Apple Suppliers Skyworks, Qorvo Combine Amid Shift to Own Chips

Skyworks Solutions Inc. has agreed to buy Qorvo Inc. in a cash and stock deal, a move that merges two key Apple suppliers as the iPhone maker moves to in-house replacements.

The deal values the combined company at about $22 billion. Qorvo investors will get $32.50 in cash as well as 0.96 of Skyworks stock for every share, Skyworks said in a statement on Tuesday. Based on Monday’s closing prices, that values Qorvo’s shares at about $105.31 apiece.

The combined effort comes as Apple increasingly seeks to replace third-party chips in its devices with homegrown components. In recent years, the ...