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ON Semi inks deal with Quantenna Communications
ON Semiconductor Corporation and Quantenna Communications Inc. have entered into a definitive agreement for ON Semiconductor to acquire Quantenna for $24.50 per share in an all-cash transaction.
The acquisition enhances ON Semiconductor’s connectivity portfolio with the addition of Quantenna’s industry leading Wi-Fi technology and software capabilities, a press release stated.
“Today’s announcement is great news for Quantenna employees and customers worldwide. As part of ON Semiconductor, Quantenna will benefit from a world-class organization in our commitment to providing the best end-user experience for our customers,” stated Dr. Sam Heidari, chairman and chief executive officer of Quantenna. “We are proud of our accomplishments and look forward to a smooth transition with the ON Semiconductor team to pursue exciting new opportunities for Quantenna’s talented employees and reinforce our longstanding position as a leading Wi-Fi technology innovator.”
On Semiconductor operates in markets throughout North America, Europe and the Asia Pacific regions. They are headquartered in Phoenix, Arizona and employ more than 35,000 people worldwide.
