In a definitive agreement, ON Semiconductor of Phoenix will acquire the CMOS Image Sensor Business Unit from Cypress Semiconductor Corp. of San Jose, Calif., in an all-cash transaction of ~$31.4 million. The transaction is expected to close by the end of the first quarter of 2011. The unit will become part of ON Semiconductor’s Digital, Military/Aerospace and Image Sensor Div. ON Semiconductor’s products target one-dimensional image sensing with a focus on contact image sensing and ambient/proximity sensors. At the close of the acquisition, the company will have a complete product offering between 1- and 2-D sensors across multiple end markets. Cypress’ portfolio includes high-performance custom and standard CMOS image sensors for multimegapixel digital photography, medical x-ray imaging, biometrics and other applications.