Apple suppliers Skyworks Solutions and Qorvo on Monday announced a definitive agreement to combine in a deal valued at approximately $22 billion, creating a radio-frequency (RF) chip powerhouse poised to capitalize on the growing demand for advanced connectivity in smartphones and beyond. The all-stock transaction aims to strengthen both companies’ positions as key providers to Apple, their largest customer, and accelerate innovation in areas like 5G, 6G, and Wi-Fi.
The merger arrives as the mobile industry increasingly relies on sophisticated RF solutions to support evolving wireless standards and the proliferation of connected devices. By uniting Skyworks’ expertise in front-end solutions wiht Qorvo’s capabilities in power amplifiers and connectivity, the combined entity will offer a more comprehensive portfolio to Apple and other customers, possibly lowering costs and streamlining supply chains. The deal is expected to close in the second half of 2024, subject to shareholder and regulatory approvals.Under the terms of the agreement, Qorvo shareholders will receive 1.2 shares of Skyworks for each share thay own. The combined company will operate under the Skyworks Solutions name and will be headquartered in Irvine, California. Liam Griffin will serve as executive chairman,and Stephen Volk will continue as president and CEO.
“This strategic combination will create a leading RF solutions provider with a broad portfolio, scale, and financial flexibility to drive innovation and long-term value creation,” said Stephen Volk, president and CEO of Skyworks. “Together with Qorvo, we will be better positioned to serve our customers and capitalize on the significant opportunities ahead.”
Qorvo president and CEO Brent Schuster added, “This transaction is a compelling value proposition for qorvo shareholders, and we are excited about the potential to create a stronger, more competitive company.”
