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

Onsemi, a major manufacturer of power and sensing semiconductors, has agreed to acquire Synaptics, a specialist in human interface and connectivity chips, in an all-stock transaction valued at approximately $7 billion. The boards of both companies unanimously approved the deal, which was announced on Thursday, June 25, 2026. The acquisition is positioned as a strategic move to create a comprehensive platform for "Physical AI," aiming to embed intelligence into devices like cars, robots, and industrial equipment.

Under the terms of the agreement, each Synaptics shareholder will receive 1.35 shares of Onsemi common stock for each share they own. Based on the average share prices over the previous ten trading days, this represents a premium of approximately 19% for Synaptics investors, who will hold about 12% of the combined company. One Synaptics director is expected to join Onsemi's board.

The merger is designed to combine complementary portfolios. Onsemi, based in Scottsdale, Arizona, is a leader in power management and sensing chips used in automotive, industrial, and data center applications. Synaptics, headquartered in San Jose, California, provides compute, connectivity, and...