Navitas Semiconductor agreed to acquire Claros for up to $232.8 million, with $216 million paid at closing in cash and Navitas Class A common stock. The remaining consideration will be settled in stock over a two-year period, contingent on Claros meeting specified business targets.
Claros, founded in 2024, develops vertical power supply technology and integrated voltage regulators designed for AI data centers. Its architecture places power conversion components directly beneath or within chip enclosures, reducing the distance power travels from centimeters to millimeters. The company is backed by investors including Red Cell Partners, General Catalyst, Systemiq Capital, and VIPC.
The transaction is expected to more than double Navitas' identified addressable market for 2030, increasing it beyond $8 billion. At least $3.5 billion of this expansion stems from vertical power supplies and integrated voltage regulators. Navitas, which manufactures gallium nitride and silicon carbide power semiconductors, plans to integrate Claros' technologies incrementally starting in 2028–2029 under its ongoing "Navitas 2.0" transformation strategy.
The deal was approved by the boards of both companies and is expected to close before year-end, subject to customary closing conditions and regulatory approvals. Navitas' stock closed at $12.97 on August 21, 2026. Financial advisors to Navitas include Connected Vision Advisors and Needham & Company, with legal representation provided by Cozen O'Connor. Claros received legal advisory services from DLA Piper.
