Onsemi stock fell Friday after the chipmaker announced a deal to buy Synaptics in an all-stock transaction worth $7 billion.
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ON Semiconductor has agreed to buy internet-of-things company Synaptics as it vies to bring artificial-intelligence from data centers into the physical world. Synaptics shareholders will receive 1.35 shares of Onsemi stock for each Synaptics share in the all-stock deal, representing an enterprise value of around $7 billion. Onsemi stock dropped 14% to $102.35 in premarket trading Friday.
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ON Semiconductor has agreed to buy internet-of-things company Synaptics as it vies to bring artificial-intelligence from data centers into the physical world. Synaptics shareholders will receive 1.35 shares of Onsemi stock for each Synaptics share in the all-stock deal, representing an enterprise value of around $7 billion. Onsemi stock dropped 8.3% to $108.85 in after-hours trading Thursday.
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Investing.com -- Chipmaker onsemi will acquire Synaptics in an all-stock transaction valued at approximately $7 billion, a deal aimed at expanding its presence in artificial intelligence-driven intelligent systems and strengthening its position in emerging Physical AI applications.
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