Starboard Value

Qorvo, Inc. is a technology company that specializes in developing and commercializing advanced solutions for wireless and wired connectivity globally. Founded in 1957 and headquartered in Greensboro, North Carolina, Qorvo operates through two primary segments: Mobile Products and Infrastructure and Defense Products. The company offers a diverse range of integrated modules, including switches, power amplifiers, filters, duplexers, and antenna tuners, as well as advanced solutions such as UWB system technologies and power management systems. Qorvo serves various markets, including mobile devices, wireless base stations, and defense applications, providing products that enable secure communication and efficient power usage. The company markets its offerings directly to original equipment manufacturers and original design manufacturers, supplemented by a network of sales representatives and distributors. Qorvo emerged from the merger of RF Micro Devices and TriQuint Semiconductor in 2015, establishing itself as a leader in radio frequency solutions.

Founded in 1993, Healthcare Realty Trust is a real estate investment trust (REIT) specializing in owning, managing, and developing medical office buildings and outpatient facilities across the United States. The company maintains a conservative risk profile with a portfolio primarily focused on these healthcare-related properties.

Kenvue is a consumer health company that delivers personal health solutions. The company's brands have helped generations take care of themselves and their loved ones for more than 135 years.

Founded in 1849, Pfizer is a global pharmaceutical company dedicated to discovering and developing safe, effective, and affordable medicines. With a broad portfolio across various therapeutic areas, Pfizer focuses on wellness, prevention, treatment, and cures for diseases, including investments in emerging technologies to shape the future of healthcare.

Match Group is a leading global provider of online dating products, operating a portfolio of brands that spans Tinder, Match, Meetic, OkCupid, OurTime and others, serving users in more than 200 countries and dozens of languages via desktop and mobile platforms. The company generates revenue from subscriptions, transactional services and advertising, with offerings tailored to different communities and markets to foster connections across varied demographics and relationship preferences. Its brands cover a broad spectrum of dating experiences, and the group supports a sizable and active user base worldwide through continuous product development and international expansion.

Bloomin' Brands, Inc. is a prominent player in the casual dining sector, operating a diverse portfolio of restaurants in the United States and internationally. The company owns and operates four main restaurant concepts: Outback Steakhouse, a casual steakhouse; Carrabba’s Italian Grill, an Italian restaurant; Bonefish Grill, which offers upscale casual seafood dining; and Fleming’s Prime Steakhouse & Wine Bar, a contemporary steakhouse. As of late 2019, Bloomin' Brands managed approximately 1,045 restaurants in the U.S. and 128 internationally, with a significant presence in 21 countries, Puerto Rico, and Guam. The company's workforce consists of around 91,000 team members. Bloomin' Brands was incorporated in 2006 and is headquartered in Tampa, Florida.

Ritchie Bros is the world's largest auctioneer of used construction and farm equipment. The company specializes in the appraisal, sale, inspection, refurbishment, shipping, and financing of heavy machinery and trucks. Ritchie Bros conducts hundreds of unreserved public auctions annually, attracting both on-site and online bidders. With over 40 auction sites globally, it facilitates a wide reach for buyers and sellers in the equipment market.

Vertiv specializes in mission-critical infrastructure technologies for data centers, communication networks, and commercial environments worldwide. It offers power management, thermal management, integrated rack systems, modular solutions, and management systems, serving industries such as finance, healthcare, transportation, and government.

Salesforce is a leading cloud-based software company that provides customer relationship management (CRM) solutions and applications. Founded in 1999, it offers a range of enterprise software products focused on sales, marketing automation, customer service, e-commerce, analytics, and application development. Salesforce operates as a social enterprise, donating and discounting its technologies to nonprofits and educational institutions through Salesforce Foundation.

Founded in 2004, Splunk is a San Francisco-based company specializing in operational intelligence software. It monitors, reports, and analyzes real-time machine data for security, IT, and business operations across various industries such as manufacturing, retail, and financial services.

Wix is a cloud-based platform that enables users to create and manage websites without requiring extensive technical skills. Catering to millions of registered users globally, Wix offers a freemium model with three main web editors: the Wix Editor for users with basic skills, Wix ADI for novices, and Wix Code for more advanced users. The platform is built on HTML5 technology, providing tools for web design, layout, domain hosting, and various marketing applications. Wix's services allow individuals and businesses to easily build custom websites, promote their brands, and engage in e-commerce, making it accessible for users across different skill levels and industries. The company's geographic reach includes North America, Europe, Latin America, Asia, and other regions.

