Onsemi to acquire Synaptics in all-stock deal valued at about $7 billion

Onsemi said it will acquire Synaptics in an all-stock transaction valued at about $7 billion, though some market coverage described the deal at about $6.2 billion, combining Onsemi's power management and sensor chips with Synaptics' edge AI processors, wireless connectivity and human-machine interface technology. Synaptics shareholders will receive 1.350 Onsemi shares per share, a ratio the companies said represents an almost 19% premium based on the volume-weighted average closing prices of both stocks over the last 10 trading days, and they are expected to own about 12% of the combined company on a fully diluted basis. Onsemi said the deal would expand its exposure to physical AI, add an estimated $30 billion to its total addressable market and lift that figure to $243 billion by 2030. After the announcement, Onsemi shares fell roughly 20%, while other U.S. semiconductor-related stocks also moved lower. The company said it expects the transaction to close by mid-2027 and generate $200 million in annual synergies within 18 months.