Marvell in advanced talks to buy Lumentum, report says

Bloomberg reported that Marvell is in advanced talks to buy Lumentum, citing people familiar with the matter.[1] Those sources asked not to be identified because the discussions are private.[1] The report says the transaction could be announced as soon as next week, but that timing is not a confirmation that an agreement has been reached.[1] Bloomberg said the exact terms could not immediately be learned.[1] For now, the reported structure is an expected all-stock transaction.[1]

Bloomberg characterized the potential acquisition as a megadeal that could give Marvell greater control of technology used in digital infrastructure.[1] It put Lumentum’s market value at about $85 billion and Marvell’s at around $196 billion.[1] The report also described Lumentum as backed by Nvidia.[1] The cited figures give a sense of the companies’ scale, but they do not disclose an offer price, exchange ratio, or other transaction terms.[1] Those details would matter to shareholders assessing the expected all-stock structure.[1]

Separately, Marvell showed a live demonstration in which its optical connectivity solutions interoperated with Lumentum’s optical circuit switching platform.[2] Marvell says optical circuit switching creates direct optical paths between endpoints.[2] It says the combined demo system’s optical paths can lower latency and power consumption while improving network efficiency.[2] Marvell said it would show the integrated, rack-level system at its OFC 2026 booth, number 1600, during the March 17–19 event in Los Angeles.[2] The demonstration is evidence of interoperability in that system, not confirmation of an acquisition.[2][1]

Lumentum reported fiscal fourth-quarter 2026 revenue of $1.01 billion and fiscal 2026 revenue of $3.01 billion.[3] The company said data-center architects are turning to optical links as a primary connectivity method as AI workloads increase in speed and bandwidth.[3] That backdrop helps explain the relevance of data-center optics to the reported talks, but the evidence does not establish that demand trends caused the discussions or indicate how a combined company would operate.[1][3] The transaction’s terms and outcome remain unknown in the report.[1]