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11.02.26
Firm Advises Marvell on $115 Billion Acquisition of Lumentum
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.
Client Highlights
10.28.26
Firm Advises hyperexponential on Acquisition by Guidewire for up to $2.1 Billion
On October 27, 2026, Guidewire, a cloud platform for P&C insurers, announced that it entered into a definitive agreement to acquire hyperexponential, a London-based agentic platform provider of AI-native underwriting and pricing software for commercial lines P&C insurers, for a base purchase price of $1.7 billion in cash, subject to adjustments. The agreement also includes up to an additional $400 million in contingent consideration based on achievement of specified recurring revenue targets, bringing the total deal value to up to $2.1 billion and marking the transaction as the largest-ever M&A exit of a privately held, venture-backed UK technology company. hyperexponential is an existing Guidewire PartnerConnect Technology Alliance Partner and brings established trust and scale in underwriting, having powered underwriting decisions across more than $75 billion in annual commercial P&C premium for leading global insurers, reinsurers, and managing general agents. Wilson Sonsini Goodrich & Rosati advised hyperexponential on the transaction.
Client Advisories
10.19.26
Most-Favored-Nation Drug Pricing: Implications for Cross-Border Life Sciences Deals
On May 12, 2025, President Trump signed Executive Order 14297, “Delivering Most-Favored-Nation Prescription Drug Pricing to American Patients” (the Executive Order).1 The Executive Order describes a “purposeful scheme” in which drug manufacturers discount prices abroad to preserve market access and recoup the difference through higher prices in the U.S. It aims to align U.S. drug prices with those paid in other comparable nations.
Client Highlights
6.30.26
Wilson Sonsini Advises Cognite, Major Shareholders on $3.1 Billion Sale to Schneider Electric
On June 30, 2026, Aker ASA (Aker) and the other shareholders of Cognite announced that they have entered into an agreement to sell 100 percent of the shares in Cognite Holding B.V. (Cognite) to Schneider Electric based on an enterprise value of US$3.1 billion. Wilson Sonsini Goodrich & Rosati’s cross-border tech M&A team advised Cognite and its major shareholders, including Aker, TCV, and Accel, on the transaction.
Client Highlights
6.01.26
Wilson Sonsini Advises Credo on Regulatory Matters Related to Acquisition of DustPhotonics
On May 28, 2026, Credo Technology Group Holding Ltd (Credo), an innovator in providing connectivity at scale through fast, reliable, and energy-efficient system solutions, announced that it has completed its acquisition of DustPhotonics in a transaction valued up to $1.3 billion. DustPhotonics brings industry-leading silicon photonics photonic integrated circuit (SiPho PIC) technology for optical connectivity, deepening Credo’s optical interconnect portfolio across 800G, 1.6T, and 3.2T near-packaged optics (NPO) and co-packaged optics (CPO). Wilson Sonsini Goodrich & Rosati advised Credo on regulatory matters related to the transaction.
Alerts
5.18.26
The “Friendly Buyer” Fallacy: Why U.S. Ownership Is No Longer a Regulatory Safe Bet
Over the past decade, the number of countries with foreign direct investment (FDI) screening regimes has more than doubled. What was once a niche, rarely-used regulatory tool has become a standard feature of global deal-making and a routine consideration in cross-border M&A, including U.S. to U.S. transactions that involve the indirect acquisition of foreign subsidiaries. As jurisdictions continue to strengthen their FDI screening regimes, parties are seeing more U.S.-led deals encounter longer and more intrusive reviews and increasingly complex conditions as a condition of approval.
Client Highlights
5.05.26
Wilson Sonsini Advises Lattice Semiconductor on $1.65 Billion Acquisition of AMI
On May 4, 2026, Lattice Semiconductor announced it has entered into a definitive agreement with THL Partners to acquire AMI, a leader in platform firmware and infrastructure manageability for cloud and AI. The planned acquisition advances Lattice Semiconductor’s strategy to expand its position in server, AI, and cloud applications spanning hardware, security, manageability, and control. Wilson Sonsini Goodrich & Rosati is advising Lattice Semiconductor on the transaction.
Client Highlights
4.09.26
Firm Advises Marvell Technology on Strategic Partnership and $2 Billion Investment from NVIDIA
On March 31, 2026, NVIDIA announced it has invested $2 billion in Marvell Technology as part of a strategic partnership to connect Marvell to the NVIDIA AI factory and AI-RAN ecosystem through NVIDIA NVLink Fusion™. This partnership offers customers building on NVIDIA architectures greater choice and flexibility in developing next-generation infrastructure. The companies will also collaborate on silicon photonics technology. Wilson Sonsini Goodrich & Rosati advised Marvell on the transaction.
Alerts
4.06.26
FTC Announcement of Healthcare Task Force Coincides with Joint DOJ/FTC Appearance at ONC Annual Meeting
Two recent developments suggest that enforcers are poised to grapple with antitrust concerns in health tech, signaling an escalation of scrutiny into Information Blocking1 tactics that have persisted despite U.S. Department of Health and Human Services (HHS) rules and regulations designed to curtail such practices. Stakeholders and industry participants should be prepared for potential outreach.
Client Highlights
3.03.26
Wilson Sonsini Advises Versori on Acquisition by Avalara
On February 27, 2026, Avalara, the leading provider of cloud-based tax compliance automation software, announced that it acquired Versori Group, an integration platform company specializing in automated connector development powered by agentic AI. Wilson Sonsini Goodrich & Rosati advised Versori on the transaction.
Alerts
2.10.26
“Landmark” Settlement in PBM Case Poised to Broadly Reshape Prescription Drug Market
On February 4, 2026, the Federal Trade Commission (FTC) announced a settlement and consent order in a long-running administrative action against pharmacy benefit managers (PBMs) Express Scripts, OptumRx, and Caremark Rx. The FTC alleged that these three PBMs, which have a collective U.S. market share of approximately 80 percent, deployed anticompetitive and unfair rebating practices that artificially inflated the list price of insulin drugs by systematically preferring higher-priced drugs at the exclusion of lower cost products. The settlement resolves the claims as to Express Scripts and its family of companies.
News Articles
1.16.26
Firm Attorneys Named to 2026 Lawdragon 500 Leading Global Antitrust & Competition Lawyers
On January 16, 2026, 15 Wilson Sonsini attorneys were selected for inclusion in Lawdragon’s 500 Leading Antitrust & Global Competition Lawyers guide. The lawyers featured are recognized for navigating global antitrust regulatory regimes, representing clients in massive competition contests, and navigating frameworks of countries and markets globally.