Marvell plans to acquire Lumentum in a $115 billion all-stock deal

Market Pulse Geopolitical Atlas Corporate Database Shanghai and Shenzhen Stock Markets Data Claw🦞

More Technology Real Estate Auto Consumer Energy Health Environment Livelihood ESG Digital Talk Comparison China Reform Special Reports Obituaries

Data Caixin First Line

Private Classes Conferences Promotion Sports Enthusiast Enterprise Users App Download Help

Chip company Marvell plans to acquire optical module company Lumentum for $115 billion; AI optical interconnect opens vertical integration

2026-11-03 13:11:20 Source: Caixin.com Author: Ge Haoyue Editor in charge: Qu Yunxu

By Caixin's Ge Haoyue (Intern)

November 03, 2026 13:11

Local time June 2, 2026, California, USA, Marvell company. Image: Visual China

Related reports [Caixin Weekly] Latest cover story part two | The most profitable "AI lab" IPO unveiled; HP launches AI learning printer; how is AI progressing in traditional hardware? Hong Kong Monetary Authority launches new project to regulate AI agent-based finance; stabilizing employment | AI "stealing jobs," how will the State Council Office's 18 measures ease this? Zhiyuan's first-half revenue nearly 2 billion yuan; responds to "AI piercing embodied intelligence"

[Caixin.com] Local time November 2, U.S. chipmaker Marvell announced it will acquire optical communications company Lumentum in an all-stock transaction valued at approximately $115 billion (about 818 billion yuan), a premium of 23.9% over the October 28 closing price. After the transaction closes, Lumentum shareholders will hold about 33% of the combined company, with closing expected in the first half of 2028. Affected by the acquisition price and concerns over returns on AI infrastructure investment, Marvell fell about 13% that day, while Lumentum fell about 19%.

The two parties signed the merger agreement two days earlier. Each share held by Lumentum shareholders will be converted at closing into 4.500 shares of Marvell stock, with total consideration for Lumentum of about $115 billion. After closing, existing Marvell shareholders will hold about 67% of the combined company, and Lumentum shareholders about 33%. Marvell Chairman and CEO Matt Murphy will continue to lead the combined company, and three Lumentum directors, including Lumentum CEO Michael Hurlston, will join Marvell's board.

Recommended: enter the Caixin database to check company stock price trends, structural and personnel changes, and other investment information at any time.

The Caixin Robotics Industry Index (RII) has been released; click to learn about industry developments

Editor in charge: Qu Yunxu | Page editor: Li Donghao Image editor: Li Bojing

Previous: T Morning Brief | Anthropic discloses nearly $900 billion in computing power spending commitments; Marvell plans to acquire optical communications company Lumentum for $115 billion; Apple quarterly revenue beats expectations Next: Meituan iterates domestically produced chip training models; models mainly serve the company's main business

Photo gallery | After 14 years in power in Serbia, Vucic admits defeat; supporters of the "student list" celebrate all night Photo gallery | Kim Jong Un visits an unmanned aviation technology exhibition with his wife and daughter; large-caliber rocket artillery fires for the first time in a demonstration Photo gallery | High-speed train collision in Spain has killed 68; Chinese citizens among the injured Photo gallery | Germany's largest-ever youth protests spread to 34 cities; violence reported in many places Photo gallery | "Caixin Society Talk Show" returns with a bang; six cross-industry guests speak humorously On the scene | The lost "lungs of the Earth": the complex game behind Indonesia's forest fires This week in the world | A high-speed train rear-end collision in Spain has killed 69; Lula makes a comeback to win a fourth term as Brazil's president Photo gallery | Turnout of 77.9% hits a 27-year high; Israel's cabinet formation remains deadlocked

Audio-visual recommendations

[Caixin Time] Dialogue with Xiong Youjun: There are no bubble industries, only bubble companies [Special Presentation] Warm years, accompanied by Everbright [Caixin Time] Dialogue with Wei Shangjin: How does the gender structure affect personal choices and economic operation? [Special Presentation] How Singapore's MICE ecosystem keeps an international forum fresh [Caixin Time] Dialogue with Miao Yanliang: As old and new monetary orders alternate, grasp the key decade for RMB internationalization [Special Presentation] The world is speeding up, I am slowing down Miao Yanliang: If the economy and technology are world-class, must the currency also be world-class? The next stage of RMB internationalization: how can offshore markets broaden application scenarios?

Caixin.com's news edition email has been fully upgraded! Carefully compiled by Caixin.com's editor-in-chief, delivered on schedule every workday, every piece a major story, trustworthy and citable.

13:11 Chip company Marvell plans to acquire optical module company Lumentum for $115 billion; AI optical interconnect opens vertical integration

12:53 Telecom fraud gang moves from Cambodia to Madagascar; FBI discloses details

12:18 AI shock, aging, policy constraints: short- and long-term risks to the world economy (Part 2)

12:05 Citi's Yu Xiangrong: Real GDP growth expected at 4.1% in 2027; policy should shift more toward livelihood and consumption

12:00 Smart driving tech companies set their sights on trunk-line logistics; what are the market prospects?

11:25 After the yuan strengthens past 6.65, central bank raises foreign exchange deposit reserve ratio to 6% for the first time in nearly five years

11:17 Can fire academy graduates be directly promoted to officer? Reform transition period triggers personnel disputes

11:03 The Lancet report: Heatwave-related deaths in China approached 20,000 in 2025

11:03 Wang Zhe: China's new economy index rises to a new high in October, mainly due to increased technology input

10:54 Charged with three crimes, former Central South University vice president Guo Xueyi will stand trial in Anhui together with the former president

Content page end Bottom begin

The intellectual property rights of the content published on Caixin.com are exclusively owned or held by Caixin Media and/or relevant rights holders. Without permission, any use including reproduction, excerpting, copying, and mirroring is prohibited.

Radio and television program production and operation license: Jing No. 01015 | Publication business license: No. Zhi 100013

finder end Site-wide paid statistics code Global site tag (gtag.js) - Google Analytics