Marvell Technology has agreed to acquire Lumentum Holdings, combining the semiconductor company with a supplier of optical and photonic technology. Under the announced structure, Lumentum would become a wholly owned subsidiary of Marvell. Marvell also said it expects to issue shares of its common stock in connection with the transaction.
The announcement does not state the deal’s value, the number of Marvell shares to be issued, or an expected closing date.
Key details
- How the deal is structured: A Marvell subsidiary will first merge into Lumentum, leaving Lumentum as a wholly owned Marvell subsidiary. A second merger will follow, with another Marvell subsidiary remaining in place. The two-step structure does not change the stated outcome: Marvell would own Lumentum outright.
- Stockholder process: Marvell plans to file materials that will include a joint proxy statement for Marvell and Lumentum stockholders and a prospectus covering Marvell shares issued in the transaction. Those materials will provide further information for stockholders considering the deal.
- Terms not included here: The announcement text does not give a purchase price, share-exchange ratio, detailed financing terms or a timetable for completion.
- Marvell revenue: The joint announcement also referred to preliminary revenue for Marvell’s third quarter of fiscal 2027, but no revenue figure is included in the materials provided.
- Investor call: The companies scheduled a joint call for 8 a.m. Eastern time on Nov. 2, 2026, to discuss the transaction.
Plain-English implications
If completed, the transaction would bring Lumentum under Marvell’s full ownership and add Marvell shares to the consideration issued in the deal. The detailed economics and the steps stockholders will be asked to approve are not specified in the announcement text.