GoDaddy is a technology company that enables small businesses to establish and manage an online presence. It provides domain registration and management, website hosting and builders, SSL certificates, security tools, and a range of eCommerce and business productivity solutions. The company operates as an ICANN-accredited domain registrar and offers domain registry services alongside hosting and related products. It targets micro and small businesses, website design professionals, registrar peers, and domain investors. Since acquiring the payment platform Poynt in 2021, GoDaddy has expanded into omnichannel commerce, offering online payment gateways and offline point-of-sale devices. Its broad portfolio supports customers in registering, renewing, and managing domains, building and securing websites, and conducting commerce online.

Founded in 1828, Willis Towers Watson is a global advisory firm headquartered in London. It provides risk management solutions, including insurance broking, reinsurance, cyber risk management, mergers and acquisitions support, and employee benefits consulting.

Merit Medical Systems is a medical device manufacturer specializing in products for interventional cardiology and radiology procedures. Its primary offerings include inflation devices used in angioplasty and stent placement, diagnostic and therapeutic catheters for various cardiology and radiology procedures.

CVS Health is a leading healthcare company offering pharmacy services, health insurance, and wellness solutions. With over 9,000 retail pharmacies nationwide, it provides prescription drug coverage and affordable healthcare access to millions of customers. CVS Health also operates as a top-tier health insurer serving approximately 27 million medical members through its subsidiary Aetna.

Founded in 1984, Papa John's is a global pizza delivery and carryout restaurant chain, operating predominantly through franchises. As of 2024, it has over 6,000 locations across nearly 50 countries. The company generates revenue from franchise royalties, sales at company-owned stores, and commissary supply chain.

Dollar Tree operates discount retail stores offering a wide range of merchandise at affordable prices. Its product categories include consumables like food and health & beauty items, variety goods such as toys and homewares, and seasonal products. With over 15,000 stores across the U.S. and Canada, Dollar Tree focuses on well-populated suburban markets.

Symantec is a comprehensive security software suite developed by Broadcom Inc., offering anti-malware, anti-intrusion, and firewall features for both server and desktop computers. It functions as a website certification service provider, assisting organizations, governments, and individuals in safeguarding sensitive data from advanced threats across endpoints, cloud environments, and infrastructure. Symantec's solutions are designed to meet the evolving cybersecurity challenges of a complex digital landscape. Following the sale of its enterprise security business to Broadcom in 2019, NortonLifeLock, a global leader in consumer Cyber Safety, continues to play a vital role in enhancing online security for approximately 50 million consumers by securing devices, identities, and online privacy.

Mellanox Technologies is a manufacturer and supplier of semiconductor-based connectivity solutions that enhance data center performance. Founded in 1999 and headquartered in Sunnyvale, California, and Yokneam, Israel, the company specializes in developing and providing end-to-end Ethernet and InfiniBand interconnect solutions for servers, storage, and hyper-converged infrastructure. Mellanox products are designed to deliver high bandwidth, scalability, and power efficiency while consolidating multiple legacy network technologies into a unified, future-proof solution. Its offerings are favored by Fortune 500 data centers and are integral to some of the world's most powerful supercomputers, enabling faster data transmission and unlocking system performance.

Perrigo Company plc is a prominent global healthcare supplier that specializes in the development, manufacture, and distribution of over-the-counter (OTC) and prescription pharmaceuticals, nutritional products, and active pharmaceutical ingredients. As the largest manufacturer of OTC pharmaceutical products for the store brand market, Perrigo has established itself as a leader in consumer health. The company has shifted its focus to consumer self-care since divesting its animal health and generic pharmaceuticals businesses in 2018. A significant portion of its sales is generated in North America, where it provides private-label consumer health goods to major retailers such as Walmart, Amazon, Costco, and CVS. Additionally, Perrigo operates in Europe, Australia, and parts of Asia, marketing national brands like Compeed, Solpadeine, Coldrex, and ellaOne. With a diverse product portfolio and a commitment to innovation, Perrigo serves customers worldwide.