ON Semiconductor to acquire Synaptics for $7B in all-stock deal, expanding into Physical AI

Filed June 25, 2026 · Period ending June 25, 2026 · ~2 min read

Key Changes

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  ON Semi agreed to acquire Synaptics for ~$7B in stock (1.350 ON shares per SYNA share, 19% premium to 10-day VWAP). Synaptics holders will own ~12% of combined company. Deal expected to close mid-2027 pending shareholder and regulatory approvals.

  Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR →
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  Acquisition aims to position ON at center of Physical AI by adding Synaptics' Edge AI compute, wireless connectivity, and human-machine interface capabilities. Expected to expand ON's addressable market by $30B to $243B by 2030.

  Exhibit 99.1 verify on EDGAR →
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  Transaction expected accretive to non-GAAP EPS within 18 months of close, with $200M annual synergies and gross margins consistent with ON's long-term model. ON will maintain existing capital return policy during pendency.

  Exhibit 99.1 verify on EDGAR →