Via globenewswire.com
The semiconductor company's deal for Claros targets a serviceable addressable market exceeding $8 billion by 2030, doubling its current opportunity in AI data center power management.
Navitas Semiconductor has agreed to acquire Claros Inc. for up to approximately $232.8 million, a deal designed to position the chipmaker as a dominant force in powering AI data centers from the electrical grid all the way down to the processor. The transaction, announced on August 24, would more than double Navitas’ serviceable addressable market if the integration goes according to plan.
Navitas already makes gallium nitride (GaN) and silicon carbide (SiC) chips that handle power conversion. Claros specializes in the last stretch of power delivery, the voltage regulation and power distribution technologies that sit right next to the AI processors doing the actual computation. Combine them, and you get a company that can offer what Navitas calls a “grid-to-xPU” power platform.
Deal structure and timeline #
The acquisition breaks down into two pieces. About $216 million is payable at closing through a combination of cash and Navitas shares. The remaining balance, up to roughly $16.8 million, hinges on performance milestones that will play out over the next two years.
Select continuing employees from Claros will be eligible for approximately $28.9 million in performance-based stock compensation, tied to those same milestones. The deal is expected to close before the end of 2026, pending the usual regulatory and customary conditions.
The $8 billion market opportunity #
Post-acquisition, Navitas projects its serviceable addressable market will exceed $8 billion by 2030. Of that total, at least $3.5 billion is expected to come specifically from Claros’ voltage power delivery (VPD) and integrated voltage regulator (IVR) technologies. Those are the components that manage the final stage of power conversion before electricity hits an AI accelerator chip.
Navitas is essentially arguing that its combined portfolio will address power needs at every stage of the chain. GaN technology handles high-frequency power conversion efficiently. SiC is better suited for high-voltage applications. And Claros’ VPD and IVR solutions handle the granular voltage regulation that modern AI processors demand.
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