“The combination of ON Semiconductor and Fairchild creates a power semiconductor leader with strong capabilities in a rapidly consolidating semiconductor industry,” said ON Semi’s president and chief executive Keith Jackson. “Our plan is to bring together two companies with complementary product lines to offer customers the full spectrum of high, medium and low voltage products.”
The acquisition, which will create a company with a turnover of around $5bn a year, is expected to be completed by the middle of 2016.
“Fairchild will continue to pioneer technology and design innovation in efficient energy consumption to help our customers achieve success and drive value for our partners and employees around the world,” said its chairman and CEO Mark Thompson. “We look forward to working closely with the ON Semiconductor team to ensure a smooth transition.”
