Skyworks completes Qorvo merger in stock and cash deal

Skyworks Solutions Inc. (SWKS) said on Monday that it has completed its combination with Qorvo Inc., creating a global semiconductor supplier focused on high-performance radio frequency, power management, and analog and mixed-signal solutions.

Under the terms of the merger agreement, Qorvo shareholders received $32.50 in cash and 0.960 of a share of Skyworks common stock for each share of Qorvo common stock owned. Legacy Skyworks shareholders own approximately 63% of the combined company, and legacy Qorvo shareholders own approximately 37% on a fully diluted basis. The company continues to operate as Skyworks and trades under the SWKS ticker symbol on Nasdaq.

"This combination is about far more than bringing two companies together," Phil Brace, chief executive officer and president of Skyworks, said in a press release. "Our customers are tackling increasingly complex challenges and need partners with the capabilities, engineering expertise and scale to help them innovate faster."

The transaction brings together approximately 8,000 engineers and a portfolio of more than 12,000 issued and pending patents. Skyworks expects to realize annualized cost synergies of $500 million or more within 24 to 36 months post-close. The company said the transaction is immediately accretive to non-GAAP earnings per share and announced plans to provide financial guidance on its fiscal fourth-quarter earnings call on Nov. 3.

To finance the cash consideration for the merger, Skyworks issued $800 million of 5.000% senior notes due 2028, $600 million of 5.750% senior notes due 2032, and $600 million of 6.250% senior notes due 2036, utilizing a registration statement filed with the SEC on August 3, 2026.

The combined company's board of directors expanded to eleven members following the close. Joining chief executive officer Philip G. Brace and seven existing Skyworks directors are three former Qorvo board members: Robert A. Bruggeworth, Richard L. Clemmer, and Christopher R. Koopmans.

"This next chapter begins with an immense amount of pride," Bob Bruggeworth, former chief executive officer and president of Qorvo and a member of the Skyworks board of directors, said in a statement. "I've had the opportunity to see firsthand our teams preparing for this moment with tremendous focus and discipline."

In connection with the closing, Kevin L. Beebe resigned from the Skyworks board of directors. Additionally, Robert Terry departed from his role as senior vice president, general counsel and secretary, with Jason K. Givens, formerly Qorvo's general counsel, assuming the position.