ON Semiconductor recently acquired Fairchild Semiconductor for $2.4 billion. Fairchild develops semiconductor solutions for mobile and power designs.
“The acquisition of Fairchild is a transformative step in our quest to become the premier supplier of power management and analog semiconductor solutions for a wide range of applications and end-markets,” said Keith Jackson, president and CEO of ON Semiconductor, in a press statement. “Fairchild provides us a plat-form to aggressively expand our profitability in a highly fragmented industry. With the addition of Fairchild, our industry leading cost structure has further improved in a significant manner and we are now well positioned to generate substantial shareholder value as we integrate operations of the two companies.”
Source: ON Semiconductor