Navitas Semiconductor announced it has entered into a definitive agreement to acquire Claros in a proposed transaction valued at approximately $232.8 million, comprising cash and stock consideration, including about $16.9 million to be paid in Navitas common stock upon the achievement of business milestones. Read the press release here.
We launched Claros to reinvent how energy flows from the grid to the chip, with the goal of enabling power savings in AI data centers. Since then, we have fabricated and tested four generations of our integrated voltage regulator, built an integration lab and testbed for Power Gateway, and are working toward delivering engineering samples and additional IVR designs through our partnership with Samsung Electronics.
Today, we entered into a definitive agreement to be acquired by Navitas Semiconductor. We believe this combination will allow us to continue developing products while gaining access to additional resources and expertise. The transaction has been unanimously approved by both companies’ boards of directors. The transaction is expected to close in the second half of 2026, subject to customary closing conditions, including regulatory approvals.
We look forward to continuing to work with our current customers and partners – we’re grateful and excited to continue building with you.
Today wouldn’t be possible without the hard work and dedication of our small team, which has overcome impossible odds to source parts, find fab capacity, navigate tariffs, and more to deliver innovation the industry desperately needs as the AI buildout begins. Thank you.
And thank you to our venture partners who believed in this mission from the start. Grant Verstandig and Red Cell Partners backed us from day one and gave us the platform to move at a speed most startups never get to experience. General Catalyst and Paul Kwan saw that solving AI’s power problem meant rethinking the entire energy stack, not just one component, and their conviction helped us raise the capital to get here. To Systemiq Capital, the Virginia Innovation Partnership Corporation, Aero X Ventures, Trenches Capital, and every other investor who joined us: this moment is a result of your partnership and belief in us.
Much more to come.
Dan
Cautionary Statement Regarding Forward-Looking Statements
This blog post includes certain forward-looking statements about, among other things, the proposed acquisition of Claros, Inc. (“Claros”) by Navitas Semiconductor, Inc. (“Navitas”) (the “Transaction”), including financial estimates and statements as to the expected timing, completion and effects of the Transaction. These forward-looking statements are based on Claros’s current expectations, estimates and projections regarding, among other things, the expected date of closing of the Transaction and the potential benefits thereof, its business and industry, management’s beliefs and certain assumptions made by Claros, all of which are subject to change. Forward-looking statements often contain words such as “expect,” “anticipate,” “intend,” “aims,” “plan,” “believe,” “could,” “seek,” “see,” “will,” “may,” “would,” “might,” “considered,” “potential,” “estimate,” “continue,” “likely,” “expect,” “target” or similar expressions or the negatives of these words or other comparable terminology that convey uncertainty of future events or outcomes. By their nature, forward-looking statements address matters that involve risks and uncertainties because they relate to events and depend upon future circumstances that may or may not occur, such as the consummation of the Transaction and the anticipated benefits thereof. These and other forward-looking statements are not guarantees of future results and are subject to risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed in any forward-looking statements. Important risk factors that may cause such a difference include, but are not limited to: (i) the completion of the Transaction on anticipated terms and timing, including the possibility that the Claros’ stockholders may not approve the Transaction and obtaining any regulatory approvals and the satisfaction of other conditions to the completion of the Transaction; (ii) the possibility that competing offers or acquisition proposals will be made; (iii) the difficulty of predicting the timing or outcome of regulatory approvals or actions, if any; (iv) potential litigation relating to the Transaction that could be instituted against Navitas, Claros or their respective directors, managers or officers, including the effects of any outcomes related thereto; (v) the risk that disruptions from the Transaction will harm Claros’s business, including current plans and operations; (vi) the ability of Claros to retain and hire key personnel; (vii) potential adverse reactions or changes to business relationships resulting from the announcement or completion of the Transaction; (viii) legislative, regulatory and economic developments affecting Claros’s business; (ix) general economic and market developments and conditions; (x) potential business uncertainty, including changes to existing business relationships, during the pendency of the Transaction that could affect Claros’s financial performance; (xi) certain restrictions during the pendency of the Transaction that may impact Claros’s ability to pursue certain business opportunities or strategic transactions; (xii) unpredictability and severity of catastrophic events, including but not limited to acts of terrorism, pandemics, outbreaks of war or hostilities, as well as Claros’s response to any of the aforementioned factors; (xiii) significant transaction costs associated with the Transaction; (xiv) the possibility that the Transaction may be more expensive to complete than anticipated, including as a result of unexpected factors or events; (xv) the occurrence of any event, change or other circumstance that could give rise to the termination of the Transaction; (xvi) competitive responses to the Transaction; and (xvii) the risks and uncertainties pertaining to Navitas’s business, including those set forth in Navitas’s most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q, as such risk factors may be amended, supplemented or superseded from time to time by other reports filed by Navitas with the Securities and Exchange Commission. Unlisted factors may present significant additional obstacles to the realization of forward-looking statements. Consequences of material differences in results as compared with those anticipated in the forward-looking statements could include, among other things, business disruption, operational problems, financial loss, legal liability to third parties and similar risks, any of which could have a material impact on Claros’s or Navitas’s financial condition, results of operations, credit rating or liquidity. These forward-looking statements speak only as of the date they are made, and Claros does not undertake to and specifically disclaims any obligation to publicly release the results of any updates or revisions to these forward-looking statements that may be made to reflect future events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.
