Close
Close

Published

Quantenna’s Q1 results highlight why ON Semi is paying $1.1bn to buy it

Quantenna has shown why ON Semiconductor just paid $1.1bn to buy the business, in its first financial report since the surprise acquisition was announced six weeks ago. Revenue was up by 27.8% year-on-year to $57.7m in the first quarter of 2019, largely because of the WiFi chip firm’s 802.11ac Wave 3 10G strategy. The company added over $12m worth of business across Asia-Pacific and the region now accounts for 92% of its total revenue, up from 90% a year earlier. Quantenna lists three mystery OEM customers as contributing 10% or more of revenue during the first quarter. The biggest grew from 18% to 26% of its total revenues in a year, while the other two unnamed customers contributed 16% and…

Close