Catalyst Semiconductor Acquired By ON Semiconductor

Santa Clara-based Catalyst Semiconductor has been acquired by Arizona-based ON Semiconductor Corporation, in a deal worth approximately $115M. According to the firms, they are in a definitive merger agreement where shareholders of Catalyst will receive 0.706 shares of ON Semiconductor common stock for each share of Catalyst common stock they own. Both firms provide analog and mixed-signal semiconductors. JP Morgan and DLA Piper US LLP advised ON Semiconductor in the deal; Houlihan Lokey and O'Melveny & Myers LLP advised Catalyst Semiconductor.