending approvals, TechCrunch reported.

How much is the Marvell‑Lumentum deal worth?

The acquisition carries an enterprise value of $115 billion, including debt, and an equity value of about $80 billion, according to TechCrunch.

What are the terms of the stock exchange?

Marvell will issue 4.5 of its common shares for each Lumentum share, per TechCrunch.

Why is Nvidia a common investor in both companies?

In March, Nvidia invested $2 billion in Lumentum to support its laser‑component R&D and fab expansion, and later that month pledged another $2 billion to Marvell to strengthen its optical networking and chip portfolio, TechCrunch noted.