Apple suppliers Qorvo and Skyworks to merge, creating a $22 billion chip giant

Apple suppliers Skyworks Solutions and Qorvo will merge in a cash-and-stock deal to create a radio chip company with an enterprise value of $22 billion.

Qorvo shareholders will receive $32.50 in cash and 0.96 of a Skyworks common share for each Qorvo share held at the close of the transaction, which is expected in early 2027, pending shareholder and regulatory approvals.

Activist investor Starboard Value, which owns about 8% of Qorvo, has already signed off on the deal. On a conference call with investors Tuesday, Skyworks said its biggest customers also expressed approval of the merger.

After closing, Skyworks shareholders will own roughly 63% of the combined company, with Qorvo shareholders owning the remaining 37%.

The companies which make radio frequency components and semiconducto