ON Semiconductor is set to acquire Aptina Imaging, a provider of CMOS image sensors for automotive and industrial markets for $400 million in cash.
Aptina’s products are also targeted for cameras, mobile devices, and computing and gaming platforms.
The acquisition of Aptina enables ON Semiconductor to expand its image-sensor business in automotive and industrial semiconductor market.
ON Semiconductor is trying to tap a big market opportunity. Market research firm TSR says the demand for image sensors for automotive and industrial applications will grow at annual compound rate of 16 percent between 2013 and 2016.
“The acquisition of Aptina enables us to accelerate growth in the automotive and industrial end-markets by leveraging Aptina’s imaging technologies in conjunction with our sales reach and operational capabilities,” said Keith Jackson, president and CEO of ON Semiconductor.
Aptina has clocked approximately $532 million revenue in the last 12 months with gross and operating margins of approximately 29 percent and 3 percent, respectively.