Onsemi Announces $600 Million Cash Acquisition of Ferric to Boost AI Data Center Revenue
Onsemi (ON) has entered into a definitive agreement to acquire chip startup Ferric for $600 million in cash. The acquisition is strategically designed to accelerate Onsemi's expansion within the artificial intelligence sector, specifically targeting growth in AI data center applications. The deal includes provisions for up to $175 million in contingent consideration based on the achievement of specific performance milestones. Following the announcement, Onsemi raised its long-term revenue targets for its AI data center business through 2030, signaling strong confidence in its integration strategy and market positioning.