News Article
ON Semiconductor to acquire products from Analog Devices
Chipmaker, ON Semiconductor Corporation, has announced that it has signed an agreement to acquire voltage regulation and thermal monitoring products for computing applications from Analog Devices Incorporated (ADI).
According to the agreement, ON Semiconductor will acquire certain assets and intellectual property related to the product line and will enter into a one-year manufacturing supply arrangement for a total value of approximately US$185 million in cash. ON Semiconductor will also acquire several ADI issued patents and patent applications related exclusively to the business and receive appropriate intellectual property licenses from ADI in order to continue to conduct and grow the business.
The acquisition is expected to close in December and ON Semiconductor may record a one-time charge for purchased in process research and development expenses and other deal related costs. The amount of that charge, if any, has not yet been determined.