Synaptics to be Acquired by onsemi in $7B All-Stock Merger

Synaptics Incorporated has entered into a definitive agreement to be acquired by ON Semiconductor Corporation (onsemi) in an all-stock transaction valued at approximately $7 billion. Under the terms, Synaptics shareholders will receive 1.350 shares of onsemi common stock for each Synaptics share, representing a 19% premium. This merger aims to accelerate onsemi's evolution into intelligent systems, expanding its capabilities beyond power and sensing into Edge AI compute, human-machine interface, and wireless connectivity solutions, thereby increasing its total addressable market by $30 billion to $243 billion by 2030. The transaction is expected to be accretive to non-GAAP EPS within 18 months of closing, with $200 million in annual synergies, and is anticipated to close in mid-2027.