Marvell-Lumentum Deal Brings Chips and Optical Technology Under One Roof – Merger Arbitrage Mondays

Lumentum Holdings Inc. (LITE): $538.59

Market Cap: $48.79 B

Deal Value: $115 B

When one of the darlings of the dot-com bubble, JDS Uniphase, decided to split into two companies in 2015, Lumentum Holdings began trading as an independent company that was valued at around $1 billion. A decade later, the company is at the center of one of the biggest technology deals in history.

Custom chip designer Marvell Technology Inc. (MRVL) entered into a merger agreement on November 2, 2026, to acquire optical components maker Lumentum in a deal valued at $115 billion. This is the second largest acquisition announced this year following Dominion’s acquisition by NextEra.

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