ON Semiconductor Corp. (NASDAQ:ON) and Synaptics Inc. (NASDAQ:SYNA) on Thursday announced a definitive agreement to combine their businesses, outlining expected strategic and financial impacts of the transaction.
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Deal Details
ON Semi will acquire Synaptics in an all-stock transaction, representing a total enterprise value of approximately $7 billion. The transaction value reflects a fixed exchange ratio of 1.350 shares of ON Semi common stock for each Synaptics share and represents an approximately 19% premium to the volume-weighted average closing prices of ON Semi and Synaptics over the past 10 trading days.
The companies stated the combination would expand ON Semi’s capabilities across AI infrastructure and extend into edge-based applications.
