Navitas to acquire Claros for up to $232.8M, expanding AI power delivery

Navitas Semiconductor Corp

Deal valued up to $232.8M: ~$126.4M cash, ~$89.7M in ~6.9M shares, ~$16.7M earnout in shares.
Claros brings VPD and IVR technology for AI data centers; expected to double Navitas' 2030 SAM to over $8B.
Transaction approved by both boards; expected to close before Dec 31, 2026, subject to HSR clearance.
Additional ~$28.9M in performance stock units for continuing Claros employees based on milestones.
Reference share price $12.97 (Aug 21, 2026); earnout shares capped at ~1.28M.

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