On November 2, 2026, Marvell Technology, a leader in data infrastructure semiconductor solutions, announced that they have entered into a definitive agreement to acquire Lumentum, a global leader in optical and photonic technologies that power the networks and infrastructure behind artificial intelligence, cloud computing, and next-generation communications, in an all-stock transaction. Under the terms of the agreement, Lumentum stockholders will receive a fixed exchange ratio of 4.500 shares of Marvell common stock for each share of Lumentum common stock they own. The transaction has an implied enterprise value of $115 billion for Lumentum, representing approximately $1,132 per share of Lumentum common stock and a premium of approximately 23.9 percent based on each company’s unaffected closing share price as of October 28, 2026. Wilson Sonsini Goodrich & Rosati is advising Marvell on the transaction.
The transaction is expected to close in the first half of calendar year 2028, subject to approval by the companies’ stockholders, receipt of regulatory approvals, and other customary closing conditions. After closing, Marvell stockholders will own approximately 67 percent of the combined company on a fully diluted basis, and Lumentum stockholders will own approximately 33 percent.
The Wilson Sonsini team that is advising Marvell on the transaction includes:
Mergers and Aquisitions
Robert Ishii
Ethan Lutske
Remi Korenblit
Ross Tanaka
Kristen Kercher
Cassie Wetzel
Michael Anthony
Hayden Stephens
Drew Downing
Corporate
Allison Spinner
Shannon Delahaye
Olivia Cusimano
Antitrust and Competition
Jamillia Ferris
Brendan Coffman
Deirdre Carroll
Kimberley Biagioli
John Sack
Kia Azadbakht
Employee Benefits and Compensation
Brandon Gantus
Matthew Norgard
Kristen Stidham
Seunghan (Han) Bae
Zaid Umar
Delaware
Amy Simmerman
Ryan Greecher
Sarah Hand
Apoorva Gokare
National Security
Stephen Heifetz
Joshua Gruenspecht
Mike Casey
Jocelyn Chow
Seth Cowell
Jack Davies
Grace Chow
Waqas Shahid
Georgia Cooper-Dervan
Sophia Galleher
Kevin Chan
Trade Compliance
Anne Seymour
Nate Yang
Government Investigations
Tarek Helou
Technology Transactions
Christopher Paniewski
Allegra Sachs
Isabel Annino
Brittany Von Rueden
Graham Hendrick
Erica Hur
Anna Weber
Jennifer Cheng
Bryce McKay
Erin McGuinness
Stephanie Stark
Tax
Jonathan Zhu
Derek Wallace
Myra Sutanto Shen
Joy Cheng
Rob Sherrill
Corporate Finance
Erik Franks
Katie Barnes
Roshanne Arathoon
Employment Law
Matt Gorman
Quinn Christie
Rachel Witt
Data, Privacy, and Cybersecurity
Matthew Staples
Michael O’Brien
Dan Shin
Kim Dong
Real Estate and Environmental
Sean Wilkinson
Matt Swanson
Alexander Fischler
Moncarol Wang
Paige Baker
For more information, please see Marvell and Lumentum’s news release. Additional information can be found on The Wall Street Journal and Reuters.
