Overview
- Qorvo shareholders will receive $32.50 in cash plus 0.96 of a Skyworks share per share, valuing the offer at $105.31, a 14.3% premium and about $9.76 billion for Qorvo.
- Ownership of the combined company is expected to be about 63% for Skyworks investors and 37% for Qorvo holders on a fully diluted basis.
- Skyworks CEO Phil Brace will lead the merged company, and Qorvo CEO Bob Bruggeworth will join its board.
- The firms project $7.7 billion in annual revenue and $2.1 billion in adjusted earnings, with $5.1 billion from mobile and expansion targeted in defense, automotive, IoT and AI data centers.
- Closing is targeted for early 2027 subject to shareholder and regulatory approvals, and shares rose in premarket trading with Skyworks up more than 12% and Qorvo up more than 11%.