On Semiconductor Acquires Synaptics in $7 Billion All-Stock Deal for Physical AI Push

According to CNBC, On Semiconductor agreed to acquire Synaptics this week in a $7 billion all-stock deal to strengthen its physical artificial intelligence capabilities. The Arizona-based chipmaker said the acquisition will boost its total addressable market by $30 billion to $243 billion by 2030 and expand its intelligent systems portfolio. It marks On Semi's largest deal to date.

Shares of On Semiconductor fell about 6% after hours, while Synaptics rallied approximately 13%. The transaction is expected to close in mid-2027, with Synaptics shareholders receiving 1.350 shares of On Semiconductor per share held.