ON Semiconductor Corp. has entered into an agreement to acquire New York-based Ferric Inc. in a deal that could exceed $600 million as the Scottsdale-based company projects to more than double its AI data center revenue this year.
ON Semiconductor, which does business as Onsemi, on Monday announced plans to acquire Ferric for $600 million in cash, plus up to $175 million in additional cash consideration contingent upon revenue milestones, according to the company.
Onsemi said the acquisition further enhances its portfolio “from grid to core” by adding Ferric’s integrated voltage regulator technologies for next-generation AI processors.
