ON Semiconductor Corporation announced that the Federal Trade Commission granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act regarding its proposed acquisition of Synaptics Incorporated. The merger, originally agreed upon on June 25, 2026, involves Merger Sub merging with and into Synaptics, which will survive as a wholly owned subsidiary. Closing remains subject to customary conditions, including Synaptics stockholder approval and other regulatory clearances. The parties expect the transaction to close in mid-2027. ON Semiconductor Corporation operates in the semiconductor industry, designing and manufacturing power and signal management chips, sensors, and modules.

ON Semiconductor reported second quarter 2026 results with revenue of $1,604 million, a 9% year-over-year increase. GAAP diluted earnings per share rose to $0.56 from $0.41 in the prior year period, while non-GAAP diluted EPS reached $0.74. The company generated $425.4 million in free cash flow and repurchased $332 million of stock. Management announced plans to acquire Synaptics to expand connected compute capabilities and provided third quarter 2026 revenue guidance of $1,650 to $1,750 million. ON Semiconductor operates in the semiconductor industry, designing and manufacturing intelligent power and sensing technologies for automotive, industrial, and AI data center applications.

ON Semiconductor Corporation entered into a Merger Agreement with Synaptics Incorporated to acquire it via a merger with a wholly owned subsidiary. Synaptics stockholders will receive 1.350 shares of onsemi Common Stock for each share of Synaptics Common Stock, resulting in Synaptics equityholders owning approximately 12% of the combined company. The transaction is expected to close in mid-2027. ON Semiconductor Corporation is a semiconductor manufacturer.