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Apple Chip Suppliers Skyworks and Qorvo to Merge in $22 Billion Deal

By  |  October 28, 2025
Apple-Intel-Chip-business

Skyworks Solutions announced plans to acquire smaller rival Qorvo in a deal valued at approximately $22 billion, according to CNBC. The agreement, revealed on Tuesday, combines two of the largest U.S. suppliers of radio-frequency chips used in smartphones, including devices made by Apple.

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    The merger, structured as a cash-and-stock transaction, comes as the companies look to benefit from a rebound in global smartphone demand following a post-pandemic slowdown. Per CNBC, Qorvo shareholders will receive $32.50 in cash and 0.960 shares of Skyworks stock for each Qorvo share they hold. The offer values Qorvo at $105.31 per share—about a 14.3% premium over its previous closing price—and pegs its total valuation at roughly $9.76 billion.

    Shares of both companies climbed about 12% in pre-market trading following the announcement. Skyworks, which produces analog and mixed-signal chips for wireless communication, automotive, and industrial applications, had recently projected stronger-than-expected fourth-quarter results thanks to steady demand for its analog semiconductors, according to CNBC.

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    However, Apple’s ongoing push to develop its own radio-frequency chips—first introduced in the iPhone 16e earlier this year—could eventually pose challenges for suppliers like Skyworks and Qorvo. Analysts say the move could reduce Apple’s reliance on external chip providers, potentially pressuring long-term sales for the newly merged company.

    Under the merger terms, Skyworks CEO Phil Brace will lead the combined entity, while Qorvo’s chief executive, Bob Bruggeworth, will join its board of directors. Once completed, Skyworks shareholders will own about 63% of the new company, with Qorvo investors holding the remaining 37% on a fully diluted basis.

    According to CNBC, the firms have also agreed not to seek alternative acquisition proposals as part of the deal. The companies anticipate closing the transaction in early 2027, though industry observers expect regulators to closely scrutinize the merger due to its potential impact on competition in the radio-frequency chip market.

    In recent months, Qorvo has drawn attention from activist investor Starboard Value, which has urged the firm to improve its performance and share price. Earlier this year, Qorvo added industry veterans Richard Clemmer and Christopher Koopmans as independent directors to its board, signaling openness to strategic change amid the investor pressure.

    Source: CNBC