Marvell CEO expects combined company with Lumentum to rank among top five AI infrastructure semiconductor companies
MRVL•Marvell and Lumentum executives said they expect the combined company to become one of the five largest AI infrastructure semiconductor companies. Lumentum’s CEO said a second major NPO and CPO win is expected to generate over $5 billion in revenue; Marvell expects more than $1 billion in annualized synergies and non-GAAP EPS accretion starting in the first year after closing.
1. Executives outline expectations
Marvell Technology and Lumentum Holdings executives outlined expected benefits of their planned combination. Marvell’s CEO expects the combined company to become one of the top five AI infrastructure semiconductor companies.
2. Revenue and synergies
Lumentum’s CEO called the company’s second major NPO and CPO win a “massive milestone” and said it is expected to generate over $5 billion in revenue. Marvell’s CFO expects the transaction to accelerate revenue growth, improve non-GAAP gross and operating margins, and deliver more than $1 billion in run-rate synergies, primarily from cost of goods sold. The CFO also expects the combination to be accretive to non-GAAP earnings per share starting in the first year after closing.
