$SWKS · SKYWORKS SOLUTIONS, INC.

Skyworks Solutions completed its merger with Qorvo on October 5, 2026, creating a combined RF, power management, and analog semiconductor leader. Qorvo shareholders receive $32.50 in cash and 0.960 Skyworks shares per Qorvo share, with legacy Skyworks shareholders owning ~63% and legacy Qorvo ~37% of the combined entity. The company targets $500 million or more in annualized cost synergies within 24-36 months and expects immediate non-GAAP EPS accretion.

Markets closed — no regular-session reaction yet; extended-hours move not captured here. The deal's scale ($500M+ synergies, immediate non-GAAP EPS accretion) and diversification into defense, data center, and automotive suggest a positive reception is likely.

This merger reshapes the RF semiconductor landscape, combining two top-tier suppliers into a diversified U.S. leader with a doubled addressable market and a clear synergy roadmap.

This merger consolidates two major RF semiconductor players, creating a U.S.-based leader spanning mobile, defense/aerospace, data center, and automotive. The deal mirrors broader semiconductor consolidation trends as firms seek scale to manage rising RF complexity for 5G-Advanced and 6G.

Integration risk: $500M+ synergies are expected but not guaranteed within 24-36 months. Substantial additional indebtedness incurred for the cash portion ($32.50/share) reduces financial flexibility. Customer concentration risk persists post-merger.