Qorvo, Inc. [NASDAQ: QRVO] disclosed that it has bought Mountain View, California-based NextInput. NextInput is an innovator in the evolving field of force-sensing solutions for human-machine interface (HMI). NextInput has distributed tens of millions of MEMS-based sensors to the world's largest manufacturers of smartphones, wearables, automobiles, and other applications.
This acquisition is beneficial for the firm as it grows Qorvo’s technology portfolio and allows Qorvo to speed up the implementation of force-sensing solutions using MEMS-based sensors. NextInput will become a part of Mobile Products of QRVO and will be directed by NextInput CEO and Founder Ali Foughi. The firm has not disclosed the terms of the agreement.
Shares of Qorvo soared 0.68% as it gained +1.24 at $183.80 during the pre-market trading session of Thursday. The firm has reported the 52-weeks low and high range of $93.31 and $201.68, respectively. The shares of the firm moved up 95.65% from its 52-week low and moved down to -9.48% from its 52-week low. Qorvo market capitalization stood at $21.93 billion at the time of writing.
Qorvo disclosed that the competent team of NextInput is the greatest addition to the team of Mobile Product Business. NextInput will improve the technology and product leadership of Qorvo while offering new chances in next-generation human-machine interface solutions. QRVO is endeavoring to fulfill the mission to modernize and transform the touch experience with the world's greatest sensing solutions.