Following on from acquiring Truesense Imaging in April of this year, On Semiconductor has completed its purchase of Aptina Imaging for approximately $400 million in cash. The acquisition comes during a spate of image sensor company buy-outs, with Cmosis recently purchasing Awaiba and e2v buying AnaFocus.
The acquisition of Aptina will contribute revenue in the range of $60 million to $70 million for the third quarter of 2014, according to On Semiconductor. However, the company states that the impact on GAAP net income for the third quarter of 2014 is expected to be negative due to costs related to restructuring, fair market value step-up of inventory, and other acquisition related items.
Keith Jackson, president and CEO of On Semiconductor, said in a statement: ‘The acquisition of Aptina Imaging is a step towards our stated strategic goal of expanding our presence in the automotive, industrial and smartphone end-markets.’
Aptina provides CMOS image sensors for the camera phone, automotive and other consumer and medical markets. Taner Ozcelik joins from Aptina and has been named senior vice president of the Aptina image sensor business.
On Semiconductor expects to establish a new reporting segment, which will incorporate the financial results of the company’s consolidated sensor businesses, including the recent acquisitions of Aptina Imaging and Truesense Imaging, and On Semiconductor’s existing optical, image and touch sensor businesses. The company expects to begin reporting financial results for the newly created segment from the third quarter of 2014.
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