ON Semiconductor has acquired privately held Sound Design Technologies SDT) from an affiliate of Global Equity Capital, in an all cash transaction for initial consideration of approximately $22 million. Under the terms of the acquisition, the seller will also have the ability to receive additional earn-out proceeds of up to $10 million if, among other things, SDT is able to meet certain revenue thresholds in 2010, 2011 and 2012. SDT will become an integrated part of ON Semiconductor’s Medical Division, based in Waterloo, Ontario, Canada.

SDT is a designer and manufacturer of low-power semiconductor solutions for hearing aids and portable, battery-powered DSP applications, and a leading provider of high density interconnect technologies used in custom miniaturized packages. Based in Burlington, Ontario, Canada, SDT has a 37-year history in developing miniaturized audio processors. The hearing instrument products and manufacturing operations of Gennum Corporation were acquired in 2007 to form SDT.