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ON Semi to Sell Automotive IGBT Biz to Littelfuse

By Nick Flaherty, EETimes, LONDON, Aug. 30, 2016 – 

ON Semiconductor (Phoenix, AZ) has agreed to sell its ignition IGBT power device business to Littelfuse (Chicago, IL) for $104 million to allow its acquisition of Fairchild Semiconductor to go ahead.

ON Semiconductor made the approach to Fairchild back in November last year but has had regulatory problems in the $2.4 billion deal.

The merged company would have a combined share of over 60 percent in the worldwide market for Insulated-Gate Bipolar Transistors specifically designed and calibrated for automotive ignition systems, or Ignition IGBTs. Without a sell off, the Federal Trade Comssion (FTC) in the US believed the merger would substantially lessen competition in the worldwide market for Ignition IGBTs, resulting in higher prices and reduced innovation.

ON Semiconductor has agreed to sell the Ignition IGBT business to Chicago-based manufacturer Littelfuse within 10 days of the close of the transaction. This includes design files and intellectual property that Littelfuse needs to manufacture ON's Ignition IGBTs. ON must also support the transfer of its customer relationships to Littelfuse, and supply Ignition IGBTs for Littlefuse to sell to customers while Littelfuse sets up its manufacturing operations.

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