June 26, 2026 /SemiMedia/ — onsemi announced a definitive agreement to acquire Synaptics in an all-stock transaction valued at approximately $7 billion, expanding its capabilities in Edge AI, connected compute, human-machine interfaces and wireless connectivity.

Under the agreement, Synaptics shareholders will receive 1.350 shares of onsemi common stock for each Synaptics share held at closing. The exchange ratio represents an approximately 19% premium to the volume-weighted average closing prices of onsemi and Synaptics over the last 10 trading days.

The deal has been unanimously approved by the boards of both companies and is expected to close in mid-2027, subject to Synaptics shareholder approval, regulatory approvals and other customary closing conditions. Synaptics shareholders are expected to own about 12% of the combined company on a fully diluted basis after closing.

onsemi said the acquisition will accelerate its evolution toward intelligent systems by adding Synaptics’ Edge AI compute franchise, human-machine interface technologies and wireless connectivity portfolio. The company said the deal will extend its capabilities beyond power and sensing into connected compute and control.

onsemi Chief Executive Officer Hassane El-Khoury said the next phase of AI innovation will move beyond the cloud into the physical world, including automotive and industrial systems. He said Physical AI will require power, sensing, connected compute and control to work together seamlessly.

Synaptics’ Astra platform is one of the key assets in the transaction. The platform combines AI processors and neural processing units for multimodal intelligence with wireless connectivity technologies including Wi-Fi, Bluetooth and GPS, along with an open-source software stack for faster deployment.

onsemi said the combined platform will help address applications such as autonomous driving, robotics, AR/VR and industrial systems that require real-time sensing, decision-making and control.

The company expects the transaction to expand its total addressable market by $30 billion to $243 billion by 2030. onsemi said the combined portfolio will allow it to increase content per platform and deepen customer engagement with more differentiated system-level solutions.

Financially, onsemi expects the deal to be accretive to non-GAAP earnings per share within 18 months after closing. The company also expects about $200 million in annual synergies and gross margins consistent with its long-term financial model.

Synaptics Chief Executive Officer Rahul Patel said the combination will accelerate Synaptics’ growth in Edge AI and Physical AI by pairing its AI-native compute, connectivity and human-machine interface capabilities with onsemi’s strengths in intelligent power and sensing.