On Semi completes Sanyo buy-out
January 04, 2011 // Phil Ling
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
Combo inertial sensor market on 19% CAGR, says Yole.
November 21, 2014
US, China pushing industrial chip market growth, says IHS
LA Auto Show: Hydrogen fuel cell drive is back
Opening up the IoT data flood gates
Polarizing filter reduces energy drain from smartphone displays
From warm to cool white: colour-temperature tunable LEDs
November 20, 2014
At electronica, LED manufacturer Everlight introduced what the company claims to be the world's first colour-temperature ...
System provides high-volume solution for flexible OLED displays
Isabellenhütte diversifies channels, clientele
SiRFusion enables accurate indoor location without new infrastructure
- Halogen-free options and increased performance for terminal blocks
- Wireless Power User Guide
- Secure is the New Smart
- 5 Best Practices for Designing Flexible Test Stations
InterviewFreescale CEO: 'IoT isn't just buzz'
Coming after the solid third quarter results that produced higher operating margins and improving cash flow, Freescale Semiconductor's CEO Gregg Lowe had every reason to be chipper and lively when EE Times ...
Filter WizardCheck out the Filter Wizard Series of articles by Filter Guru Kendall Castor-Perry which provide invaluable practical Analog Design guidelines.
Linear video channel
READER OFFERRead more
This month, Cherry is giving away five of its Energy Harvesting Evaluation kits, worth over 266 Euros each, for EETimes Europe's readers to win. Cherry's energy harvesting technology benefit mostly applications where a complex wire assembly and/or batteries would be inappropriate.
The required RF-energy is created by the mechanical actuation of the switch and the data is transmitted...MORE INFO AND LAST MONTH' WINNERS...
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.