Skyworks Completes Landmark Merger with Qorvo

Overview: Completion of Skyworks–Qorvo Combination

On October 5, 2026, Skyworks Solutions, Inc. ($SWKS) officially closed its transformative merger with Qorvo, Inc. pursuant to the merger agreement dated October 27, 2025. The transaction consolidates two major players in radio frequency (RF), power management, and mixed-signal semiconductor solutions.

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Transaction Structure & Consideration

• Consideration Terms: Each outstanding share of Qorvo common stock was converted into:
  • 0.960 shares of Skyworks common stock, plus
  • $32.50 in cash (without interest).
• Pro-Forma Ownership: On a fully diluted basis, legacy Skyworks shareholders hold approximately 63% and legacy Qorvo shareholders hold approximately 37% of the combined company.
• Financing: Cash consideration was funded in part via $2.0 billion aggregate principal amount of senior notes issued on August 10, 2026 ($800M due 2028, $600M due 2032, and $600M due 2036).
• Equity Award Adjustments: Unvested Qorvo RSUs were converted into Skyworks RSUs using an exchange formula combining the 0.960 fixed ratio and the cash component converted via a 5-day VWAP.

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Strategic & Financial Impact

• Synergies: Management expects $500 million or more in annualized cost synergies, projected within 24 to 36 months post-close.
• Earnings Accretion: Skyworks expects the transaction to be immediately accretive to non-GAAP EPS.
• Market Position: Doubling the addressable market outside mobile, expanding footprint into physical AI, connected edge, aerospace/defense, data centers, wired broadband, and RF GaN.

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Governance & Executive Transitions

• Board Changes: The Skyworks Board expanded to 11 members:
  • CEO: Philip G. Brace continues as CEO and director.
  • Skyworks Designees (7): Christine King, Alan S. Batey, Eric J. Guerin, Suzanne E. McBride, David P. McGlade, Robert A. Schriesheim, and Maryann Turcke.
  • Qorvo Designees (3): Robert A. Bruggeworth (former Qorvo CEO), Richard L. Clemmer, and Christopher R. Koopmans.
  • Resignation: Kevin L. Beebe resigned from the Board concurrently with the closing.
• Executive Changes: Robert Terry departed as SVP, General Counsel and Secretary effective October 5, 2026. Jason K. (J.K.) Givens, formerly Qorvo's General Counsel, has been appointed SVP, General Counsel and Secretary of Skyworks.