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ON Semiconductor acquires Sound Design Technologies
By siliconindia
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Monday, 14 June 2010, 18:26 IST
Bangalore: ON Semiconductor, a supplier of silicon solutions for green electronics has acquired privately held Sound Design Technologies (SDT) from an affiliate of Global Equity Capital in an all cash transaction for initial consideration of approximately $22 million.
SDT is a designer and manufacturer of ultra-low-power semiconductor solutions for hearing aids and portable, battery-powered DSP applications, and also a provider of advanced high density interconnect technologies used in custom miniaturized packages. "The acquisition of Sound Design Technologies solidifies our position as a leading supplier of ultra-low-power digital signal processing (DSP) technology for hearing aids and audio processing applications," said Robert Tong, Vice President of ON Semiconductor's Medical Division.
Under the terms of the acquisition, the seller will also have the ability to receive additional earn-out proceeds of up to $10 million if, among other things, SDT is able to meet certain revenue thresholds in 2010, 2011 and 2012. The initial consideration value represents approximately one times SDT's first quarter 2010 annualized sales levels. SDT will now become a part of ON Semiconductor's Medical Division, based in Waterloo, Ontario, Canada.
