06:53 AM EST, 12/17/2024 (MT Newswires) -- ON Semiconductor (ON) said late Monday that Japanese car parts supplier Denso plans to acquire shares of the US semiconductor company on the open market as part of a collaboration to improve procurement of automotive sensors for self-driving.

Financial details of the planned purchase were not shared.

ON Semiconductor has been supplying Denso with car sensors for autonomous driving and advanced driver assistance systems, the companies said.