ON Semiconductor, a Fortune 500 semiconductors supplier company, closed the $1.1bn acquisition Quantenna Communications, which designs, develops, and markets wireless communication solutions. The deal was announced on March 27 2019. The company was bought for $24.50 per share in an all-cash transaction. The acquisition significantly enhances ON Semiconductor’s connectivity portfolio with the addition of Quantenna’s industry-leading Wi-Fi technology and software capabilities. “We are very pleased to welcome Quantenna to ON Semiconductor’s team. The acquisition of Quantenna is another step towards strengthening our presence in industrial and automotive markets. The combination of ON’s expertise in highly efficient power management and broad sales and distribution reach, and Quantenna’s industry-leading Wi-Fi technologies and software expertise creates a formidable platform for addressing fast-growing markets for low-power connectivity in industrial and automotive applications. I am very excited about the opportunity this acquisition creates for customers, shareholders, and employees of the two companies.” Keith Jackson, ON Semiconductor President, and CEO.