onsemi to acquire Allegro MicroSystems for $6.9bn.

onsemi, an American semiconductor supplier, offered to acquire Allegro MicroSystems, a global designer, developer, and fabless manufacturer of sensor ICs, for $6.9bn. “We believe the combination of onsemi and Allegro would bring two highly complementary businesses together, benefitting our respective customers and delivering immediate value to Allegro shareholders. The Allegro team has built an impressive leadership position in magnetic sensing and power ICs for the automotive and industrial end-markets. Together, Allegro’s unique product portfolio and onsemi’s differentiated intelligent power and sensing technologies would create a diversified leader in automotive, industrial and AI data center applications,” Hassane El-Khoury, onsemi President and CEO.