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ON Semiconductor completes $2.4 billion purchase of Fairchild

SOUTH PORTLAND — An Arizona-based chip manufacturer has completed its $2.4 billion purchase of Fairchild Semiconductor, including a plant and offices in Maine that employ 700 workers.

ON Semiconductor and Fairchild announced that final regulatory approval from China was received Friday and that the deal was completed on Monday.

ON President and CEO Keith Jackson said in a statement from Phoenix that Fairchild provides “a platform to aggressively expand our profitability.” There was no immediate word on what the deal means for Fairchild’s offices and factory in South Portland.

Fairchild was based in Maine before moving to San Jose, California. Its founders included Robert Noyce, one of the inventors of the microchip who went on to help found Intel.

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