04:28 AM EST, 12/10/2024 (MT Newswires) -- Onsemi (ON) said Monday it has agreed to acquire Qorvo's technology business for $115 million in cash to expand its market opportunity at a time when workloads based on artificial intelligence are becoming more complex and energy-intensive.

The company said the acquisition of the Silicon Carbide Junction Field-Effect Transistor technology includes the United Silicon Carbide subsidiary.

Onsemi expects the deal to expand its market opportunity by "$1.3 billion within 5 years." It said the transistor technology offers the "lowest on-resistance per chip area, using less than half of any other technology."

The deal complements Onsemi's power portfolio, enabling it to address the need for high energy efficiency and power density in AI data centers. Additionally, the move accelerates Onsemi's readiness for emerging markets.