October 29, 2025 /SemiMedia/ — Skyworks and Qorvo have announced a definitive merger agreement to combine their businesses in a cash-and-stock deal valued at approximately $22 billion. The merger will create a global powerhouse in RF (Radio Frequency) and analog semiconductors, strengthening both companies' positions in high-growth sectors such as mobile, IoT, automotive, and defense.

Skyworks CEO Phil Brace said, “This merger is a landmark moment for Skyworks and the industry. By combining our complementary product lines and engineering expertise, we are better positioned to meet the expanding demands of a diverse customer base. This increased scale and operational synergy will drive innovation and deliver significant value to our customers and shareholders.”

Qorvo CEO Bob Bruggeworth added, “Both Skyworks and Qorvo share a deep commitment to innovation. By joining forces, we can accelerate product development and expand our reach into new markets like defense, AI, automotive, and more. This merger enhances our ability to provide customers with a comprehensive suite of RF and analog solutions.”

Key Highlights of the Merger:

  • Enhanced Financial Strength:
    The combined entity is expected to generate $7.7 billion in revenue, with an adjusted EBITDA of $2.1 billion. This scale will improve competitive positioning, while delivering better operational efficiency and a more predictable financial profile.
  • Boosted Innovation and Market Reach:
    With a combined team of 8,000 engineers and over 12,000 patents, the merger will drive faster innovation in high-performance semiconductor solutions. This includes the development of advanced system-level solutions and unlocking new opportunities in key markets.
  • Expanded Market Presence:
    The merger will create a more diversified market platform, with a combined presence in mobile, defense, aerospace, AI, and automotive markets. These sectors are expected to see continued strong growth, offering high-margin opportunities for the combined company.
  • Strengthened U.S. Manufacturing:
    The new entity will enhance its domestic manufacturing footprint and increase capital efficiency, supported by a robust supply chain to meet high-volume, specialized customer needs.
  • Value Creation and Synergies:
    The transaction is expected to immediately increase non-GAAP earnings per share, with $500 million in annual cost synergies expected within 24-36 months post-merger.

Transaction Terms:

Under the terms of the agreement, Qorvo shareholders will receive $32.50 in cash and 0.96 shares of Skyworks common stock for each Qorvo share. The combined company is valued at $22 billion, with Skyworks shareholders holding 63% and Qorvo shareholders holding 37%. Skyworks CEO Phil Brace will continue as CEO of the merged company, with Qorvo’s Bob Bruggeworth joining the board.

Closing Timeline and Approvals:

The merger has been approved by the boards of both companies and is expected to close in early 2027, pending regulatory approvals and shareholder votes. Starboard Value LP, which holds 8% of Qorvo’s shares, has signed a voting agreement in support of the deal.