Qorvo to Acquire Active-Semi International

Acquisition Adds Highly Differentiated Analog/Mixed Signal Power Solutions for Complementary, High-Growth Applications

Greensboro, NC, -- April 10, 2019 – Qorvo^®, Inc. (Nasdaq:QRVO), a leading provider of innovative RF solutions that connect the world, announced today that it has entered into a definitive agreement to acquire Active-Semi International, Inc. (“Active-Semi”), a private fabless supplier of programmable analog power solutions. Active-Semi will become part of Qorvo’s Infrastructure and Defense Products (IDP) group. Active-Semi’s technologies are positioned to intersect multiple long-term secular trends in 5G, industrial, data center, automotive and smart home by addressing the increased demand for efficient power solutions.

Bob Bruggeworth, president and chief executive officer of Qorvo, said, “With the acquisition of Active-Semi, Qorvo will expand IDP’s product offerings for existing customers and extend our reach into new high-growth power management markets. We see significant opportunities to accelerate adoption of Active-Semi’s innovative analog/mixed signal solutions across multiple markets by leveraging Qorvo’s global scale, sales channel and customer relationships.”

Power efficiency is increasingly a core requirement in electronic applications in IDP’s existing markets, including 5G base stations, active phased arrays for defense, automotive, and IoT. Active-Semi’s programmable mixed signal power solutions provide customers with compelling simplicity, efficiency and design flexibility – resulting in smaller footprints, lower bill of material costs and reduced time to market.

Larry Blackledge, CEO of Active-Semi, said, “The combination of Active-Semi’s programmable analog power solutions with Qorvo’s leading product and technology portfolio opens up vast opportunities to accelerate revenue, develop more highly integrated system solutions and target new high-growth markets, like 5G infrastructure.”

Qorvo expects the acquisition to be accretive to non-GAAP gross margin and non-GAAP EPS in the first year. The acquisition is subject to regulatory approval and customary closing conditions and is expected to close in Qorvo’s first fiscal quarter, ending June 29, 2019. Qorvo will provide additional details about the Active-Semi transaction during its fiscal 2019 fourth quarter earnings conference call, scheduled for May 7, 2019.

About Qorvo
Qorvo (Nasdaq:QRVO) makes a better world possible by providing innovative Radio Frequency (RF) solutions at the center of connectivity. We combine product and technology leadership, systems-level expertise and global manufacturing scale to quickly solve our customers' most complex technical challenges. Qorvo serves diverse high-growth segments of large global markets, including advanced wireless devices, wired and wireless networks and defense radar and communications. We also leverage unique competitive strengths to advance 5G networks, cloud computing, the Internet of Things, and other emerging applications that expand the global framework interconnecting people, places and things. Visit www.qorvo.com to learn how Qorvo connects the world.

About Active-Semi International, Inc.
Founded in Silicon Valley with 141 employees worldwide, and headquartered in the Dallas, Texas metroplex, Active-Semi is an emerging leader in the multi-billion-dollar power management and intelligent motor drive IC markets. The company’s portfolio of analog and mixed signal SoCs provide scalable core platforms used in charging, powering and embedded digital control systems for industrial, commercial and consumer applications. Active-Semi offers Power Application Controllers® (PAC®) and Programmable Analog ICs that significantly reduce solution size and cost, improve system reliability, and shorten system development time.

Active-Semi International, Inc. is a multi-national Cayman Island corporation backed by leading Venture Capital firms, including USVP, Tenaya Capital, and LDV Partners, with over 170 patents granted and pending.