According to the Wall Street Journal (WSJ), On Semiconductor will acquire California Micro Devices for $108 million, the latest acquisition in the semiconductor market, and the semiconductor giant will further expand its product line through consolidation.
California Micro Devices manufactures devices that protect LED lighting semiconductors and products. ON Semiconductor will purchase California Micro Devices for $4.70 per share, a 54% premium to California Micro Devices' closing price on December 11, 2009. In addition, the merger can be Expected to be completed in the first quarter of 2010, ON Semiconductor will receive $45 million in cash and a net purchase cost of $63 million.
ON Semiconductor CEO Keith Jackson said that California Micro Devices specializes in protection technology that will complement ON Semiconductor's protection and lighting products; ON Semiconductor manufactures sound and power management chips for mobile phones, automobiles and portable devices .
Recently, major semiconductor manufacturers have purchased smaller manufacturers to expand their product lines. IXYS, a semiconductor manufacturer that manufactures power management chips, has purchased micro-controller manufacturer Zilog for US$62.4 million. In November 2009, Netcom's chip company Broadcom used 1.78. Billion dollars to buy Dune Networks to improve the efficiency of Netcom equipment in the data center. At the same time, semiconductor equipment manufacturer Applied Materials purchased Semitool for $364 million to enhance the bonding and cutting technology of Silicon Wafer.
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