Exits

Marvell Buys Lumentum for $115 Billion, Plus 9 More M&A Deals

Jakob Steinschaden06. November 2026, 19:04

Marvell has agreed to acquire Lumentum, which makes the lasers and optical components that move data between AI chips, in an all-stock deal with an enterprise value of about $115 billion, one of the largest transactions in tech history. Lumentum shareholders will receive 4.5 Marvell shares for each share they own, leaving them with about a third of the combined company. The offer values Lumentum at roughly $1,132 per share, a 23.9% premium to its unaffected close.

The deal brings together two Nvidia suppliers, each of which received a $2 billion Nvidia investment this year, and positions Marvell against Broadcom in AI data center connectivity. Marvell expects more than $1 billion in annual cost savings. Both stocks fell sharply on the news, and closing is expected in the first half of 2028.

Salesforce to Acquire Cresta in Deal Reportedly Valued at $2.7 Billion

Salesforce has agreed to acquire Cresta, a contact center AI company that builds voice agents for customer service, in a deal reportedly valued at about $2.7 billion. Salesforce plans to pair Cresta’s voice agents with Agentforce and Service Cloud to extend its digital support to phone calls.

Cresta was founded in 2017 out of Stanford’s AI Lab and is backed by Andreessen Horowitz, Sequoia and Greylock. The price works out to about 1.7x its last disclosed valuation of $1.6 billion. It is Salesforce’s latest customer experience deal this year, following Fin (about $3.6 billion) and Braze (about $5.66 billion). Closing is expected in Salesforce’s fiscal Q1 2028.

CrowdStrike to Acquire Fiddler and Dreadnode for AI Agent Security

CrowdStrike has agreed to acquire two AI security startups: Fiddler AI, which monitors and explains what AI agents do in production, and Dreadnode, which tests AI models, applications and agents against more than 100 attack strategies before deployment. Both will be built into the Falcon platform, covering the agent lifecycle from pre-deployment testing to runtime monitoring.

The Wall Street Journal reported the deals at a combined $495 million, about $400 million for Fiddler and $95 million for Dreadnode, mostly in cash. That would value Fiddler at roughly 4x the $100 million it had raised in total. CrowdStrike did not disclose terms and expects both deals to close in the fourth quarter of its fiscal 2027.

Dropbox Buys Tigris Data for $350 Million to Build AI Infrastructure

Dropbox has agreed to acquire Tigris Data, a globally distributed object storage platform built for AI workloads, for about $350 million in cash. Founded by former Uber engineers, Tigris lets developers store and access data across clouds without being tied to a single provider.

Alongside the deal, Dropbox launched DBX Agent Cloud, a new storage and data infrastructure business for companies building AI applications and agents, starting with S3-compatible object storage. The price is about 14x the $25 million Series A Tigris raised in October 2025. The acquisition is expected to close in the fourth quarter of 2026.

Bilt Buys Sports Tech Firm Lava for $300 Million

Bilt, the rent rewards and neighborhood commerce platform, has agreed to acquire Lava, which runs real-time loyalty, membership and customer experience technology for sports and entertainment organizations, in a deal valued at $300 million. Lava works with 56 professional franchises, including the Detroit Lions and Denver Nuggets, and was co-founded by Sacramento Kings owner Vivek Ranadivé.

Bilt plans to combine its AI agents with Lava’s real-time engagement technology to connect sports fandom with its network of about 7 million members and 50,000 merchants. The deal follows Bilt’s $30 million purchase of Sion in March. Bilt was valued at $10.8 billion in its last private round.

Meta Acquires AI Coding Startup Conductor

Meta has acquired Conductor, an AI coding startup that lets software engineers run teams of agents in parallel workspaces, each working on a separate part of a project. Conductor launched its core product last summer and runs agents from labs including Anthropic and OpenAI rather than its own models.

Founder and CEO Charlie Holtz said the team will work with Meta’s Superintelligence Labs and promised something new for users by early next year. The deal adds to Meta’s push into AI coding after it launched its own Muse Code agent in August. Terms were not disclosed.

SpaceX Explores Boost Mobile Acquisition for US Wireless Push

SpaceX is in talks with EchoStar to buy Boost Mobile or gain access to its network, The Washington Post reported, as it works to launch Starlink Mobile, a hybrid satellite and cell tower wireless service. Elon Musk reportedly met EchoStar chairman Charlie Ergen in October; no deal has been announced.

SpaceX bought about $17 billion of wireless spectrum from EchoStar last year. Boost does not own towers and leases capacity from AT&T and T-Mobile, so those carriers may need to approve any transfer. Both, along with Verizon, reportedly turned down Musk’s requests for network access. EchoStar counted 7.38 million wireless customers across Boost and Gen Mobile at the end of the second quarter.

Docusign Buys Suplari to Add AI Procurement Intelligence

Docusign has acquired Suplari, a Seattle-based AI procurement intelligence company that pulls spend, supplier and contract data from ERP and procure-to-pay systems and tracks savings through to the P&L. Suplari’s customers include BT Group and Nordstrom.

Docusign will combine Suplari with Iris, the AI engine in its Intelligent Agreement Management platform, so agents can flag off-contract spending, track supplier commitments and prepare renewals. The deal extends Docusign further beyond e-signature, following its reported $165 million purchase of Lexion in 2024. Terms were not disclosed.

Omen AI Buys Aquatic Labs for $16 Million to Monitor Data Center Cooling

Omen AI, which builds real-time sensors that monitor the cooling fluid in data centers, has agreed to acquire competitor Aquatic Labs in a $16 million cash-and-stock deal. Omen’s sensors detect elements in the water while Aquatic Labs measures alkalinity, and the combined company plans to ship a single sensor by early next year.

Real-time monitoring replaces multi-day lab tests and helps operators avoid dumping fluid and shutting down chips. Aquatic Labs CEO Allan Adams, a former MIT professor, becomes chief science officer. The price equals about half of the $31 million Series A Omen raised in June.

Dark Matter Acquires AI Agent Platform House Numbers

Dark Matter Technologies, the mortgage loan origination software provider, has acquired the AI agent platform and intellectual property of House Numbers, whose agents monitor loan files, work through loan conditions and communicate with borrowers and lenders by email, text and voice.

House Numbers‘ platform has run in live production for two years and processed loans for more than 100 lenders. Co-founder and CEO Jeff Levinsohn joins Dark Matter as chief AI officer, and the technology will be built into Empower, its loan origination system. Terms were not disclosed.

About the author: Ben Boissevain [in] [𝕏] is the founder of Ascento Capital Invest (www.techbanking.com), a boutique investment bank providing M&A, capital raise and valuation advisory to technology companies in the U.S. and internationally. He compiles the weekly Top Ten Tech M&A Transactions list and is a contributor to TechCrunch.