The acquisition will help Navitas address AI data centre power challenges by bringing power conversion closer to high-current processors.
Navitas Semiconductor has agreed to acquire Claros, a power management solutions company developing technologies for next-generation artificial intelligence (AI) data centres, in a transaction valued at up to approximately $232.8 million.
The acquisition is aimed at expanding Navitas’ AI infrastructure portfolio from high-voltage power conversion to power delivery directly at AI processors, including graphics processing units (GPUs), central processing units (CPUs), tensor processing units (TPUs) and other accelerators.
Modern AI processors are demanding thousands of amps with increasingly faster response times, creating challenges for conventional voltage regulator modules (VRMs). These systems typically move power across circuit boards, increasing electrical losses and limiting power density. Navitas refers to this limitation as a “power wall”.
Claros’ vertical power delivery (VPD) and integrated voltage regulator (IVR) technologies are designed to address this challenge by bringing power conversion closer to the processor. The company integrates power conversion, control, drive circuitry and passive components into compact packages that can sit beneath or within processor packages or on printed circuit boards.
According to Navitas, shortening the power path from inches to millimetres can reduce impedance and distribution losses while improving transient response and efficiency at low voltage levels.
The technology will complement Navitas’ gallium nitride (GaN) and high-voltage and ultra-high-voltage silicon carbide (SiC) portfolio, which is being developed to support emerging 800V high-voltage direct current (HVDC) architectures for AI data centres.
Navitas expects the acquisition to more than double its identified 2030 serviceable addressable market (SAM) to over $8 billion. Claros is expected to add at least $3.5 billion from the VPD and IVR markets.
Under the agreement, around $216 million will be paid at closing through cash and Navitas shares, while additional shares will be issued upon achievement of specified business milestones. Continuing Claros employees may also receive performance-based compensation worth approximately $28.9 million in Navitas shares.
The deal has been approved by both companies’ boards and is expected to close before the end of 2026, subject to regulatory approvals and other customary conditions.
