ON Semiconductor has signed a definitive agreement to acquire voltage-regulation and thermal-monitoring products for computing applications from Analog Devices (ADI). Pursuant to the agreement, ON Semiconductor will acquire certain assets and IP related to the product line, and will enter into a one-year manufacturing supply arrangement for a total consideration value of approximately $185 million in cash. Pursuant to the agreement, ON Semiconductor will also acquire several ADI-issued patents and patent applications related exclusively to the business. It will also receive appropriate IP licenses from ADI in order to continue to conduct and grow the business.
"The technical expertise of the staff is a critical aspect of this transaction," said Keith Jackson, ON Semiconductor president and CEO. "This additional talent will help ON Semiconductor expand its overall computing-power-management business and accelerates our notebook-power-management revenue growth. Along with the products and technology, this team complements ON Semiconductor’s existing computing products group and will provide increased value-add and scale to our customers."