ON Semi to acquire Sanyo Semiconductor

This is a cash and stock transaction with a purchase price of approximately USD 366 million (around EUR 285 million), subject to adjustment pursuant to the terms of the transaction. The acquisition is expected to be completed before the end of 2010. “The pending acquisition of Sanyo Semiconductor is another significant step by ON Semiconductor to solidify its position as a premier global supplier of high-performance, energy efficient silicon solutions with increased manufacturing scale and an expanded addressable market,” said Keith Jackson, president and CEO of ON Semiconductor. Teruo Tabata, president of Sanyo Semiconductor, added, “There will be no change in the strategy as far as technology is concerned, as both companies specialize in analog technology. Instead, following the acquisition by ON Semiconductor, new opportunities to introduce both companies’ existing products in our newly combined markets will be available. We can also expect to expand the consumer base and further grow the business by offering complementary products and services to each other. In addition, we can expect further business development by strengthening product competitiveness through ON Semiconductor’s superior cost control measures in a value-added supply chain.”