Marvell Reportedly in Talks to Acquire Lumentum, Which Rises About 17% After Hours

October 29 — Bloomberg reported, citing people familiar with the matter, that semiconductor company Marvell Technology is in advanced talks to acquire data center optical communications equipment maker Lumentum, with a deal possibly announced as soon as next week. The two sides have not yet reached a final agreement, and details and timing could still change. Lumentum's current market value is about $83 billion, while Marvell's is about $221 billion. After the news emerged, Marvell fell about 8% in US after-hours trading, while Lumentum rose about 17%. Earlier this year, Nvidia invested $2 billion in Lumentum.