ON Semiconductor acquires Quantenna to deploy the IoT
On June 19th, ON Semiconductor announced that it has successfully completed the acquisition of Quantenna Communications, Inc., with a total cash transaction of $24.50 per share. Anson has to pay at least $945 million. After the acquisition, Quantenna will be incorporated into the Analog Solutions Division of ON Semiconductor.
Founded in Delaware, USA on November 28, 2005, Quantenna Communications, Inc. is a leader in the Wi-Fi market, specializing in the design and development of advanced high-speed wireless communications solutions. Quantenna combines its Wi-Fi system and software expertise with high-performance RF, mixed-signal and digital semiconductor design technologies to provide customers with highly integrated solutions. Quantenna's revenue in 2016-2018 was 129 million, 176.4 million and 220.5 million US dollars, respectively. Net profit was negative in 2017 and 2016 except 2018. However, it is worth noting that its three consecutive years of research and development costs are more than 30%, which shows its emphasis on research and development, which may be the reason why ON Semiconductor acquired Quantenna.
Keith Jackson, President and CEO of ON Semiconductor, said: "Quantna's industry-leading Wi-Fi technology and ON Semiconductor's leadership in power and analog semiconductors, combined with the company's extensive sales and distribution range, will create a powerful platform to address the connectivity applications in the industrial, automotive and telecommunications markets. I am pleased to welcome Quantenna employees to join ON Semiconductor, and I look forward to the opportunity this acquisition creates for our customers, shareholders and employees."
The acquisition will enhance ON Semiconductor's advanced connectivity applications in the industrial, automotive and telecommunications markets, adding to the layout of ON Semiconductor in the IoT.