Navitas Semiconductor said it will acquire Claros in a deal valued at up to about $232.8 million, a move that would add vertical power delivery and integrated voltage regulator technology to its AI infrastructure lineup.
The company said about $216.0 million will be paid at closing in a mix of cash and Navitas Class A shares, with the rest tied to business milestones over the two years after closing. In addition, certain Claros employees could receive performance-based equity worth about $28.9 million if those milestones are met.
Navitas said the acquisition would extend its power-delivery chain from the grid to the XPU, filling what it described as the last stage of power conversion for AI systems. The company said the deal would more than double its identified 2030 serviceable addressable market to over $8 billion.
That figure includes at least $3.5 billion from the VPD and IVR markets, plus Navitas’ existing $3.5 billion SAM for gallium nitride and high-voltage/ultra-high-voltage silicon carbide, and about $1 billion from new junction field-effect transistor technology.
The company said Claros would add technology and engineering capabilities in digital control, passive integration, advanced 2D/3D packaging, and mixed-signal technologies. Navitas said the acquisition also brings standalone digital and controller solutions that complement its GaN portfolio.
Navitas said the transaction is expected to close before year-end, subject to customary closing conditions and regulatory approvals. Following these announcements, the company's shares moved 3.11%, and are now trading at a price of $12.61. If you want to know more, read the company's complete 8-K report here.
