Onsemi has agreed to acquire Synaptics in an all-stock transaction valued at approximately $7 billion, announced June 25, 2026. Synaptics shareholders will receive 1.350 onsemi shares per share, representing a 19% premium to the 10-day volume-weighted average closing price. The deal is expected to close in mid-2027, subject to shareholder approval and regulatory clearance.
Synaptics brings to Onsemi a portfolio of edge AI compute processors, human-machine interface chips, and wireless connectivity solutions spanning Wi-Fi 6, Wi-Fi 6E, Wi-Fi 7, Bluetooth, and Thread. Onsemi CEO Hassane El-Khoury framed the acquisition as positioning the chipmaker at the intersection of 'Power, Sense, Connected Compute and Control' — the four pillars of physical AI, which the company says will expand its total addressable market by $30 billion to $243 billion by 2030.
The combination reflects a strategic pivot away from cloud-centric AI infrastructure toward on-device intelligence for automotive, industrial, and consumer applications. Market reaction was mixed: Synaptics shares rose 12% while onsemi fell 8% on concerns about the deal's execution risk and integration complexity.