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About $115bn enterprise value, about $1,132 per Lumentum share

Marvell agrees to buy Lumentum for about $115bn in an all stock bet on AI connectivity

Hussain Jeddy · 3 November 2026

On 1 November 2026, Marvell Technology signed an Agreement and Plan of Merger to buy Lumentum Holdings, and the two companies announced it the next morning. Lumentum shareholders will not receive any cash. Instead, each Lumentum share will be swapped for 4.500 new Marvell shares. Based on both companies' share prices on 28 October 2026, the last trading day before rumours of the deal began, that worked out at about $1,132 per Lumentum share, a premium of about 23.9%, and an enterprise value of about $115bn.

Target
Lumentum Holdings Inc. (Nasdaq: LITE)
Buyer
Marvell Technology, Inc. (Nasdaq: MRVL)
Deal value
About $115bn (EV)
Price/share
$1,132 per Lumentum share
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