Update: Navitas Semiconductor to Buy Claros in $232.8 Million Deal; Shares Rise
(Updates with the latest stock movement in the first paragraph and headline.)Navitas Semiconductor (NVTS) shares were up 4.9% in Tuesday trading after the company said Monday it has agreed to acquire power management technology firm Claros in a deal valued at up to about $232.8 million.The consideration includes $216 million in cash and stock at closing, while the remainder will be paid in stock based on the achievement of certain milestones.The company said the acquisition would more than double its 2030 serviceable addressable market to over $8 billion and accelerate revenue growth and margin expansion.The deal is expected to close before the end of the year, subject to customary closing conditions.Price: $12.80, Change: $+0.57, Percent Change: +4.66%
