10:13 AM EDT, 10/28/2025 (MT Newswires) -- (Updates headline and adds stock price changes in the final paragraph.)

Skyworks Solutions ( SWKS ) said Tuesday that it has agreed to combine with Qorvo ( QRVO ) in a cash-and-stock deal that values the combined enterprise at about $22 billion.

Qorvo ( QRVO ) shareholders will receive $32.50 in cash and 0.960 of a Skyworks share for each Qorvo ( QRVO ) share they own at the close of the deal, which is expected in early 2027, Skyworks said.

Skyworks said the deal is expected to be immediately and meaningfully accretive to non-GAAP EPS after closing, with about $500 million in annual cost synergies realized within 24 to 36 months of closing.

Qorvo ( QRVO ) shares jumped 11.3% in recent Tuesday trading, while Skyworks rose 12.8%.

Price: 85.64, Change: +9.80, Percent Change: +12.92