According to a latest Bloomberg report, Fairchild Semiconductor International hired Goldman Sachs Group to help it find a potential buyer, potential suitors in the lineup include ON Semiconductor and Infineon.

Citing sources familiar with the matter but declined to be named, the Bloomberg report claims no deal has been assured and the transactions will not take place immediately.

The announcement pushed up Fairchild’s share value by 16% to US $16.35 at the close in New York, bringing the company a market capitalization of $1.89 billion.

Although, Fairchild is one of the oldest suppliers in the industry, late comers have surpassed the company. The company product portfolio includes semiconductors based power devices including for LED applications, chips for cars, electronic signal converters. The company’s annual revenue is about a tenth of rival Texas Instruments.

The semiconductor industry has witnessed $110 billion in deals for 2015, the biggest record so far as companies merge in the face of rising production costs and smaller customer pools.

Representatives from ON Semiconductor and Infineon have declined to comment, while spokespersons for Fairchild and Goldman Sachs did not respond to comment requests.