MoFo, O'Melveny Shape $1.07B Semiconductor Merger

Law360 (March 27, 2019, 6:53 PM EDT) -- ON Semiconductor on Wednesday agreed to buy WiFi chipset maker Quantenna Communications for roughly $1.07 billion, with ON saying the acquisition stands to strengthen its ability to serve the industrial and automotive markets, in a deal guided by law firms Morrison & Foerster LLP and O'Melveny & Myers LLP.

Under the terms of the transaction, Phoenix-headquartered ON Semiconductor Corp. will acquire San Jose, California-based Quantenna Communications Inc. for $24.50 per share in cash, according to a statement.

Keith Jackson, president and CEO of ON Semiconductor, praised the deal in the press release and pointed to the industrial and auto markets as...

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