ON Semiconductor Corporation (Nasdaq: ON) announced today that the company has successfully completed its previously announced acquisition of Quantenna Communications, Inc. (Nasdaq: QTNA) for $24.50 per share in an all cash transaction.
“The combination of Quantenna’s industry leading Wi-Fi technologies and ON Semiconductor’s leadership in power and analog semiconductors, coupled with the combined company’s broad sales and distribution reach, creates a formidable platform to address connectivity applications in industrial, automotive, and carrier markets,” said Keith Jackson, president and chief executive officer of ON Semiconductor. “I am pleased to welcome the employees of Quantenna to ON Semiconductor, and I look forward to the opportunities this acquisition will create for our customers, shareholders, and employees.”
Quantenna will be integrated into ON Semiconductor’s Analog Solutions Group, headed by Vince Hopkin.