Lumentum Holdings (LITE) shares rose as much as 17% in after-hours trading on October 28, after a report said Marvell Technology (MRVL) was in advanced talks to acquire the company. People familiar with the matter said a deal could be announced as soon as next week, but no final agreement has been reached.
Neither company has officially commented on the report. The potential acquisition, described as an AI-related megadeal, would let Marvell, a semiconductor maker, integrate Lumentum’s high-speed optical components. Marvell is already a Lumentum customer, and a deal could simplify Marvell’s supply chain for data center and AI infrastructure.
Marvell shares fell more than 8% after the report.