ON Semiconductor Corp.
(NASDAQ:ON) stock fell Friday after the company announced a definitive agreement to acquire Synaptics Incorporated (NASDAQ:SYNA) in an all-stock deal with an enterprise value of about $7 billion.
Under the agreement, Synaptics shareholders will receive 1.350 ON Semiconductor shares for each Synaptics share.
The offer represents a roughly 19% premium based on the companies' 10-day volume-weighted average closing prices.
ON Semiconductor Targets Physical AI Growth The acquisition is expected to strengthen ON Semiconductor's intelligent systems portfolio by combining its power and sensing technologies with Synaptics' Edge AI computing, wireless connectivity and human-machine interface solutions.
