Marvell and Lumentum to Combine, Creating a Category Leader in AI Connectivity
Business Wire•02/11/2026•07:05 ET
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Key Highlights
- ➤$115B implied enterprise value for Lumentum, 23.9% premium to unaffected price
- ➤Lumentum holders receive 4.500 Marvell shares per Lumentum share
- ➤Combined company targets $550B total addressable market
- ➤More than $1B annual run-rate cost synergies projected
- ➤Deal expected accretive to Marvell non-GAAP EPS in year one post-close
Expert Statements
Matt Murphy, Chairman and CEO of Marvell
“AI infrastructure is undergoing a fundamental architectural shift toward optical connectivity, creating an opportunity that comes along once in a generation”
Matt Murphy, Chairman and CEO of Marvell
“The companies that move first and help define this transition will set the standard for decades to come.”
Matt Murphy, Chairman and CEO of Marvell
“By bringing together two leaders with highly complementary technologies, exceptional talent and specialized manufacturing capabilities, we intend to help shape the next era of AI connectivity and create exceptional stockholder value.”
Michael Hurlston, President and CEO of Lumentum
“Joining Marvell creates a company uniquely positioned to capitalize on a market opportunity of $550 billion and generate significant, sustainable stockholder value.”
Michael Hurlston, President and CEO of Lumentum
“Surging AI data traffic requires rapid hardware innovation, and this combination enhances our ability to deliver next-generation solutions at scale.”
Michael Hurlston, President and CEO of Lumentum
“Together with Marvell, we will meet our customers' complete interconnect needs, spanning scale-across and scale-out today to scale-up and scale-in domains tomorrow.”
Michael Hurlston, President and CEO of Lumentum
“By offering extreme co-design around our customers' demanding requirements, we will help them achieve faster time to market, accelerated innovation cycles and category-defining performance.”
Marvell and Lumentum to Combine, Creating a Category Leader in AI Connectivity
* Combines two of the fastest-growing enablers of AI, bringing together complementary electrical and optical technologies to address increasingly complex connectivity requirements across next-generation AI infrastructure
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