Qorvo® to Acquire Anokiwave
- Acquisition of Anokiwave expands Qorvo's addressable opportunities in D&A, SATCOM, and 5G markets
- Combination of Qorvo and Anokiwave's capabilities will enable the supply of highly integrated complete solutions and SiPs for defense, aerospace, and network infrastructure applications
- Anokiwave's innovative portfolio of active antenna ICs, combined with Qorvo’s complementary products, global scale, and significant market reach, will create exciting new opportunities for customers
- None.
Insights
The acquisition of Anokiwave by Qorvo represents a strategic expansion into high-growth markets such as defense & aerospace (D&A), satellite communications (SATCOM) and 5G technologies. These sectors are characterized by rapid technological advancements and a high degree of innovation. The integration of Anokiwave's high-frequency beamforming and IF-RF conversion ICs into Qorvo's product lineup is expected to enhance Qorvo's RF front end portfolio, which is critical for a variety of applications, including phased array and AESA radar systems, electronic warfare and network infrastructure.
From a market perspective, this acquisition is likely to strengthen Qorvo's competitive position by broadening its capabilities in the intelligent active array antenna space. The synergy between Anokiwave's advanced ICs and Qorvo's existing solutions could lead to the development of more sophisticated and integrated products, potentially increasing market share and revenue streams in the long term. This move also signals Qorvo's commitment to investing in areas with significant growth potential, which could be positively reflected in its stock performance as the market responds to the expansion of its addressable opportunities.
The financial implications of this acquisition for Qorvo and its stakeholders are multifaceted. In the short term, the market will be observing the impact of the acquisition costs on Qorvo's financial statements, as well as the integration expenses. However, the long-term benefits may outweigh these initial expenditures. Anokiwave's product portfolio is expected to complement Qorvo's offerings, potentially leading to cost synergies, enhanced product development and increased efficiency.
Investors will be keen on understanding the transaction's impact on Qorvo's earnings per share (EPS) and whether the acquisition will be accretive or dilutive. The anticipated closure of the transaction during the March quarter means that the financial effects will likely be reflected in subsequent quarterly reports, providing a clearer picture of the acquisition's success. Furthermore, the ability to offer more integrated solutions could improve Qorvo's margins over time, which is a critical factor for shareholder value.
Qorvo's acquisition of Anokiwave is significant from a technological standpoint. Anokiwave's expertise in high-frequency beamforming is essential for the development of active antenna systems, which are increasingly important in modern communication and defense applications. Beamforming technology allows for more precise transmission and reception of signals, enhancing the performance of systems in D&A, SATCOM and 5G networks. The integration of Anokiwave's technologies with Qorvo's RF solutions is poised to result in advanced system-in-package (SiP) offerings, which combine multiple integrated circuits into a single module, thus providing superior performance and efficiency.
The technological synergies between the two companies could accelerate innovation and product development, enabling Qorvo to stay ahead in a competitive landscape. As 5G infrastructure continues to roll out and the demand for sophisticated communication systems in defense and aerospace sectors grows, Qorvo's enhanced capabilities may lead to securing larger contracts and partnerships, further solidifying its position in the market.
Anokiwave’s Solutions Expand Qorvo’s Addressable Opportunities in D&A, SATCOM and 5G Markets
GREENSBORO, N.C., Jan. 31, 2024 (GLOBE NEWSWIRE) -- Qorvo® (Nasdaq:QRVO), a leading global provider of connectivity and power solutions, today announced it has reached a definitive agreement to acquire Anokiwave, a leading supplier of high performance silicon integrated circuits (ICs) for intelligent active array antennas for D&A, SATCOM and 5G applications. The transaction is expected to close during the March quarter.
Anokiwave is based in Boston, MA, and operates design centers and sales offices in Boston, MA and San Diego, CA. 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.
Philip Chesley, president of Qorvo’s High Performance Analog segment, said, “Anokiwave’s high-frequency beamforming and intermediate frequency (IF) to RF conversion ICs are a strong complement to Qorvo’s RF front end portfolio. The combination of our unique capabilities will enable us to supply highly integrated complete solutions and SiPs for defense, aerospace and network infrastructure applications.”
