onsemi to Acquire Synaptics in $7 Billion All-Stock Deal for Physical AI Expansion

onsemi and Synaptics announced a definitive agreement under which onsemi will acquire Synaptics in an all-stock transaction valued at approximately $7 billion in enterprise value. The deal uses a fixed exchange ratio of 1.350 shares of onsemi common stock for each Synaptics share, reflecting an approximately 19% premium to the volume weighted average closing prices of both companies over the last 10 trading days.

The transaction would increase onsemi’s total addressable market by $30 billion, reaching $243 billion by 2030. It aims to accelerate onsemi’s shift toward intelligent systems by combining its strengths in power and sensing with Synaptics’ Edge AI compute, human-machine interface, and wireless connectivity solutions. The combined entity would focus on the four pillars of Physical AI Power, Sense, Connected Compute, and Control enabling systems that sense, decide, act, and adapt in the physical world.

The acquisition extends onsemi’s presence from AI data centers into edge applications across automotive, industrial, and other markets, including autonomous driving, robotics, and AR/VR. Synaptics contributes its Astra platform, which includes purpose-built AI processors and NPUs for multimodal intelligence, along with Wi-Fi, Bluetooth, GPS connectivity, and an open-source software stack.

Hassane El-Khoury, President and CEO ...