ON Semiconductor acquires Sanyo Electric subsidiary

ON Semiconductor has announced its acquisition of Sanyo Semiconductor, a subsidiary of Sanyo Electric, and other assets related to Sanyo Electric’s semiconductor business.

Under terms of the purchase agreement, ON Semiconductor paid approximately JPY11.8bn (£93m) in cash to Sanyo Electric and drew down approximately JPY31.7bn under a loan agreement with Sanyo Electric.

With this addition ON Semiconductor gains capabilities such as microcontrollers, custom Application Specific Integrated Circuits (ASICs), integrated power modules and motor-control devices for the consumer, automotive and industrial end-markets.

ON Semiconductor plans to operate Sanyo Semiconductor as an independent division, utilising the Sanyo logo for up to three years.