Marvell Technology Announces $115 Billion Merger to Buy Lumentum

Marvell Technology announced a $115 billion stock swap agreement on Monday to acquire rival chipmaker Lumentum Holdings including debt.

The transaction ranks as the largest ever by value between publicly held technology companies, driven by the expanding infrastructure demand for artificial intelligence.

Analysts predict the merger faces a 12 to 18-month antitrust review, with Marvell expecting the transaction to close in the first half of 2028.