RF Micro Devices, Inc. (Nasdaq:RFMD) and TriQuint Semiconductor, Inc. (Nasdaq:TQNT) today revealed that the holding company under which the companies will combine in a merger of equals will be named QorvoTM, 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.
For a high resolution version of the Qorvo logo, click here.
Founded in 1985, TriQuint Semiconductor (NASDAQ: TQNT) is a leading RF solutions supplier and technology innovator for the world's top communications, defense and aerospace companies. People and organizations around the world need real-time, all-the-time connections; TriQuint products help reduce the cost and increase the performance of connected mobile devices and the networks that deliver critical voice, data and video communications. With the industry's broadest technology portfolio, recognized R&D leadership, and expertise in high-volume manufacturing, TriQuint creates standard and custom products using gallium arsenide (GaAs), gallium nitride (GaN), surface acoustic wave (SAW) and bulk acoustic wave (BAW) technologies. The company has ISO9001-certified manufacturing facilities in the U.S., production in Costa Rica, and design centers in North America and Germany. For more information, visit www.triquint.com.
RFMD (Nasdaq:RFMD) is a global leader in the design and manufacture of high-performance radio frequency solutions. RFMD's products enable worldwide mobility, provide enhanced connectivity, and support advanced functionality in the mobile device, wireless infrastructure, wireless local area network (WLAN or Wi-Fi), cable television (CATV)/broadband, Smart Energy/advanced metering infrastructure (AMI), and aerospace and defense markets. RFMD is recognized for its diverse portfolio of semiconductor technologies and RF systems expertise and is a preferred supplier to the world's leading mobile device, customer premises, and communications equipment providers. RFMD is an ISO 9001-, ISO 14001-, and ISO/TS 16949-certified manufacturer with worldwide engineering, design, sales and service facilities. For more information, please visit RFMD's web site at rfmd.com.