Marvell to Acquire Lumentum in Stock Deal Targeting 2028 Close

Marvell Technology will acquire Lumentum in a stock-for-stock deal expected to close in the first half of 2028, joining two companies focused on AI data-center connectivity.

The planned combination's stated aim is to build an industry leader in artificial intelligence connectivity. The transaction uses an exchange of shares, making Marvell the acquirer and Lumentum the company being acquired.

That structure means the acquisition is based on equity consideration, rather than a cash-only purchase. The deal remains pending: its announced completion window is the first six months of 2028, not an immediate close.

The companies' stated strategic focus is AI connectivity, a field tied here to data centers. The transaction brings the two firms together under a single planned combination, with the stock exchange and 2028 timetable defining the announced structure. Marvell's acquisition of Lumentum is the central corporate development, with the expected close more than a year away on the current timetable.