Chipmaker Skyworks Solutions in Irvine and Qorvo (NASDAQ: QRVO) of Greensboro, N.C. said today the two Apple Inc. suppliers had entered into a definitive agreement to combine the two companies in a cash-and-stock transaction that values the combined enterprise at approximately $22 billion.
The venture is designed to create a global leader in high-performance radio frequency, analog and mixed-signal semiconductors. Reuters news agency said the arrangement amounts to an acquisition by Skyworks (Nasdaq: SWKS) given the Irvine-based company’s much larger size and planned majority of shares in the combined firm.
Skyworks said the deal is subject to the receipt of required regulatory approvals and is expected to close in early 2027.
Shares in Skyworks rose 12% to $84.90 apiece for a market cap of $12.6 billion after the announcement.
Separately, Skyworks released preliminary financial results showing fourth-quarter revenue of $1.1 billion, up slightly from $1.03 billion in the same period of 2024.
For further details, see the Nov. 3 print edition of the Business Journal.
