Qorvo to sell assembly and test facilities in Beijing, Dezhou to Luxshare

Qorvo announced that it has reached a definitive agreement with Luxshare Precision, an advanced contract manufacturer, under which Luxshare will acquire Qorvo’s assembly and test facilities in Beijing and Dezhou, China. The companies anticipate completing the transaction by the first half of calendar 2024, subject to receipt of regulatory approvals and the satisfaction or waiver of other closing conditions. Upon closing, Luxshare will acquire each facility’s operations and assets, which include the property, plant and equipment, as well as the existing workforce, to enable continuity of operations. Qorvo will continue to maintain its sales, engineering and customer support employees in China to continue serving customers. Following the close of the transaction, Luxshare will assemble and test products for Qorvo under a newly established long-term supply agreement. The Beijing and Dezhou facilities primarily support Qorvo’s highly integrated advanced cellular products. Luxshare is a trusted supplier to many of the world’s leading electronics companies and will provide seamless and flexible access to production capacity while expanding its offerings and capabilities.