Navitas Semiconductor to Acquire Power Management Firm Claros for Up to $232.8M

Navitas Semiconductor has entered into a definitive agreement to acquire Claros, a US-based power management company, in a deal valued at up to approximately $232.8 million. The acquisition is aimed at strengthening Navitas' position in the rapidly evolving AI data center power delivery market.

Claros specializes in developing vertical power delivery (VPD) and integrated voltage regulator (IVR) technology designed specifically for AI data centers. These technologies are engineered to power high-current, high-speed AI chips directly, addressing one of the most critical bottlenecks in next-generation computing infrastructure. The company's approach stacks power conversion, drive, control, and passive components into a compact package that sits directly beneath or inside the chip package or circuit board. This design reportedly shortens the distance power travels from inches to millimeters, enabling faster transient response, lower impedance, and higher efficiency at sub-volt levels.

The acquisition is expected to complement Navitas' existing portfolio of gallium nitride (GaN) and silicon carbide (SiC) power semiconductors, which form the foundation of its 800V high-voltage direct current architecture for high-density AI racks. By integrating Claros' technology, Navitas aims to offer a complete power chain solution spanning from grid connection to the processor itself.

"The 'power wall' currently restricts next-gen xPUs in megawatt-scale server racks from achieving the next wave of AI performance," said Chris Allexandre, president and CEO of Navitas. "Combining Claros' VPD and IVR technologies with Navitas' GaN and high-voltage and ultra-high voltage SiC portfolio, we break the AI infrastructure power wall, advancing the entire power chain from grid-to-xPU."

Dan Kultran, co-founder and CEO of Claros, echoed that sentiment, noting that the company has moved rapidly to redefine the AI data center power system since its launch in 2024. "Navitas is an ideal partner to enable a complete grid-to-xPU power portfolio, deepen and expand our engagement with leading xPU and power customers, and accelerate our next phase of growth," he said.

Under the terms of the deal, Navitas will pay approximately $216 million in a mix of cash and Class A common stock, based on the company's August 21, 2026, closing share price of $12.97. The remaining consideration will be paid in stock, contingent on Claros achieving certain milestones over the following two years. Both companies' boards have unanimously approved the transaction, which is expected to close before the end of the year, subject to regulatory approval.

Founded in 2014 and headquartered in Torrance, California, Navitas develops power chip technology that claims to convert and manage electricity more effectively than traditional silicon-based chips. The company raised $30 million in seed funding in March to support the growth of its product line. Claros was founded by Kultran, who previously served as CTO of Epirus, a drone defense company that manufactures high-power microwave systems capable of disabling drones at short and long ranges.

Industry analysts view the deal as a strategic move to consolidate the power delivery supply chain for AI infrastructure, where energy efficiency and power density have become key differentiators. As AI workloads continue to scale, the ability to deliver power directly to chips with minimal loss is increasingly seen as a competitive advantage for both chipmakers and data center operators.