Skyworks is in acquisition talks with Qorvo.

Skyworks Solutions, a company that supplies radio frequency chips to Apple and other smartphone manufacturers, has held acquisition talks with rival Qorvo in recent months. This information was confirmed by The Information, citing sources familiar with the matter.

Qorvo's market value is estimated at $8.54 billion according to LSEG data, while its share price closed at $92.13 on Nasdaq on Monday. Meanwhile, Skyworks' market value is recorded at $11.26 billion and the company employs more than 10,000 people as of 2024.

Neither company immediately responded to requests for comment. Reuters was unable to quickly verify the report.

Skyworks designs and produces analog and mixed-signal chips used in wireless communications, automotive, industrial, and consumer electronics. The company had forecast that its fourth-quarter revenues and earnings would exceed market expectations in August, supported by the ongoing demand for its analog chips.

In April, Qorvo appointed industry veterans Richard Clemmer and Christopher Koopmans as independent board members in response to pressure from activist investor Starboard Value to support its share price. Starboard had requested the nomination of Peter Feld to the Qorvo board and aimed to increase its stake in the company to 8.9% to gain further influence.