(Reuters) -Skyworks Solutions, which supplies radio frequency chips to Apple and other smartphone makers, held talks in recent months to buy rival Qorvo, The Information reported on Tuesday, citing people familiar with the matter.
Qorvo, which has a market cap of $8.54 billion according to LSEG data, closed at $92.13 on the Nasdaq on Monday.
Skyworks has a market cap of $11.26 billion, according to LSEG, and employed more than 10,000 people as of 2024, according to their website.
Skyworks Solutions and Qorvo did not immediately respond to requests for comment. Reuters could not immediately verify the report.
Skyworks designs and manufactures analog and mixed-signal chips used in wireless communication, automotive, industrial and consumer electronics. The firm had in August forecast fourth-quarter revenue and profit above Wall Street expectations, benefiting from steady demand for its analog chips.
In April, Qorvo appointed industry veterans Richard Clemmer and Christopher Koopmans as independent directors to its board, amid activist investor Starboard Value’s push to boost the company’s weak share price.
Starboard had nominated its managing member Peter Feld for election to the Qorvo board and increased its stake in the firm to about 8.9%.
(Reporting by Disha Mishra in Bengaluru; Editing by Nivedita Bhattacharjee and Mrigank Dhaniwala)
Comments