Skyworks Completes Qorvo Combination, Finalizing $32.50-Plus-Stock Terms

Skyworks Solutions (Nasdaq: SWKS) said on October 5, 2026 that it has completed its combination with Qorvo, closing a deal first announced in late 2025 and creating what the company describes as a U.S.-based global leader in radio frequency, power management and analog/mixed-signal semiconductors, according to a filing reported by StockTitan and Yahoo Finance.

Final Terms: Cash, Stock and Ownership Split

Under the terms disclosed at closing, each Qorvo share was converted into the right to receive $32.50 in cash plus 0.960 of a Skyworks common share, a figure the merger agreement defines as the Exchange Ratio, per the StockTitan filing summary and a separate report from TradingView, which cited Seeking Alpha. On a fully diluted basis, legacy Skyworks shareholders now own approximately 63% of the combined company and legacy Qorvo shareholders own approximately 37%, StockTitan reported. That gap of 26 percentage points represents our calculation (63 minus 37), a relative difference of roughly 70% (26 divided by 37, multiplied by 100) between the two shareholder blocs' stakes in the combined entity.

The transaction closed well ahead of the companies' original public timetable. When the deal was announced, both sides had pointed to an early-2027 close pending regulatory and shareholder approvals, according to the Los Angeles Times and a Skyworks LinkedIn post from October 2025.

Leadership, Board and Advisory Changes

Phil Brace continues as chief executive officer and president of the combined Skyworks, according to the StockTitan filing summary and Yahoo Finance. The Skyworks board was expanded to eleven directors: Brace, seven Skyworks designees (Christine King, Alan S. Batey, Eric J. Guerin, Suzanne E. McBride, David P. McGlade, Robert A. Schriesheim and Maryann Turcke) and three Qorvo designees — former Qorvo chief executive Bob Bruggeworth, Richard L. Clemmer and Christopher R. Koopmans — per those same two reports. Kevin L. Beebe resigned from the Skyworks board and its committees at closing, a departure the filing said was not the result of any disagreement with the company; committee assignments for the incoming Qorvo designees had not yet been determined. On the legal side, Jason K. (J.K.) Givens, formerly Qorvo's senior vice president and general counsel, became Skyworks' senior vice president, general counsel and secretary, succeeding Robert Terry in that role, the filing said.

Bruggeworth, now a Skyworks director, said in the announcement carried by Yahoo Finance, "I have great confidence in the future of the combined company and its ability to deliver on the promise of the combination." Brace framed the close as an early step rather than an endpoint, saying, "Today marks an important milestone—but it is only the beginning," per the same report.

Regulatory Path to Closing

Econic Partners, which was retained alongside outside counsel Skadden, Arps, Slate, Meagher & Flom for Skyworks and Davis Polk for Qorvo to advise on antitrust matters, said Skyworks received all necessary regulatory clearances on September 30, 2026, after securing unconditional sign-off from China's State Administration for Market Regulation, the Korea Fair Trade Commission and the Taiwan Fair Trade Commission. That clearance cleared the final hurdle to the deal closing five days later.

Synergies, Financial Framing and Guidance

Skyworks reiterated a target of $500 million or more in annualized cost synergies, which it expects to realize within 24 to 36 months after close once the two businesses are fully integrated, according to the StockTitan filing and TradingView's report. The company also said the transaction is expected to be immediately accretive to non-GAAP earnings per share while maintaining what it called a favorable capital structure, per Yahoo Finance and TradingView.

No financial guidance for the combined entity was issued alongside the closing announcement. Skyworks said it will provide that guidance on its fiscal fourth-quarter earnings call on November 3, per the StockTitan filing, which also noted that required financial statements of the acquired Qorvo business and pro forma financial information were not included with the closing disclosure and will be filed by amendment no later than 71 days after the applicable filing deadline.

Skyworks pointed to scale benefits from the deal, citing roughly 8,000 combined engineers and more than 12,000 issued and pending patents, and said the combination more than doubles its addressable market across physical AI and connected edge, defense and aerospace, data center and networking, and automotive end markets, according to the LA Times and Yahoo Finance reports.

Alongside those expectations, Skyworks flagged risks typical of large post-merger integrations: the possibility that anticipated benefits are not realized because of integration delays or unexpected integration costs, reduced operating flexibility tied to the additional debt taken on for the deal, and continued reliance on a small number of key customers, including the mix and volume of phone models sold by its largest customer, per the StockTitan filing.

Qatalyst Partners and Goldman Sachs & Co. LLC advised Skyworks on the deal, with Skadden Arps serving as legal counsel, while Centerview Partners was Qorvo's exclusive financial adviser and Davis Polk & Wardwell served as its legal counsel, according to Yahoo Finance.

Bottom Line

The closing converts a deal announced roughly a year earlier into a completed combination with firm terms: $32.50 in cash plus 0.960 of a Skyworks share for every Qorvo share, and a 63/37 ownership split favoring legacy Skyworks holders, based on the reports cited above. Management has reiterated its synergy and accretion expectations, but financial guidance for the combined company, along with the required financial statements of the acquired business and pro forma financial information, is still pending, with specifics promised for the November 3 earnings call.