ON Semi. Acquires AMI Semi.

Dec 19, 2007 3:52 PM

ON Semiconductor and AMIS Holdings, parent company of AMI Semiconductor, have signed a definitive merger agreement providing for the acquisition of AMIS by ON Semiconductor in an all-stock transaction with an equity value of approximately $915 million.

“Combining ON Semiconductor’s leading standard products and advanced manufacturing infrastructure with AMIS’s growing standard products business and substantial custom product portfolio will enable the combined company to more comprehensively address our customers’ needs,” says Keith Jackson, ON Semiconductor president and CEO.

“AMIS will immediately contribute exciting new products and capabilities in the medical and military/aerospace markets and will complement our existing automotive and industrial businesses,” says Jackson. “Over time, we plan to leverage the advanced sub-micron capabilities of our Gresham, Oregon, fabrication facility to achieve operational synergies and extend AMIS’s high-voltage and low-power offerings”.

“This transaction represents a compelling opportunity for AMIS employees, customers and shareholders by combining the outstanding manufacturing excellence of ON Semiconductor with the world class mixed-signal design talent of AMIS,” stated Christine King, CEO of AMIS.

ON Semiconductor President and CEO Keith Jackson will serve as president and CEO of the combined company. Corporate headquarters will remain in Phoenix, Ariz. with a significant presence maintained in Pocatello, Idaho, Belgium and various other locations worldwide. For more information, see www.onsemi.com and www.amis.com.

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