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Marvell's $115B Lumentum acquisition is one of the biggest tech deals ever and 2026's top M&A deal; Lumentum is up 128% YTD, giving it a ~$76B market cap (Bloomberg)

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In short

Marvell Technology Inc. entered into a definitive agreement to purchase Lumentum Holdings Inc. at an enterprise value of $115 billion. The transaction establishes itself as the foremost mergers and acquisitions deal of 2026 and one of the largest in tech industry history. Lumentum entered the transaction following a 128% year-to-date share surge that elevated its market value to roughly $76 billion.

Key points

  • The multi-billion-dollar enterprise valuation places this strategic buyout among the larg…: The multi-billion-dollar enterprise valuation places this strategic buyout among the largest technology transactions ever recorded.
  • Lumentum's dramatic year-to-date share appreciation provided substantial market leverage…: Lumentum's dramatic year-to-date share appreciation provided substantial market leverage heading directly into the finalized buyout agreement.
  • The transaction delivers critical data center optics capabilities to Marvell through the…: The transaction delivers critical data center optics capabilities to Marvell through the largest corporate consolidation of 2026.

Sources checked by our analysis pipeline: 1

Bloomberg : Marvell's $115B Lumentum acquisition is one of the biggest tech deals ever and 2026's top M&A deal; Lumentum is up 128% YTD, giving it a ~$76B market cap   —  Marvell Technology Inc. has reached a deal to buy data center optics maker Lumentum Holdings Inc. at an enterprise value $115 billion …

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