India, June 25 -- onsemi (ON) Thursday said it has agreed to buy Synaptics Inc. (SYNA) in an all-stock transaction valued at about $7 billion.
Under the terms of the agreement, Synaptics shareholders will receive 1.35 shares of onsemi common stock for each Synaptics share, representing an approximately 19% premium to the companies' combined 10-day volume-weighted average closing prices. Following the transaction, Synaptics shareholders are expected to own about 12% of the combined company.
The acquisition adds Synaptics' edge AI computing, wireless connectivity and human-machine interface technologies to onsemi's power and sensing portfolio, positioning the combined company to deliver integrated solutions for automotive, industrial, AI da...