ON Semiconductor today announced the completion of its acquisition of Aptina Imaging. The total consideration of approximately $400 million in cash for the acquisition of Aptina Imaging was funded by cash on the balance sheet and ON Semiconductor’s existing revolving line of credit.

“With a broad portfolio of products and industry-leading technological capabilities, ON Semiconductor is well positioned to provide the most competitive imaging solutions for a broad range of applications,” said Keith Jackson, president and CEO of ON Semiconductor. “The acquisition of Aptina Imaging is a step towards our stated strategic goal of expanding our presence in the automotive, industrial and smartphone end-markets. I am pleased to welcome the employees of Aptina Imaging to ON Semiconductor and I look forward to the opportunities that this transaction creates for our customers, investors and employees.”

Taner Ozcelik, has been named Senior Vice President of the Aptina image sensor business and will report to Keith Jackson, president and CEO of ON Semiconductor. Mr. Ozcelik joins the company from Aptina, where he was leading the Automotive and Embedded business as Senior Vice President. Prior to joining Aptina, Mr. Ozcelik directed product development at NVIDIA, where he held various executive positions including Vice President and General Manager of Automotive and Embedded business. Before joining NVIDIA in 2004, Mr. Ozcelik held the roles of CEO at MobileSmarts and Vice President & General Manager for Sony Semiconductor’s Digital Home Platform Division.

For the third quarter of 2014, the recent acquisition of Aptina Imaging will likely contribute revenue in the range of $60 million to $70 million.