[News] Marvell Eyes Lumentum Acquisition in What Could Be One of the 10 Largest Tech and Telecom Deals Ever

What happened

Marvell is reportedly considering acquiring Lumentum to expand its product portfolio. Lumentum produces optical communication lasers and optical transceiver modules and currently has a market capitalization of approximately US$83 billion, compared with Marvell's US$221 billion; Lumentum has also attracted a US$2 billion investment from NVIDIA. A potential acquisition would further broaden Marvell's product portfolio, fill gaps in its optical component offerings, and strengthen its ability to compete with Broadcom. Bernstein analysts cautioned that the potential deal's size could raise concerns over financing and integration, noting Marvell may be unable to fund it entirely with cash; as of its latest quarter Marvell held approximately US$3.92 billion in cash and cash equivalents. Background: earlier this year Marvell acquired photonics company Celestial AI, gaining access to its Optical Multi-Chip Interconnect Bridge (OMIB) technology, and reached a chip agreement with Google granting Google the right to purchase up to US$12.2 billion worth of Marvell shares. The deal remains at a reported, considering stage and is not confirmed as agreed or completed.

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Source and time

Source: TrendForce · 10/28/2026 · View original source