Navitas to acquire Claros for up to $232.8 million

Navitas Semiconductor Corporation (NASDAQ:NVTS) has agreed to acquire Claros, Inc., a power management solutions company, in a deal valued at up to approximately $232.8 million. The purchase price will be paid primarily through a mix of cash and Navitas Class A common stock at closing, with additional payments contingent on meeting business milestones over the following two years.

Claros, founded in 2024 and backed by notable venture capital firms, specializes in vertical power delivery and integrated voltage regulator technology for AI data centers. This acquisition is expected to expand Navitas' market potential, increasing its addressable market for 2030 to over $8 billion from the current $3.5 billion.

By combining Claros' vertical power delivery and integrated voltage regulator technologies with Navitas' GaN and high-voltage SiC portfolio, the companies aim to address the challenges in AI infrastructure power consumption. Both Navitas and Claros have received board approval, and the transaction is anticipated to close before the year-end, pending regulatory approvals.

The legal advisors for Navitas and Claros were Connected Vision Advisors, Needham & Company, Cozen O’Connor, and DLA Piper respectively.