Create a free Manufacturing.net account to continue

ON Semiconductor Completes Sanyo Acquisition

ON Semiconductor Corp. has completed its acquisition of Sanyo Electric Co.'s chip business, the company said Monday.

PHOENIX (AP) -- ON Semiconductor Corp. has completed its acquisition of Sanyo Electric Co.'s chip business, the company said Monday.

The company is paying $144 million in cash and taking out a $378 million seven-year term loan from Sanyo, a division of Panasonic Corp., to finance the deal.

ON, which is based in Phoenix, said the deal will help boost global growth by giving the company a better foothold in Japan.
More in Industry 4.0