ON Semiconductor CorporationON Semiconductor agrees to acquire Synaptics in a $7 billion all-stock deal, an M&A event for the acquirer.
Synaptics has agreed to be acquired by On Semi in an all-stocks deal worth $7 billion, as disclosed in the FPA Queens Road Small Cap Value Fund's second-quarter 2026 investor letter. The fund highlighted Synaptics as a key holding, noting its development of Astra, an integrated sensing, processing, and communication solution for IoT and edge AI, which was validated by a collaboration with Google Labs in 2025. Synaptics shares closed at approximately $95.08 on August 31, 2026, giving it a market capitalization of about $3.78 billion. The fund also reported a 27.02% return for the first half of 2026, outperforming its benchmark indices, and trimmed appreciated technology holdings during the AI-driven rally.
ON Semiconductor CorporationON Semiconductor agrees to acquire Synaptics in a $7 billion all-stock deal, an M&A event for the acquirer.
Synaptics IncorporatedSynaptics agreed to be acquired by ON Semi in a $7 billion all-stock deal.