The companies’ agreement for Marvell to acquire Lumentum in an all-stock deal assigns the optical maker about $115 billion in implied enterprise value, joining businesses that serve data-center networks.
The exchange terms call for 4.5 Marvell shares per Lumentum share.
The companies project yearly cost savings of more than $1 billion for the combined business.
Shareholder and regulatory approvals are still required for the transaction to proceed.
Marvell makes chips and switching systems for moving data, while Lumentum produces optical components for data-center networks.
On a fully diluted basis, Marvell shareholders are projected to hold about 67% of the combined company and Lumentum shareholders 33%. EconoTimes previously outlined the broader merger terms.
The companies are targeting a close during the first half of 2028.
