ON Semiconductor agreed to acquire Quantenna Communications for $24.50 per share in cash, representing an equity valye of approximately $1.07 billion and enterprise value of approximately $936 million, after accounting for Quantenna’s net cash.
Quantenna, which is a leading developer of Wi-Fi technology and software, was founded in 2006 and is based in San Jose, California.
“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,” said Keith Jackson, president and chief executive officer of ON Semiconductor. “I am very excited about the opportunity this acquisition creates for customers, shareholders, and employees of the two companies.”
“Today’s announcement is great news for Quantenna employees and customers worldwide. As part of ON Semiconductor, Quantenna will benefit from a world-class organization in our commitment to providing the best end user experience for our customers,” stated Dr. Sam Heidari, chairman and chief executive officer of Quantenna. “We are proud of our accomplishments and look forward to a smooth transition with the ON Semiconductor team to pursue exciting new opportunities for Quantenna’s talented employees and reinforce our longstanding position as a leading Wi-Fi technology innovator.”
- Earlier this month, Quantenna Communications announced a new benchmark for Wi-Fi network performance by achieving over 2 Gbps total throughput. This was attained by connecting multiple laptops with commercially available Intel Wireless-AC 9260 2x2AC MIMO wireless modems to a Quantenna-based 8×8 MIMO access point and utilizing the latest Wi-Fi features such as multi-user MIMO (MU-MIMO).
“Quantenna is proud of its continuous innovation to perfect Wi-Fi connectivity and user experience. We prove it once again by reaching this multi-gigabit milestone,” said Dr. Sam Heidari, chairman and CEO of Quantenna.
Quantenna’s Wi-Fi 6 QSR10GU-AX Plus chipset provides integrated dual-band, dual-concurrent 2.4GHz and 5GHz functionality, supporting up to a maximum speed of 10 Gbps and 12 simultaneous streams. It includes the SmartScan feature that offers enhanced radar detection and spectrum analyzer capabilities with wide frequency range analysis. The QSR10GU-AX Plus also supports advanced MU-MIMO schemes, allowing for transmission to multiple devices at the same time. The Intel Wireless-AC 2X2 160 MHz delivers Gigabit Wi-Fi speeds and includes two antennas for reliable connections, making it possible for users to experience smooth gaming and 4K UHD video streaming, and fast file transfers and backups on their devices.
