Skyworks Solutions Inc., agreed to buy PMC- Sierra Inc. for $2 billion in cash, marking the second multibillion-dollar chip merger announced in the past month.

PMC shareholders will get $10.50 per share, a 37 percent premium to Monday’s close of $7.69 on the Nasdaq. The deal will add 75 cents per share to Skyworks’ earnings on an annual non- GAAP basis, it said in a statement.

Skyworks, a maker of chips used in aircraft and security systems, joins Dialog Semiconductor Plc., Intel Corp. and Avago Technologies Ltd. in buying industry colleagues. A total of 39 deals valued at $83.5 billion have been announced in the past year as the semiconductor business consolidates amid higher costs and stiffer competition, according to data compiled by Bloomberg.

PMC makes chips that control drives in network equipment, data-center storage systems and mobile-phone networks. The company reported sales declines in two of the past three years.

Buying PMC will provide $75 million in combined annual savings in the first 12 months, according to Skyworks, which also said fourth-quarter results will be “better than guidance.” Skyworks shares have risen 13 percent this year, compared with a 9.8 percent decline in the Philadelphia Stock Market Semiconductor Index.

Revenue for its fiscal fourth quarter will be about $880 million with non-GAAP diluted EPS of $1.52, it said. Analysts expected sales of $876 million with adjusted EPS of $1.51, according to data compiled by Bloomberg. The company’s guidance was $875 million and $1.51, respectively.

The deal is the fifth-largest semiconductor acquisition to be announced in the past year, behind Avago’s $29.8 billion cash and stock bid for Broadcom Corp. Half the deals tracked by Bloomberg paid a premium of 10 percent to 25 percent.

The PMC-Sierra acquisition will be financed with cash on hand from both companies as well as new, fully committed debt financing, it said. Skyworks had $1.1 billion in cash and equivalents as of July 3, while PMC had $110 million on June 27, according to data compiled by Bloomberg.

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