RF Micro Devices, Inc. and TriQuint Semiconductor, Inc. revealed that the holding company under which the companies will combine in a merger of equals will be named Qorvo™, Inc. The companies also unveiled the new Qorvo logo and stock trading symbol, which they will begin using immediately upon closing of the merger.
The name Qorvo (pronounced kor-vo) conveys the combined company’s ability to deliver the core technologies and innovation that will enable customers to launch their next-generation designs even faster. With a unique combination of talent and technology, Qorvo will eliminate barriers to help customers bring their most powerful new ideas to market.
“We believe that our new name reflects our company’s commitment to keep customers at the center of all that we do,” said Bob Bruggeworth, RFMD president and CEO, who will serve as Qorvo’s CEO following closing of the merger. “As a new leader in RF solutions, Qorvo will offer the agility, innovation and precision customers need for success in mobile, infrastructure, and defense markets.”
By combining TriQuint’s and RFMD’s engineering creativity, product development expertise, complete product portfolios, and high-volume manufacturing, Qorvo will rapidly translate R&D advances into large scale production.
“Our companies have been RF industry pioneers developing many of the core technologies our world now relies on,” said TriQuint CEO Ralph Quinsey, who will serve as non-executive Chairman of Qorvo following closing of the merger. “Qorvo is building from our foundation of true innovation to solve our customers’ most difficult challenges. We do this so that their customers, whether mobile consumers or troops on the move, will be able to connect with loved ones, protect our security, or voyage to new lands.”
Shareholders of both TriQuint and RFMD voted to approve the merger on September 5, 2014, and the transaction is expected to close in the second half of 2014, following other required regulatory approvals and satisfaction of customary closing conditions. Qorvo is expected to be traded on the NASDAQ Global Stock Market under the ticker symbol “QRVO” following closing of the merger.
