| Maker |
Cherry Semiconductor |
| Description |
April 4, 2000 - ON Semiconductor™ has successfully completed the acquisition of the Cherry Corporation's semiconductor subsidiary for $250 million. The Cherry Semiconductor unit will be integrated with ON Semiconductor.
Cherry Semiconductor's portfolio consists of analog integrated circuit (IC) solutions for the power management and automotive markets. The addition of Cherry Semiconductor's sales of approximately $130 million with ON Semiconductor's reported pro forma net product revenues of $1.62 billion combine to equal approximately $1.75 billion in sales in 1999. The Cherry Semiconductor acquisition was financed by ON Semiconductor with cash on hand, proceeds from our existing revolving credit facility, and an additional tranche under the company's senior secured bank facilities.
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| Type |
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| Web Site |
http://www.cherrysemiconductor.com |
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