ON Semiconductor will acquire California Micro Devices through a cash tender offer of $4.70 per share. With net cash, cash equivalents and short-term investments of approximately $45 million at the end of November 2009, the transaction value of CMD represents an enterprise value of approximately $63 million and an equity value of approximately $108 million, based on common stock outstanding and issued. California Micro Devices is a supplier of protection devices for the mobile handset, high brightness LED, digital consumer electronics and personal computer markets.