Marvell to acquire Lumentum for $115 billion in all-stock semiconductor deal
Marvell Technology $MRVL announced Monday an all-stock acquisition of Lumentum Holdings $LITE for approximately $115 billion, creating what the companies describe as the "category leader in AI connectivity." Lumentum shares surged 6% and Coherent $COHR climbed 2% as semiconductor investors reassess the sector's AI-driven consolidation narrative.
CEO Matt Murphy stated the merger builds critical infrastructure for artificial intelligence deployment. The transaction marks a major bet on AI-driven semiconductor demand as connectivity becomes central to data center architecture.