onsemi has agreed to acquire Synaptics in an all-stock transaction valued at approximately 7 billion dollars, combining

onsemi and Synaptics announced on June 25, 2026 that they have entered into a definitive agreement under which onsemi will acquire Synaptics in an all-stock transaction. The total enterprise value is approximately 7 billion dollars. Synaptics shareholders will receive a fixed exchange ratio of 1.350 shares of onsemi common stock for each Synaptics share, representing an approximately 19% premium to the volume weighted average closing prices of both companies over the last 10 trading days.

The combination is designed to accelerate onsemi's evolution toward global leadership in intelligent systems. By adding Synaptics' differentiated Edge AI compute franchise and portfolio of human-machine interface and wireless connectivity solutions, onsemi expects to extend its capabilities beyond power and sensing to intelligent systems. Building on onsemi's expertise in automotive, industrial and AI data center, the combined platform is intended to position onsemi at the center of Physical AI, with the potential to expand onsemi's total addressable market by 30 billion dollars to 243 billion dollars by 2030.

Hassane El-Khoury, President and CEO of onsemi, stated: "As artificial intelligence moves beyond the cloud and into the physical world, including automotive and industrial, the next phase of innovation will depend on systems that can sense, decide, act and adapt in real time. This shift towards Physical AI will require Power, Sense, Connected Compute and Control to work together seamlessly. The addition of Synaptics helps position onsemi at the intersection of these four pillars, enabling us to capture a significantly larger AI opportunity that extends beyond AI data center and into edge applications."

Rahul Patel, Synaptics President and CEO, said: "Together with onsemi, we will combine Synaptics' strengths in AI-native compute, connectivity, and human-machine interface with onsemi's leadership in intelligent power and sensing to offer customers integrated solutions and development platforms across every layer of the Edge AI stack, deepening customer engagement and expanding across a greater total addressable market."

The Boards of Directors of both companies have unanimously approved the transaction. Synaptics shareholders will hold approximately 12% pro forma ownership on a fully diluted basis, and one member of the Synaptics Board of Directors is expected to join onsemi's Board. The transaction is expected to close in mid-2027, subject to approval by Synaptics stockholders, receipt of required regulatory approvals and other customary conditions. Morgan Stanley served as lead financial advisor to onsemi, with J.P. Morgan Securities LLC also providing advisory services and Skadden, Arps, Slate, Meagher & Flom LLP serving as legal counsel. Qatalyst Partners acted as exclusive financial advisor to Synaptics, with Baker McKenzie serving as legal counsel.