Qorvo, Inc. completed the acquisition of Anokiwave Inc. for $94 million.
February 04, 2024
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Qorvo, Inc. (NasdaqGS:QRVO) entered into a definitive agreement to acquire Anokiwave Inc. on January 22, 2024. The transaction is expected to be funded with cash on hand. The Anokiwave team will join Qorvo?s High Performance Analog (HPA) segment and will continue to develop beamformers and IF-RF solutions for defense phased array and AESA radar, electronic warfare, satellite communications and 5G applications. The acquisition is expected to be completed during the fourth quarter of fiscal 2024. Barclays PLC acted as financial advisor to Anokiwave Inc.
Qorvo, Inc. (NasdaqGS:QRVO) completed the acquisition of Anokiwave Inc. for $94 million on February 5, 2024. The acquisition includes net of cash acquired $10.7 million.
Qorvo, Inc. specializes in the design, production and marketing of radio-frequency components and solutions. In particular, the group makes power amplifiers, embedded modules, selector switches, duplexers, power management devices, wireless connection solutions, frequency convertors, oscillators, couplers and optical components.
Net sales break down by activity as follows:
- mobile terminals and electronic devices (76.3%);
- defense and aeronautics equipment, network infrastructures (23.7%).
At the end of March 2022, the group had 7 production sites located in the United States (3), China (2), Costa Rica and Germany.
Net sales break down geographically as follows: the United States (41.5%), China (32.3%), Taiwan (7.4%), Asia (13.4%) and Europe (5.4%).