Qorvo sells Beijing and Dezhou assembly/test facilities to Luxshare; close expected H1 2024

Qorvo, Inc.

Luxshare to acquire Qorvo's assembly and test facilities in Beijing and Dezhou, China (terms undisclosed).
Transaction expected to close in first half of calendar 2024, subject to regulatory approvals.
Post-close, Luxshare to assemble and test products for Qorvo under a long-term supply agreement.
Qorvo retains sales, engineering, and customer support employees in China; CFO says deal reduces capital intensity.

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