(Image credit: Onsemi) Onsemi and Synaptics late on Thursday announced that they had entered into an agreement under which the former will acquire the latter in an all-stock transaction valued at approximately $7 billion. The takeover will transform Onsemi from a maker of sensor and power management semiconductors into a company with a rich portfolio of products for AI infrastructure, automotive, client, industrial, robotics, and AR/VR applications. To some degree, this will strengthen Onsemi's position as an integrated device manufacturer. Onsemi's acquisition of Synaptics is highly strategic. Synaptics has a highly diversified product portfolio that spans from compute and processing solutions to touch and biometric sensors and from display solutions to wireless connectivity. By contrast, Onsemi is mostly focused on power management devices and sensors. While the company has other businesses too, they are by far not as significant as power and sensors.…