ON Semiconductor Buys Quantenna Communications For $1.07 Billion
Phoenix-based ON Semiconductor announced on Wednesday afternoon that is acquiring Quantenna Communications, a developer of Wi-Fi and other semiconductor software. According to ON Semiconductor, it will pay $24.50 per share in cash, or an equity value of approximately $1.07 billion. The deal has an enterprise value of $936M after accounting for Quantenna's cash position. ON Semiconductor said it was advised by Morrison & Foerster LLP; Quantenna was advised by Qatalyst Partners, as well as O'Melveny & Myers LLP.
posted on Thursday, March 28, 2019
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