ON Semiconductor Corp. (ONNN) Completes Strategic Acquisition of SANYO Electric Subsidiary
ON Semiconductor Corp. today announced it has completed its $144 million acquisition of SANYO Semiconductor Co., Ltd., a subsidiary of SANYO Electric, including assets related to SANYO Electric’s semiconductor business. The acquisition adds meat to ON Semiconductor’s product portfolio with the addition of new capabilities for the consumer, automotive and industrial end-markets. Keith Jackson, president and CEO of ON Semiconductor, said the deal reflects ON Semiconductor’s broader efforts to expand its market reach, and that the acquisition of SANYO Semiconductor is in line with the company’s changing focus. “The combination with SANYO Semiconductor represents an important step in the continued…