onsemi agrees to buy Ferric for US$600 million plus contingent payments

onsemi announced an agreement on November 2 to acquire power-technology company Ferric for US$600 million in cash, plus up to US$175 million tied to revenue milestones. The deal is not yet completed.

Closing is expected by the end of 2026, subject to customary conditions. Approximately 50 Ferric employees, mainly in New York and Silicon Valley, are expected to join onsemi.

The company also raised its 2030 AI data-centre revenue target by US$500 million to more than US$3 billion. This is a future target, not current revenue.