ON Semiconductor Corp. has signed a definitive agreement to acquire Aptina Imaging, a provider of high-performance CMOS image sensors for automotive and industrial markets, which are the key areas of strategic focus for ON Semiconductor. Other markets addressed by Aptina’s products include cameras, mobile devices, and computing and gaming platforms.

The acquisition of Aptina will expand ON Semiconductor’s image-sensor business, as well as its segment for image sensors in automotive and industrial semiconductor market. Under the terms of the agreement, ON Semiconductor will pay approximately $400 million in cash to acquire Aptina Imaging, subject to customary adjustments at closing.

“The pending acquisition of Aptina enables us to accelerate our growth in the attractive automotive and industrial end-markets by leveraging Aptina’s highly differentiated imaging technologies in conjunction with our wide sales reach and strong operational capabilities,” says Keith Jackson, president and CEO of ON Semiconductor. “The addition of Aptina vastly expands our scale and capabilities in image sensors and establishes us as a leader in image sensors for industrial and automotive related applications. I am excited about the possibilities that this transaction presents for both companies.”

ON Semiconductor offers energy-efficient power and signal management, logic, discrete and custom solutions to help design engineers solve their unique design challenges in automotive, communications, computing, consumer, industrial, LED lighting, medical, military/aerospace, and power supply applications. The company is based in Phoenix, Ariz.

Aptina is a global provider of intelligent imaging solutions in consumer electronics devices like smartphones, tablets, laptops, gaming, wearables and digital cameras, as well as embedded and industrial solutions for automotive, surveillance, video conferencing, scanning, and medical. Aptina is headquartered in San Jose, Calif.

Release Date: June 9, 2014
Source: ON Semiconductor