On June 19th, ON Semiconductor announced that it has completed the acquisition of Wi-Fi chip supplier Quantenna Communications for $24.50 per share.

In March of this year, ON Semiconductor and Quantenna jointly announced that they had reached a definitive agreement on the acquisition of Quantenna by ON Semiconductor. ON Semiconductor will acquire Quantenna for a total cash transaction of US$24.50 per share, involving an amount of approximately US$1.07 billion.

ONIT Semiconductor's President and CEO Keith Jackson said that Quantenna's industry-leading Wi-Fi technology and ON Semiconductor's leadership in power and analog semiconductors, combined with the company's extensive sales and distribution range, will create a powerful platform. To cope with the application of the industrial, automotive and telecommunications markets.

Upon completion of the transaction, Quantenna will be incorporated into the Analog Solutions division led by Vince Hopkin.