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June 9, 2014
16:27 EDTONNNON Semiconductor to acquire Aptina Imaging for about $400M in cash
ON Semiconductor signed a definitive agreement to acquire Aptina Imaging, a leading provider of high-performance CMOS image sensors for automotive and industrial markets, which are the key areas of strategic focus for ON Semiconductor. ON Semiconductor will pay approximately $400M in cash to acquire Aptina, subject to certain customary closing adjustments. The acquisition will be funded by cash on balance sheet and ON Semiconductor’s existing revolving credit facility The transaction is expected to be immediately accretive to earnings. Based on unaudited results, Aptina’s revenue for last twelve months ending on May 29 was approximately $532M with gross and operating margins of approximately 29% and 3%, respectively. ON Semiconductor currently intends to report operational results for Aptina and other image and optical sensor businesses in a separate reporting segment as soon as practical after the close of Aptina acquisition. The transaction has been approved by ON Semiconductor’s and Aptina’s boards of directors and is expected to close during the third quarter, subject to required regulatory approvals and customary closing conditions.
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July 31, 2014
06:53 EDTONNNON Semiconductor, Fujitsu Semiconductor announce strategic partnership
Fujitsu Semiconductor and ON Semiconductor announced that they have entered into a foundry services agreement. Under the terms of this agreement, Fujitsu will manufacture wafers for ON Semiconductor at its 8-inch front-end semiconductor wafer fabrication facility located in Aizu-Wakamatsu, Japan. Initial production of wafers is expected to begin within a year from today, and ON Semiconductor will have the opportunity to access additional capacity in the Aizu-Wakamatsu fab in the future. To build a stronger partnership, the two companies have also entered into a definitive agreement under which ON Semiconductor will obtain a 10 percent ownership interest in a newly formed subsidiary of Fujitsu Semiconductor that will include Fujitsu’s 8-inch Aizu-Wakamatsu fab. The consideration to be paid by ON Semiconductor for this minority interest will be approximately $7M. The transaction is expected to close during Q4 or in early 2015, subject to certain regulatory approvals and other closing conditions.
July 17, 2014
14:30 EDTONNNFujitsu to exit chip making, sell plants to ON Semi, United Micro, Nikkei says
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