Overview
- Navitas signed a definitive agreement to buy Claros for up to $232.8 million, with both companies’ boards approving the transaction Tuesday and a closing expected before the end of 2026 subject to regulatory approvals.
- About $216 million will be paid at closing in a mix of cash and Navitas Class A shares, roughly $16.8 million is contingent on two‑year performance milestones, and up to $28.9 million in employee equity awards is tied to the same targets.
- Navitas said it had $557.4 million in cash as of June 30, 2026 to fund the cash portion and that the deal will not change its short‑ to mid‑term profitability timeline while Claros is expected to contribute meaningful growth in 2028–2029.
- Claros supplies vertical power delivery (VPD) and integrated voltage regulator (IVR) technology that moves final-stage voltage conversion next to the processor to cut line losses, reduce heat, and meet the fast transient current demands of AI accelerators.
- Navitas projects the acquisition will more than double its identified 2030 serviceable addressable market to over $8 billion, a shift that could tighten competition for end‑to‑end data‑center power solutions and influence investor focus on hardware revenue at scale.