ON Semiconductor to acquire Quantenna Communications
Acquisition strengthens ON Semiconductor presence in industrial and automotive markets
ON Semiconductor has entered a definite agreement to acquire US-based Quantenna Communications, the company said in a press release on 27 March. Under the agreement, ON Semiconductor will buy out all shares of Quantenna for USD24.50 per share, in an all-cash deal. The transaction represents equity value of Quantenna at around USD1.07 billion and enterprise value of USD936 million, after accounting the company’s net cash of USD136 million at the end of fourth quarter 2018.
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