The acquisition of Aptina will significantly expand ON Semiconductor's image sensor business, building on the company's leading position in the fast-growing image sensor segment of the automotive and industrial semiconductor markets. TSR, an independent market research firm, reports that demand for image sensors in the automotive and industrial applications market will grow at a compound annual growth rate of 16% per year from 2013-2016.
"With the acquisition of Aptina, we are combining Aptina's superior imaging technology with our extensive sales network and strong operational capabilities to accelerate our growth in end-markets such as automotive and industrial applications," said Keith Jackson, president and chief executive officer of ON Semiconductor. "The addition of Aptina significantly expands our scale and capabilities in the image sensor market and establishes our position as a leader in image sensor industrial and automotive-related applications. I am pleased with the business opportunities this transaction brings to both companies."
Based on unaudited results, Aptina had revenues of approximately $532 million for the past 12 months ended May 29, 2014, with gross and operating margins of 29% and 3%, respectively.The acquisition has been approved by the boards of directors of ON Semiconductor and Aptina, and is expected to close during the third quarter of 2014.The acquisition has been approved by the boards of directors of ON Semiconductor and Aptina.