Onsemi has agreed to acquire Synaptics in an all-stock transaction valued at approximately $7 billion. Synaptics shareholders will receive 1.35 Onsemi shares for each share held, representing a 19% premium over the recent volume-weighted average price.
The acquisition combines Onsemi’s power and sensing technologies with Synaptics’ expertise in edge AI processing and connectivity. Onsemi expects the move to enhance its capabilities in the physical AI sector.
The deal is scheduled to close in mid-2027, subject to regulatory and shareholder approval. Onsemi anticipates the transaction will be accretive to non-GAAP earnings per share within 18 months of closing. The company projects $200 million in annual synergies from the merger.
Following the announcement, Onsemi shares fell more than 7% in after-hours trading. Synaptics shares rose over 11% on the news.