Marvell is buying optical-components maker Lumentum in an all-stock deal valued at $115 billion, one of the largest AI infrastructure acquisitions yet. Lumentum shareholders will receive 4.5 Marvell shares for each share they own, giving them about 33% of the combined company. The deal follows Nvidia’s $2 billion investment in each company earlier this year. Marvell is betting that AI data centers will need far more optical connections to move data between increasingly powerful systems. The companies claim the combined business could address a $550 billion market and generate more than $1 billion in annual cost savings. The deal is expected to close in the first half of 2028, subject to shareholder and regulatory approval.
https://www.sec.gov/Archives/edgar/data/1835632/000119312526442714/d81187dex991.htm
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