# ON Semiconductor Buys Synaptics, Stock Drops 20% > Source: > Published: 2026-06-26 15:39:01+00:00 CNBC reports **ON Semiconductor** announced an all-stock acquisition of **Synaptics**, broadening its push into physical AI. CNBC reports the company said the deal increases its addressable market by an additional **$30 billion**, to **$243 billion by 2030**, and that the transaction is expected to close in **mid-2027**. CNBC quotes CEO Hassane El-Khoury saying the acquisition is "complementary to everything we have done on a very strong foundation," and that the deal opens new markets including an AI-centric compute platform. CNBC reports ON Semiconductor expects to generate **$200 million** in annual synergies within 18 months. Market reaction was sharp: CNBC reports the stock fell about **20%** after the announcement. Stocktitan reports the transaction values Synaptics at roughly **$7 billion** with an exchange ratio of **1.350 ON shares per SYNA share**, about a **19% premium**.