Navitas Semiconductor agreed to acquire power management company Claros for up to $232.8 million, with $216 million in cash and stock paid at closing and the remainder contingent on business milestones over two years.
The acquisition, priced using Navitas' Class A common stock at $12.97 per share as of August 21, 2026, is expected to close before year-end subject to customary conditions and regulatory approvals.
Claros develops vertical power delivery and integrated voltage regulator technology for AI data centers, adding at least $3.5 billion to Navitas' identified 2030 serviceable addressable market, which is projected to exceed $8 billion after the deal. Claros' technologies are expected to contribute incremental growth from 2028–2029 onward.
Navitas, which manufactures gallium nitride and silicon carbide power semiconductors, said its current financial model and Navitas 2.0 transformation strategy remain unchanged. The acquisition extends Navitas' AI infrastructure portfolio to include power delivery solutions for processors used in artificial intelligence systems.
Claros was founded in 2024 and backed by Red Cell Partners, General Catalyst, Systemiq Capital, and VIPC. Financial advisors for Navitas included Connected Vision Advisors and Needham & Company, while legal counsel was provided by Cozen O'Connor for Navitas and DLA Piper for Claros.
