onsemi to Buy Synaptics for $7 Billion in Physical AI Push

onsemi specializes in power-management and sensing chips, while Synaptics has a strong presence in touch technology, biometrics, connectivity and edge computing. Combining the companies could integrate sensing, computing, connectivity and power into a “physical AI” platform, helping onsemi expand beyond automotive and industrial markets into robotics, smart devices and edge AI while broadening its software ecosystem.

onsemi and Synaptics signed a merger agreement on June 25, 2026, valuing the all-stock transaction at an enterprise value of about $7 billion. It is onsemi's largest acquisition to date. Each Synaptics share will be exchanged for 1.35 onsemi shares, with existing onsemi and Synaptics shareholders expected to own 88% and 12% of the combined company, respectively. The deal remains subject to shareholder and regulatory approvals and is expected to close in mid-2027. onsemi shares fell in after-hours trading following the announcement.