ON Semiconductor prepares to acquire CMOS image sensor business unit from Cypress
January 28, 2011 // Paul Buckley
ON Semiconductor and Cypress Semiconductor Corp., have signed a definitive agreement which will see ON Semiconductor acquire the CMOS Image Sensor Business Unit (ISBU) from Cypress in an all cash transaction for approximately $31.4 million. The transaction is expected to close by the end of the first quarter of 2011, subject to customary closing conditions.
The ISBU will become an integrated part of ON Semiconductors Digital, Military/Aerospace and Image Sensor (DMI) division.
The acquisition of the Image Sensor Business Unit from Cypress will solidify our position as a leading supplier of CMOS Image Sensor products, said Bob Klosterboer, senior vice president and general manager of ON Semiconductors Digital and Mixed Signal Group (DMSG). In addition, the acquisition will strengthen the companys talent base and add an experienced design and applications engineering team for the image sensor market segment. The 2D high-speed CMOS image sensors from the ISBU will significantly strengthen and complement ON Semiconductors image sensor products for the industrial, medical, computing and military/aerospace markets.
The sale of our image sensor business will enable Cypress to continue to focus on programmable products including our flagship PSoC programmable system-on-chip solution and our TrueTouch touch-sensing controllers, said T.J. Rodgers, Cypress president and CEO. Our image sensor team has done a remarkable job in recent years advancing its core technologies and broadening its target markets. We believe that ON Semiconductor represents the right home for the business, and that the sale, upon its completion, represents the best possible outcome for our existing customers.All news
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