ON Semi Acquires Synaptics
ON Semi acquires Synaptics in an all-stock deal valued at approximately $7 billion enterprise value
Synaptics stockholders will receive 1.350 onsemi shares per share, implying pro forma ownership of ~12% for Synaptics stockholders on a fully diluted basis; deal value represents ~19% premium to the 10-day VWAP of onsemi and Synaptics. - - Deal is expected to close in mid-2027, subject to Synaptics stockholder approval, required regulatory approvals and other customary conditions; one Synaptics board member is expected to join onsemi's board. - - Transaction is expected to be accretive to non-GAAP EPS within 18 months of closing, with expected $200M in annual synergies; onsemi said the deal could expand its TAM by $30B to $243B by 2030.