Print  |  Send  |   

On Semi completes Sanyo buy-out

January 04, 2011 // Phil Ling

On Semi completes Sanyo buy-out

The completion of the acquisition of Sanyo Semiconductor, a subsidiary of Sanyo Electric, and other assets related to Sanyo Electric's semiconductor business, by ON Semiconductor has been announced. ON Semiconductor paid approximately 11.8 billion ($144 million) in cash and drew down approximately 31.7 billion ($378 million) under a loan agreement with Sanyo Electric.


ON Semi plans to operate Sanyo Semiconductor as an independent division, using the Sanyo logo for up to three years. Teruo Tabata will continue as president of Sanyo Semiconductor.

However, plans are already underway to begin offering both ON Semiconductor's and Sanyo Semiconductor's products and technologies to all worldwide customers.

According to Keith Jackson, president and CEO of ON Semiconductor, the acquisition will enable ON Semi to expand 'wholeheartedly' into the Japanese market.

It expands ON Semi's product portfolio, adding microcontrollers and ASIC capabilities, as well as integrated power modules and motor control devices for the consumer, automotive and industrial end-markets.

Sanyo Semiconductor retains approximately ¥10 billion ($123 million) of cash on its balance sheet as of closing. In addition, Sanyo Electric's operational support of up to ¥25 billion ($307 million) over a two year period for the purpose of aligning Sanyo Semiconductor's cost to globally competitive manufacturing costs is expected to accelerate the timetable for the transaction to be accretive to earnings on a non-GAAP basis.

The goal is to deliver in excess of $30 million in pre-tax income per quarter, a goal that is believed to be achievable sooner than the approximate eighteen months post closing previously announced in July.

All news

PLDs/FPGAs/ASICs,MPUs/MCUs

Follow us

Fast, Accurate & Relevant for Design Engineers only!

Technical papers     

Linear video channel

READER OFFER

Read more

 

This month, Novelda is giving away two full XeThru Inspiration kits worth 1499 US Dollars each, for EETimes Europe's readers to experiment first hand with its XeThru technology.

Based on the use of radio waves, rather than infrared, ultrasound or light, the company's X2M1000 Inspiration modules can detect presence just from the chest movement while breathing, and measure both the rate and...

MORE INFO AND LAST MONTH' WINNERS...

Design centers     

Automotive
Infotainment Making HDTV in the car reliable and secure

December 15, 2011 | Texas instruments | 222901974

Unique Ser/Des technology supports encrypted video and audio content with full duplex bi-directional control channel over a single wire interface.

 

You must be logged in to view this page

Login here :