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Date: 06-03-14

RFMD and TriQuint to merge

Compound semicondutor specialists RF Micro Devices, Inc. (RFMD) and TriQuint Semiconductor have announced a definitive merger agreement under which the companies will combine in an all-stock transaction.

The combined biz expected to generate approximately $500 million in annual revenue.

"The world's demand for mobile data is growing exponentially," said RFMD CEO and President Bob Bruggeworth. "The combination of TriQuint and RFMD creates a new leader in RF solutions with expertise in mobile devices and complex infrastructure and global defense applications. With this merger of equals, we will bring under one roof all of the critical RF building blocks necessary to innovate at the heart of what makes mobile mobile - the crucial back-and-forth data flow between the mobile device and the network. We will harness this innovation for the benefit of all our customers - from mobile to infrastructure to defense."

"I believe this is an industry shaping event," said TriQuint CEO Ralph Quinsey. "Through this combination of RFMD and TriQuint we form a diversified market leader with a highly compatible combination of products and technologies and a world class team focused on innovation and superior financial results. The alignment of culture between the two companies and the well matched products, capabilities and technologies will create compelling new opportunities."

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