Marvell Technology has agreed to acquire optical components manufacturer Lumentum in a transaction valued at approximately $115 bn, including debt. The deal is one of the largest technology acquisitions of 2026 and represents a major expansion of Marvell’s position in AI infrastructure.

The acquisition combines Marvell’s custom AI processors, networking chips and semiconductor design capabilities with Lumentum’s lasers, photonics and optical connectivity products.

• Marvell is acquiring Lumentum in a $115 bn all-stock transaction, creating a major competitor to Broadcom in AI networking and optical connectivity. The companies expect the deal to close in H1 2028.
• MRVL fell 6.8% to $183.12 and LITE dropped 10.7% to…