Marvell rebounds nearly 4% in pre-market trading; combined addressable market with Lumentum could reach $550 billion

Odaily reports: According to MSX.COM data, Marvell Technology (MRVL.O) dipped as much as 2.3% in pre-market trading before rallying again and is now up nearly 4%. Reports say Marvell Technology has agreed to acquire Lumentum for $115 billion.

Marvell stated that the transaction will expand the combined company's addressable market to $550 billion and strengthen its competitiveness in AI infrastructure connectivity. The company expects the combined entity to achieve more than $1 billion in annual cost synergies, improve long-term revenue growth, non-GAAP gross margin, and operating margin performance, and expects the deal to be accretive to Marvell's non-GAAP earnings per share in the first full year after closing.