Skyworks, Qorvo Announce $22B Merger

Skyworks Solutions and Qorvo announced a cash-and-stock merger to create a roughly $22 billion radio-frequency, analog and mixed-signal chip supplier. Under the deal, Qorvo shareholders will receive $32.50 in cash plus 0.96 of a Skyworks share, leaving Skyworks investors with about 63% of the combined company and Qorvo holders with about 37% on a fully diluted basis. The companies said the merged business would generate about $7.7 billion in annual revenue and $2.1 billion in adjusted earnings, with the mobile phone segment accounting for roughly $5.1 billion. Skyworks CEO Phil Brace will lead the combined company and Qorvo CEO Bob Bruggeworth will join its board, and the firms expect the transaction to close in early 2027 subject to regulatory and shareholder approvals. Markets reacted positively to the announcement while analysts warned the deal could draw antitrust scrutiny and face long-term pressure from Apple’s push to develop its own radio chips; management said the merger will deliver operational synergies and broaden exposure into defense, automotive, IoT and AI data-center markets.