ON Semiconductor Corp. will acquire Truesense ImagingInc., a provider of high-performance image sensor devices serving machine vision, surveillance, traffic monitoring, medical and scientific imaging, and photography. ON Semiconductor will pay approximately $92 million in cash to acquire Truesense Imaging, subject to customary adjustments at closing.
“The pending acquisition of Truesense Imaging is a step towards our stated strategic goal of expanding our presence in select segments of the industrial end-market,” says Keith Jackson, president and CEO of ON Semiconductor. “With the acquisition of Truesense, we will augment our abilities to deliver a broad range of high-performance image sensors to the industrial end-market and at the same time significantly expand our customer footprint. I am excited about the growth opportunities the combination of the two companies presents in the high-performance imaging market.”
“ON Semiconductor is an ideal strategic fit for Truesense as we share a common vision for expanding the capabilities of high-performance sensors used in the world’s most demanding imaging applications,” says Chris McNiffe, CEO of Truesense Imaging Inc. “This combination enables us to leverage our technology base and four decades of imaging expertise with ON Semiconductor’s R&D, manufacturing, and global logistics infrastructure. We are very excited to join the ON Semiconductor organization and to enable new growth opportunities for both our customers and our employees.”
ON Semiconductor offers energy-efficient power and signal management, logic, discrete, and custom solutions to help design engineers solve their design challenges in automotive, communications, computing, consumer, industrial, LED lighting, medical, military/aerospace, and power supply applications.
Release Date: April 2, 2014
Source: ON Semiconductor
