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ON Semiconductor Joins ‘Edge AI’ Market With $7 Billion Acquisition. The Stock Falls.ON Semiconductor has agreed to buy internet-of-things company Synaptics as it vies to bring artificial-intelligence from data centers into the physical world. Synaptics shareholders will receive 1.35 shares of Onsemi stock for each Synaptics share in the all-stock deal, representing an enterprise value of around $7 billion. Onsemi stock dropped 8.3% to $108.85 in after-hours trading Thursday.