Skyworks and Qorvo to merge, creating a $22b company
Skyworks Solutions and Qorvo have entered into a definitive agreement to merge in a cash-and-stock transaction that values the combined enterprise at approximately USD 22 billion.
The transaction aims to create a US-based global leader in high-performance radio frequency (RF), analog, and mixed-signal semiconductors.
Under the terms of the agreement, Qorvo shareholders will receive USD 32.50 in cash and 0.960 of a Skyworks common share for each Qorvo share. Upon closing, Skyworks shareholders are expected to own roughly 63% of the combined company, with Qorvo shareholders holding approximately 37%. Phil Brace, CEO of Skyworks, will serve as chief executive officer of the merged company, while Bob Bruggeworth, CEO of Qorvo, will join the board.
“This combination marks an important milestone for our industry and for Skyworks,” said Phil Brace, chief executive officer and president of Skyworks, in a press release. “Combining Skyworks’ and Qorvo’s complementary portfolios and world-class engineering teams will strengthen our ability to meet growing customer demand across mobile and diversified Broad Markets. With enhanced scale, a more diversified customer base and operational synergies, we can bring even greater innovation to our customers and sustainable value to our shareholders.”
The merger is projected to deliver combined pro forma revenue of USD 7.7 billion and Adjusted EBITDA of USD 2.1 billion. The companies anticipate USD 500 million or more in annual cost synergies within 24–36 months of full integration.
“Together with Skyworks, we can accelerate innovation and deliver broader and more comprehensive solutions across numerous growth areas. We are excited to leverage the combined strengths of our teams and product and technology portfolios to build on our capabilities in Mobile and significantly expand our presence in defence and aerospace, edge IoT, AI data centre, automotive and other industries powered by secular growth trends,” said Bob Bruggeworth, chief executive officer and president of Qorvo.
The companies said the merger will enhance domestic manufacturing capabilities, improve factory utilisation, and strengthen operational efficiency.
The boards of both companies have unanimously approved the transaction, which is expected to close in early 2027, pending regulatory approvals, shareholder approvals, and other customary closing conditions.
