Why Navitas Semiconductor Stock Is Up Today
An intriguing acquisition could double the market opportunity for the power chip leader.
Overview
Shares of Navitas Semiconductor (NASDAQ: NVTS) rose on Tuesday after the designer of next-generation power chips struck a deal to acquire Claros, a provider of innovative energy management solutions for artificial intelligence (AI) data centers.
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Navitas is offering to purchase Claros for up to $232.8 million, with $216 million paid at closing in cash and stock, and the remainder paid if certain business milestones are achieved.
Details
Source
Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.