Navitas Semiconductor Corp shares advanced 6% in premarket trading on Tuesday after the company agreed to acquire Claros Inc. for up to $232.8 million.
The transaction, valued at approximately $216 million in cash and stock at Navitas' closing share price of $12.97 on August 21, will include milestone payments in shares over the two years following closing. The deal is expected to close before year-end, subject to customary conditions and regulatory approvals.
Claros develops vertical power delivery and integrated voltage regulator technology designed for AI data centers. Navitas projects the acquisition will more than double its identified 2030 serviceable addressable market to over $8 billion, adding at least $3.5 billion from the VPD and IVR segments.
The acquisition aligns with Navitas' strategy to extend its AI infrastructure portfolio "from the grid to the xPU," integrating Claros' power conversion technology directly beneath or inside chip packages. This reduces power travel distance from inches to millimeters, enhancing efficiency for high-current, high-speed processors. The combined portfolio will merge Claros' capabilities in digital control, passive integration, and advanced packaging with Navitas' existing GaN, high-voltage, and ultra-high voltage SiC technologies.
Both companies' boards have unanimously approved the deal, and Navitas stated its path toward profitability remains unchanged. The transaction reflects growing investment in AI infrastructure, particularly in power management solutions tailored for data center applications.
