tech
ON Semiconductor strikes $7 billion deal for Synaptics in physical AI push
ON Semiconductor said the deal bumps up its total addressable market by $30 billion, to $243 billion by 2030.
TL;DR
- ON Semiconductor is acquiring Synaptics for nearly $7 billion in an all-stock deal.
- The acquisition aims to bolster ON Semiconductor's push into physical artificial intelligence technology.
- The deal is expected to increase ON Semiconductor's total addressable market by $30 billion to $243 billion by 2030.
- Synaptics shareholders will receive 1.350 shares of ON Semiconductor's common stock per share held.
- The acquisition is anticipated to close in the middle of 2027.
- ON Semiconductor is a major producer of silicon carbide known for power and sensing solutions in automotive and EV industries.