Product category:
Power Supply ICs and Controllers
News Release from: ON Semiconductor
Edited by the Electronicstalk Editorial
Team on 12 November 2007
Analog acquisition to expand power
portfolio
ON Semiconductor is to acquire voltage regulation and thermal monitoring products for computing applications from Analog Devices.
ON Semiconductor has signed a definitive agreement to acquire voltage regulation and thermal monitoring products for computing applications from Analog Devices Pursuant to the agreement, ON Semiconductor will acquire certain assets and intellectual property related to the product line and will enter into a one-year manufacturing supply arrangement for a total consideration value of approximately US $185 million in cash
This article was originally published on Electronicstalk on 31 Mar 2003 at 8.00am (UK)
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This amount also includes consideration for the one-year manufacturing supply arrangement.
These products represented approximately US $80 million in revenue for ADI through the 12 months ended 3rd November 2007.
"The technical expertise of the staff is a critical aspect of this transaction", says Keith Jackson, ON Semiconductor President and CEO.
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"This additional talent will help ON Semiconductor expand its overall computing power management business and accelerates our notebook power management revenue growth".
"Along with the products and technology, this team complements ON Semiconductor's existing Computing Products Group and will provide increased value-add and scale to our customers".
Pursuant to the agreement, ON Semiconductor will also acquire several ADI issued patents and patent applications related exclusively to the business and receive appropriate intellectual property licences from ADI in order to continue to conduct and grow the business.
The acquisition is expected to close in December on the satisfaction of regulatory requirements and other customary closing conditions.
On closing, ON Semiconductor may record a one-time charge for purchased in-process research and development expenses and other deal related costs.
The amount of that charge, if any, has not yet been determined.
This acquisition is expected to enhance revenue and run at a gross margin superior to ON Semiconductor's existing product gross margin.
"Based on our third quarter 2007 results, our Computing Products Group is running at an annualised revenue run rate of approximately $375 million", says Jackson.
"The customers and products associated with this end-market are a critical component to our ongoing success and strategy".
"Once completed, the purchase of the voltage regulation and thermal monitoring business from ADI is expected to accelerate our technology, resources and development capabilities in the computing and related end-markets and will enable ON Semiconductor to develop a larger mix of high-performance analogue and power products for our customers".
"While the manufacturing supply arrangement will help enable the smooth transition of the product portfolio into ON Semiconductor, we believe that over time, the business will benefit greatly from the capabilities of our Gresham wafer fabrication facility".
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