Marvell to Acquire Lumentum in Major Deal
Reuters reports that Marvell will acquire Lumentum. Deal terms were not provided.
Story updates
01:22:06 PM UTC
SquawkNews
By Anissa Gardizy and Robbie WhelanArtificial-intelligence chip maker Marvell agreed to buy data-center-optics maker Lumentum in an all-stock deal worth roughly $80 billion.The deal will combine two of the fastest-growing enablers of AI.Marvell designs custom AI chips and other technology that conn…
01:30:04 PM UTC
SquawkNews
Lumentum shareholders will receive a fixed exchange ratio of 4.500 shares of Marvell common stock for each share of their shares. Once the deal closes, current Marvell shareholders will own around 67% of the combined company on a fully diluted basis, while Lumentum shareholders will own 33%.The com…
01:37:59 PM UTC
SquawkNews
Marvell narrows its F3Q revenue outlook. The company says it now expects revenue of $3.15 billion plus of minus 2%. It had previously guided for F3Q revenue of $3.15 billion, plus or minus 5%. The new outlook comes as Marvell agrees to buy data-center-optics maker Lumentum in an all-stock deal wort…