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00:02On Semiconductor agreed to buy Synaptics in a nearly $7 billion all-stock deal
00:07as it pushes further into physical artificial intelligence technology, according to CNBC.
00:12The company said the acquisition would increase its total addressable market by $30 billion
00:17to $243 billion by 2030 and strengthen its Intelligent Systems portfolio.
00:24On Semiconductor said Synaptics shareholders will receive 1.350 shares of On Semiconductor
00:29common stock for each share held.
00:31The deal is expected to close in mid-2027.
00:34On Semiconductor will also add a Synaptics board member.
00:37Shares of On Semiconductor fell about 6% after the bell, while Synaptics shares rallied about 13%.
00:42The deal comes as technology companies pursue acquisitions to expand AI capabilities.
00:48For all things money, visit Benzinga.com.
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