ON Semi acquires Quantenna for $1.07B

Mar. 27, 2019 4:42 PM ETON Semiconductor Corporation (ON)ON, QTNABy: Brandy Betz, SA News Editor2 Comments
  • Update: Quantenna resumes trading and is up 18% to $24.28.
  • ON Semiconductor (NASDAQ:ON) will acquire wi-fi tech and software company Quantenna Communications (NASDAQ:QTNA) for $24.50 per share in an all cash transaction, representing an equity value of $1.07B.
  • Enterprise value is $936M after accounting for Quantenna's cash on hand at the end of Q4.
  • Following the deal close, ON expects the acquisition to be immediately accretive to non-GAAP EPS and FCF.
  • The deal is expected to close in 2H.
  • ON shares are up 1.2% after hours to $20.81. QTNA shares were halted ahead of the announcement.

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