ON Semiconductor Completes Acquisition of SANYO Semiconductor

Phoenix-based ON Semiconductor said this morning that it has completed its acquisition of the SANYO Semiconductor subsidiary of SANYO Electric. The deal was worth $144M in cash, plus a draw down of approximately $378M in a loan agreement with SANYO Electric. ON Semiconductor said the buy will allow it to expand "wholeheartedly" into the Japanese market. SANYO Semiconductor adds products ranging from microcontrollers and custom Application Specific Integrated Circuits (ASICs), integrated power modules, and other devices for the consumer, automotive, and industrial market to ON Semiconductor's lineup.