Nitin Jain, Anokiwave Chief Technology Officer, Founder and Chairman of the Board, said, “The Anokiwave team is thrilled to join Qorvo and continue to expand our high-performance portfolio with speed and scale. Anokiwave’s innovative portfolio of active antenna ICs, combined with Qorvo’s complementary products, global scale and significant market reach, will create exciting new opportunities to deliver customers superior levels of performance, efficiency and integration.”
About Qorvo
Qorvo (Nasdaq:QRVO) supplies innovative semiconductor solutions that make a better world possible. We combine product and technology leadership, systems-level expertise and global manufacturing scale to quickly solve our customers' most complex technical challenges. Qorvo serves diverse high-growth segments of large global markets, including consumer electronics, smart home/IoT, automotive, EVs, battery-powered appliances, network infrastructure, and aerospace/defense. Visit www.qorvo.com to learn how our diverse and innovative team is helping connect, protect and power our planet.
Qorvo is a registered trademark of Qorvo, Inc. in the U.S. and in other countries. All other trademarks are the property of their respective owners.
This press release includes "forward-looking statements" within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements about our plans, objectives, representations and contentions, and are not historical facts and typically are identified by terms such as "may," "will," "should," "could," "expect," "plan," "anticipate," "believe," "estimate," "forecast", "predict," "potential," "continue" and similar words, although some forward-looking statements are expressed differently. You should be aware that the forward-looking statements included herein represent management's current judgment and expectations, but our actual results, events and performance could differ materially from those expressed or implied by forward-looking statements. We do not intend to update any of these forward-looking statements or publicly announce the results of any revisions to these forward-looking statements, other than as is required under U.S. federal securities laws. Our business is subject to numerous risks and uncertainties, including those relating to fluctuations in our operating results on a quarterly and annual basis; our substantial dependence on developing new products and achieving design wins; our dependence on several large customers for a substantial portion of our revenue; a loss of revenue if defense and aerospace contracts are canceled or delayed; continued effects of the COVID-19 pandemic; our dependence on third parties; risks related to sales through distributors; risks associated with the operation of our manufacturing facilities; business disruptions; poor manufacturing yields; increased inventory risks and costs, including under long-term supply agreements, due to timing of customers' forecasts; our inability to effectively manage or maintain evolving relationships with chipset suppliers; our ability to continue to innovate in a very competitive industry; underutilization of manufacturing facilities; unfavorable changes in interest rates, pricing of certain precious metals, utility rates and foreign currency exchange rates; our acquisitions and other strategic investments failing to achieve financial or strategic objectives; our ability to attract, retain and motivate key employees; warranty claims, product recalls and product liability; changes in our effective tax rate; enactment of international or domestic tax legislation, or changes in regulatory guidance; changes in the favorable tax status of certain of our subsidiaries; risks associated with environmental, health and safety regulations, and climate change; risks from international sales and operations; economic regulation in China; changes in government trade policies, including imposition of tariffs and export restrictions; we may not be able to generate sufficient cash to service all of our debt; restrictions imposed by the agreements governing our debt; our reliance on our intellectual property portfolio; claims of infringement of third-party intellectual property rights; security breaches and other similar disruptions; theft, loss or misuse of personal data by or about our employees, customers or third parties; provisions in our governing documents and Delaware law may discourage takeovers and business combinations that our stockholders might consider to be in their best interests; and volatility in the price of our common stock. These and other risks and uncertainties, which are described in more detail under "Risk Factors" in Part I, Item 1A of our Annual Report on Form 10-K for the fiscal year ended April 1, 2023, and Qorvo's subsequent reports and statements that we file with the SEC, could cause actual results and developments to be materially different from those expressed or implied by any of these forward-looking statements.
At Qorvo®
Doug DeLieto
VP, Investor Relations
1-336-678-7968
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