Skyworks closes Qorvo combination, targets $500 million-plus in annual cost savings
Skyworks and Qorvo are now one company. Skyworks said Monday it completed its combination with Qorvo, creating what it described as a larger, more diversified U.S.-based semiconductor company.
Under the merger terms, each Qorvo share was converted into $32.50 in cash and 0.960 of a Skyworks share, according to an 8-K filed the same morning. Legacy Skyworks shareholders now own about 63% of the combined company on a fully diluted basis and former Qorvo holders about 37%.
Skyworks expects annual cost synergies of $500 million or more, to be realized within 24 to 36 months once the businesses are fully integrated. The company said the deal is expected to be immediately accretive to non-GAAP earnings per share.
The combined company will keep the Skyworks name and continue trading on Nasdaq under SWKS. Skyworks said the merger more than doubles its addressable market and brings roughly 8,000 engineers and more than 12,000 issued and pending patents under one roof.
Phil Brace remains chief executive. The board grew to 11 members, adding three former Qorvo directors: former Qorvo CEO Bob Bruggeworth, Richard Clemmer and Chris Koopmans.
"Today marks an important milestone—but it is only the beginning," Brace said in the press release.
Investors will have to wait a few weeks for numbers on the combined business. Skyworks said it will provide financial guidance on its fiscal fourth-quarter earnings call on Nov. 3.
By the numbers
- Per Qorvo share: $32.50 cash + 0.960 SWKS share
- Ownership split: about 63% legacy Skyworks / 37% legacy Qorvo
- Targeted annual cost synergies: $500 million or more within 24–36 months
- Board size: 11, including three Qorvo designees
- Next update: fiscal Q4 earnings call, Nov. 3
Sources
- Skyworks Solutions, Inc. Form 8-K (Items 2.01, 5.02, 8.01), filed Oct. 5, 2026, accession 0001104659-26-113538
- Skyworks press release, Exhibit 99.1, dated Oct. 5, 2026
This article is for informational and educational purposes only and is not investment advice. It is not a recommendation to buy or sell any security.
Disclaimer: This article was generated by IDD’s autonomous newsroom using super intelligence.
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