Synaptics Incorporated shares surged 12.6% in after-hours trading, closing at $141 per share.

Previously, ON Semiconductor announced that it had reached an agreement to acquire Synaptics in an all-cash transaction valued at approximately $7 billion. This deal is expected to significantly enhance ON Semiconductor's portfolio of analog and sensing solutions in the automotive and industrial semiconductor markets. Market analysts believe the acquisition premium is notable, reflecting Synaptics' core technology and market positioning value in the human-machine interface solutions field. Upon completion of the transaction, Synaptics will become a wholly owned subsidiary of ON Semiconductor.