ON Semiconductor has announced the completion of its acquisition of Aptina Imaging in a deal worth approximately $400 million and which will be paid for in cash. The acquisition is part of the company’s strategy of expanding its presence in the automotive, industrial and smartphone markets.
Commenting Keith Jackson, president and CEO of ON Semiconductor said, “The acquisition of Aptina Imaging is a step towards our stated strategic goal of expanding our presence in the automotive, industrial and smartphone end-markets. I am pleased to welcome the employees of Aptina Imaging to ON Semiconductor and I look forward to the opportunities that this transaction creates for our customers, investors and employees.”
ON Semiconductor expects to establish a new reporting segment, which will incorporate the financial results of the company’s consolidated sensor businesses, including the recent acquisitions of Aptina Imaging and Truesense Imaging, and ON Semiconductor’s existing optical, image and touch sensor businesses. The company expects to begin reporting financial results for the newly created segment from the third quarter of 2014.
Taner Ozcelik, has been named Senior Vice President of the Aptina image sensor business and will report to Keith Jackson, president and CEO of ON Semiconductor. Ozcelik joins the company from Aptina, where he was leading the Automotive and Embedded business as Senior Vice President. Prior to joining Aptina, he directed product development at NVIDIA, where he held various executive positions including Vice President and General Manager of Automotive and Embedded business. Before joining NVIDIA in 2004, Ozcelik held the roles of CEO at MobileSmarts and Vice President & General Manager for Sony Semiconductor’s Digital Home Platform Division.
According to ON Semiconductor the recent acquisition of Aptina Imaging will likely contribute revenue in the range of $60 million to $70 million in the third quarter.