ON Semiconductor to Acquire Unit from Cypress

ON Semiconductor and Cypress Semiconductor Corp. announced a definitive agreement for ON Semiconductor to acquire the CMOS Image Sensor Business Unit (ISBU) from Cypress in an all-cash transaction for approximately $31.4 million.

Subject to customary closing conditions, the transaction is expected to close by the end of the first quarter of 2011.

The ISBU will become an integrated part of ON Semiconductor’s Digital, Military/Aerospace and Image Sensor (DMI) division. ON Semiconductor’s current products target one dimensional image sensing with a focus on contact image sensing and ambient/proximity sensors. At the close of the acquisition, it will have a complete image sensing product offering between 1- and 2-D sensors across multiple end-markets.

Cypress’s portfolio includes high-performance custom and standard CMOS image sensors for multi-megapixel digital photography and cinematography, machine vision, linear and 2-D bar code imaging, medical x-ray imaging, biometrics and aerospace applications.

Pursuant to the agreement, ON Semiconductor will acquire approximately 100 patents and patent applications related exclusively to the business and will receive appropriate intellectual property licenses from Cypress. In addition, approximately 80 ISBU employees will join ON Semiconductor.

ON Semiconductor supplies high performance silicon solutions for energy efficient electronics.

For more information, visit: www.onsemi.com