RF Micro Devices Inc of Greensboro, NC, USA and fellow RF front-end component maker TriQuint Semiconductor Inc of Hillsboro, OR, USA have revealed that the holding company under which the two firms will combine 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) is said to convey the combined company’s ability to deliver the core technologies and innovation to enable customers to launch their next-generation designs more rapidly.
"Our new name reflects our company’s commitment to keep customers at the center of all that we do,” says RFMD’s president & CEO Bob Bruggeworth, 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,” he adds.
It is reckoned that, 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,” comments TriQuint’s CEO Ralph Quinsey, who will serve as non-executive chairman of Qorvo.
Shareholders of both TriQuint and RFMD voted on 5 September to approve the merger, and the transaction is expected to close in second-half 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’.
