ON Semiconductor Corp. has entered into an agreement to acquire New York-based Ferric Inc. in a deal that could exceed $600 million as the Scottsdale-based company projects to more than double its AI data center revenue this year.
ON Semiconductor, which does business as Onsemi, on Monday announced plans to acquire Ferric for $600 million in cash, plus up to $175 million in additional cash consideration contingent upon revenue milestones, according to the company…