The Daily Buyout

Monday, November 2, 2026

The Daily Buyout

45 deals · $160B announced

Chip consolidation just got a nine-figure-sounding headline with eleven figures behind it: Marvell is buying Lumentum in a $115 billion all-stock deal. Private equity isn't sitting still either, with CD&R and GTCR reportedly lining up a roughly $40 billion run at Global Payments. Below that, a busy day of closings, carve-outs and cross-border tuck-ins.

Top deal of the day

Marvell to buy Lumentum in $115B all-stock AI connectivity deal

$115BStrategic acquisitionTechnology

Marvell Technology agreed to acquire Lumentum in an all-stock deal valuing the optical company at an implied enterprise value of about $115 billion. Lumentum holders get a fixed 4.5 Marvell shares per share, roughly $883.80 each, a modest 5.13% premium. Marvell holders will own about 67% of the combined company, Lumentum holders about 33%. Bloomberg had reported advanced talks the week before.

Why it matters: The companies pitch the combination as a category leader in AI connectivity, one of the largest semiconductor tie-ups as data-center networking demand surges.

Read at Business WireFree
Good deal?

Get this in your inbox every weekday

The day's biggest deals in five minutes. Free, with no paywalled links.

Free · Unsubscribe anytime

3
$420MStrategic acquisitionTechnology

Affle to acquire ad-tech firm Perion for $420M in cash

India's Affle 3i, through its Israel-based subsidiary Affle 3iL, signed a definitive agreement to buy Nasdaq- and TASE-listed Perion Network at $11.70 per share in cash, an implied equity value of about $420 million. Perion is a Tel Aviv-based digital advertising technology company with a strong North American footprint.

Read at PR NewswireFree
6
$630M revenueDivestiture / carve-outIndustrials & ManufacturingCompleted

Hexagon completes Waygate Technologies purchase from Baker Hughes

Sweden's Hexagon closed its previously announced acquisition of Waygate Technologies, a non-destructive testing specialist, from Baker Hughes. Waygate has about 1,500 employees and generated roughly $630 million in fiscal 2025 revenue; the deal dilutes Hexagon's group margin by about 150 basis points pro forma.

Read at PR NewswireFree
7
$375MStrategic acquisitionTechnology

Salesforce reportedly buys defense AI startup Rune for $375M

Salesforce agreed to acquire Rune Technologies, which builds AI software for military logistics and supply forecasting, for $375 million in cash and stock, Resilience Media reported. Rune, founded in 2024, was last valued at $127 million and is backed by Andreessen Horowitz, Point72 Ventures and IQT.

Read at TechCrunchFree

Other deals this day37 more

Get tomorrow's edition in your inbox

Free · Unsubscribe anytime