onsemi said it will acquire Synaptics in an all-stock deal valued at about $7 billion, giving Synaptics holders 1.350 onsemi shares for each Synaptics share.
The companies said the exchange ratio implies about a 19% premium to the volume-weighted average closing prices of the two stocks over the last 10 trading days. Synaptics shareholders would own about 12% of the combined company on a fully diluted basis.
onsemi said the deal would lift its total addressable market by $30 billion, to $243 billion by 2030. The company said the combination should be accretive to non-GAAP EPS within 18 months of closing and generate $200 million in annual synergies.
The acquisition is aimed at expanding onsemi from power and sensing into connected compute and control, adding Synaptics’ edge AI compute, human-machine interface and wireless connectivity businesses. onsemi said the deal positions it across the four pillars of physical AI: power, sense, connected compute and control.
The transaction has been approved by both boards. One Synaptics board member is expected to join onsemi’s board at closing. The companies said they expect the deal to close in mid-2027, subject to Synaptics shareholder approval and regulatory clearances.
onsemi also reiterated its second-quarter fiscal 2026 outlook, and Synaptics reiterated its fiscal fourth-quarter 2026 outlook. Today the company's shares have moved 0.97% to a price of $126.84. Check out the company's full 8-K submission here.
