Key facts
- Marvell Technology agreed to acquire Lumentum Holdings for $115 billion including debt, per the report.
- The report described the transaction as Marvell's biggest deal to date.
- The report said the purchase would strengthen Marvell's position against larger rival Broadcom.
- The report tied the deal to rising spending by technology companies on AI infrastructure.
Marvell Technology agreed to buy Lumentum Holdings in a deal valued at $115 billion including debt, Reuters reported on November 2, describing it as the chipmaker's largest acquisition to date. Marvell and Lumentum did not issue statements in the report carried in the body.
The report framed the agreement as widening Marvell's challenge to larger rival Broadcom as technology companies increase spending on AI infrastructure. It did not give the split between cash and stock, the financing arrangements, expected closing terms or any revenue figures for Lumentum.
The body listed the transaction as the first item in a summary of the largest US technology deals of the past decade. That list was not carried in the source material, so no other transaction, value or date from it appears in this record.