Qorvo Ups Ante In Power Management With Active-Semi Buyout
Zacks Investment Research | Apr 11, 2019 09:56PM ET
Qorvo, Inc. (NASDAQ:QRVO) recently inked a deal to acquire Active-Semi International, Inc. with an aim to strengthen its portfolio of programmable analog and mixed signal power offerings.
However, the terms of the deal have been kept under wraps. Nonetheless, management intends to divulge details about the latest development in its upcoming quarterly earnings release.
Post acquisition, financials of Active-Semi will be reported under Qorvo’s Infrastructure and Defense Products (IDP) operating segment.
Active Semi is a private company primarily engaged in providing fabless analog and mixed-signal integrated circuits or ICs which can be utilized in complex motor control and power management applications.
The company anticipates concluding the buyout, awaiting customary closing conditions, as early as Jun 29, 2019. Active-Semi acquisition is projected to be accretive to non-GAAP earnings and non-GAAP gross margin within the first year.
Coming to price performance, shares of Qorvo have gained 4.8% in the past year against the Zacks Investment Research
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