CHICAGO ---- Littelfuse, Inc. has entered into definitive agreements to acquire the product portfolio of transient voltage suppression (“TVS”) diodes, switching thyristors and insulated gate bipolar transistors (“IGBT”) for automotive ignition applications from ON Semiconductor Corporation for a combined purchase price of $104 million. This portfolio has annualized sales of approximately $55 million. The transactions are expected to close in late August, 2016.
Littelfuse also plans to invest approximately $30 million in its semiconductor fabrication locations to enhance its production capabilities, add significant capacity to its China fabrication facility and transfer the production of the acquired portfolio. The transfers will occur over the next few years, as the company works with customers on their timing and requirements. The expected productivity gains from this investment will drive long term profitable growth across the company’s semiconductor business.
For more information, visit the http://www.littelfuse.com