
$MRVL just announced a massive $115B all stock deal to acquire $LITE Terms: • 4.5 $MRVL shares for every $LITE share • $1,132 per LITE share • 23.9% premium Ownership post deal: Marvell shareholders -> 67% Lumentum shareholders -> 33% Key highlights: • Combined TAM expands to $550B • >$1B annual run rate synergies • Accretive to non-GAAP EPS in year 1 • Full stack AI connectivity (chips + lasers + optics) Matt Murphy stays CEO. Close expected H1 2028. This is Marvell going all-in on the optical shift for AI data centers.