With the move, On Semiconductor (Chandler, Ariz.) expands its product lines and moves into India. PulseCore (Campbell, Calif.) is a fabless semiconductor company and a provider of standard and custom high-speed and low power analog and mixed-signal silicon solutions. PulseCore products include EMI reduction, clocking, power management and system monitoring ICs.

In 2002, Alliance Semiconductor acquired PulseCore Semiconductor. In 2006, Alliance Semiconductor divested itself of all semiconductor operations and sells analog unit. The unit is purchased by group of investors led by Shah Capital Partners and is reincorporated as PulseCore Semiconductor.

''The acquisition of PulseCore expands On Semiconductor's high gross margin clock and circuit protection offerings for the consumer, wireless and computing end-market customers,'' said Keith Jackson, On Semiconductor president and CEO, in a statement.

''PulseCore's capabilities in standard and custom high-speed and low power analog and mixed signal solutions for EMI (electromagnetic interference) reduction also enhance On Semiconductor's overall EMI filtering and circuit protection portfolios. In addition, PulseCore's strong design capabilities and history in India represents On Semiconductor's first foray into design activity in that country," he said.

On Semi also announced that total revenues in the third quarter of 2009 were $472.9 million, an increase of approximately 13 percent from the second quarter of 2009. During the third quarter of 2009, the company reported GAAP net income of $29.9 million, or $0.07 per fully diluted share. The third quarter 2009 GAAP net income included net charges of $41.0 million, or $0.09 per fully diluted share, from special items.

During the second quarter of 2009, the company reported a GAAP net loss of $3.0 million, or $0.01 per fully diluted share. In the like period a year ago, On reported sales of $581.5 million and earnings of $51 million, or $0.13.

''While there is still uncertainty as to how quickly the semiconductor industry will return to pre-recession revenue levels, our revenues continue to improve from the lows of the first quarter of 2009. We also believe that the overall supply chain remains very lean. Our weeks of distribution inventory were at the lowest level in the company's history at approximately 9 weeks exiting the third quarter of 2009," Jackson said.

''Based upon product booking trends, backlog levels and estimated turns levels, we anticipate that total revenues will be approximately $480 to $495 million in the fourth quarter of 2009," Jackson said. "Backlog levels at the beginning of the fourth quarter of 2009 were up from backlog levels at the beginning of the third quarter of 2009 and represent over 90 percent of our anticipated fourth quarter 2009 revenues. We expect that average selling prices for the fourth quarter of 2009 will be down approximately one to two percent, sequentially.''

Before the downturn, the company was on an acquisition spree. In recent times, On Semi acquired AMI Semiconductor Inc. On Semiconductor also recently acquired the voltage regulation and thermal monitoring products for computing applications from Analog Devices for $184 million.

Continuing on its buying spree, On Semiconductor in July signed a definitive agreement to acquire Catalyst Semiconductor Inc. for $115 million in stock.

In November, On Semiconductor and Microchip Technology Inc. abandoned their joint bid to acquire Atmel Corp.