Skyworks completes combination with qorvo

• Skyworks Solutions (NASDAQ:SWKS) completed its combination with Qorvo to create a unified semiconductor company focused on radio frequency, analog, and power technologies.
• Qorvo shareholders are entitled to receive $32.50 in cash and 0.960 Skyworks common shares for each share they own.
• The company stated that the transaction more than doubles its addressable market beyond mobile applications while expanding its technology portfolio.

Skyworks (NASDAQ:SWKS) finalized its strategic combination with Qorvo, uniting two major players in radio frequency, analog, and power semiconductor solutions.

Legacy Skyworks shareholders own approximately 63% of the combined company, and legacy Qorvo shareholders own roughly 37% on a fully diluted basis.

The newly expanded enterprise anticipates generating $500 million or more in annualized cost synergies within 24 to 36 months of closing once fully integrated, alongside an immediate boost to non-GAAP earnings per share.

Meanwhile, Phil Brace continues his role as CEO and president, while three former Qorvo directors have joined the corporate board.

Management scheduled official financial guidance updates for the upcoming earnings call on Nov. 3.