Skyworks Solutions and Qorvo have announced a definitive agreement to combine in a cash-and-stock transaction valuing the new enterprise at approximately $22 billion, forming a U.S.-based leader in high-performance RF, analog, and mixed-signal semiconductor solutions.
The merger will create a company with combined revenue of $7.7 billion and adjusted EBITDA of $2.1 billion. The unified entity will serve diverse markets, including mobile devices, defense and aerospace, automotive, AI data centers, and edge IoT applications. Phil Brace, current CEO of Skyworks, will lead the combined company, while Bob Bruggeworth, CEO of Qorvo, will join its board of directors.
Under the terms, Qorvo shareholders will receive $32.50 in cash and 0.960 Skyworks shares for each Qorvo share held. Upon closing, Skyworks shareholders will own approximately 63 percent of the combined company, and Qorvo shareholders will hold 37 percent. The transaction is expected to be completed in early 2027, pending regulatory and shareholder approvals.
The merger is designed to enhance innovation, scale, and manufacturing efficiency, with projected annual cost synergies exceeding $500 million within three years post-closing.
KEY QUOTES:
“This combination marks an important milestone for our industry and for Skyworks. 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.”
Phil Brace, President and CEO, Skyworks
“Qorvo and Skyworks share a culture of innovation and a commitment to solving our customers’ most complex challenges. 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 defense and aerospace, edge IoT, AI data center, automotive and other industries powered by secular growth trends.”
Bob Bruggeworth, President and CEO, Qorvo
