The story so far
written Nov 2What is happening
Marvell Technology agreed to acquire Lumentum for $115 billion on November 2, 2026, to challenge Broadcom in the market for artificial intelligence infrastructure 1. The all-stock transaction combines Marvell’s custom chip designs with Lumentum’s optical components 1. Marvell CEO Matt Murphy will serve as chairman and CEO of the combined company 1.
Lumentum reported $1.26 billion in revenue for the first fiscal quarter of 2027 on November 2, 2026, a 136.5% increase over the previous year 2. Quarterly GAAP net income rose to $360.3 million from $4.2 million a year earlier 2. Lumentum also confirmed it completed a sale of Series A Convertible Preferred Stock to NVIDIA 2. Following the announcement, Lumentum shares dropped 0.6% in premarket trading while Marvell shares held steady 1.
What to watch
Lumentum forecasts revenue between $1.575 billion and $1.625 billion for the second fiscal quarter of 2027 2.
Release of the U.S. Department of Justice antitrust decision on the merger would clarify the regulatory path. Release of the European Commission antitrust decision on the merger would address international competition requirements. Announcements of shareholder approval by both Marvell and Lumentum would move the deal toward completion. A public filing confirming the closing of the transaction would finalize the acquisition.
Read the full brief · how we got here
References · 2
- 1reuters.com — Marvell to buy Lumentum in $115 billion deal in AI data-center bet
- 2stocktitan.net — LITE SEC Filings - Lumentum Holdings Inc. 10-K, 10-Q, 8 …
What would close this
0 of 4 metTimeline
1newest firstWhen we started following: Marvell to acquire Lumentum in $115 billion all-stock deal to expand AI data-center optical connectivity
Marvell Technology announced an agreement on November 2, 2026, to acquire Lumentum for $115 billion in an all-stock transaction 1. The deal includes the assumption of debt and aims to combine Marvell’s custom chip design with Lumentum’s optical components to compete with Broadcom in the AI infrastructure market 1. Marvell CEO Matt Murphy will lead the combined entity as chairman and CEO 1.
Lumentum reported fiscal first-quarter 2027 revenue of $1.26 billion on November 2, 2026, representing a 136.5% year-over-year increase 2. The company’s quarterly GAAP net income reached $360.3 million, up from $4.2 million in the prior year 2. Lumentum also disclosed the completed sale of Series A Convertible Preferred Stock to NVIDIA 2. For the fiscal second quarter of 2027, Lumentum forecasts revenue between $1.575 billion and $1.625 billion 2. Following the merger announcement, Lumentum shares fell 0.6% in premarket trading while Marvell shares remained stable 1.