Qorvo emerges out of RF-specialist merger
"This is an important milestone for our Company, employees, customers, shareholders and our industry," said Qorvo President and CEO Bob Bruggeworth. "Qorvo brings under one roof all the critical RF building blocks needed to simplify design, reduce size and conserve power, while improving system performance across mobile, infrastructure, and aerospace and defense applications. Our goal is to build the most valuable company in our space, and the global Qorvo team is eager to deliver the value our stakeholders expect."
The merger is expected to achieve at least $150 million in cost "synergies" (savings through eliminating dupications); $75 million in annualized savings at the end of the first year after closing and an additional $75 million at the end of the second year.
Qorvo; www.qorvo.com
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