Fairchild Semiconductor International Inc has hired Goldman Sachs Group Inc. to find a buyer and is in talks with companies including ON Semiconductor Corp. and Infineon Technologies AG, Bloomberg reported.

Fairchild’s shares rose as much as 23.6 percent to $17.48 on Wednesday, giving the company a market value of more than $2 billion. The company has corporate offices and manufacturing and design facilities in South Portland.

No deal is assured and a transaction isn’t imminent, Bloomberg reported, citing people familiar with the matter.

Fairchild and Goldman Sachs declined to comment. ON Semiconductor and Infineon were not immediately available for comment.

There have been a number of deals in the semiconductor industry this year as companies look to cut costs and expand their offerings.

Intel Corp. agreed in June to buy Altera Corp. for $16.7 billion, while Avago Technologies Ltd. said in May that it would buy Broadcom Corp. for $37 billion.

Anglo-German chipmaker Dialog Semiconductor agreed last month to buy U.S. peer Atmel Corp. for about $4.6 billion. Last year in August, Germany’s Infineon announced its largest ever acquisition when it said it would buy U.S.-based International Rectifier for about $3 billion.

Fairchild, which makes chips for power management as well as home appliances, cars, cloud computing and consumer electronics, had about 115.4 million shares outstanding as of July 26.

The company reported smaller-than-expected quarterly profit and revenue in July, hurt by weak demand from makers of mobile handsets and appliances.

Fairchild shares closed up 15.6 percent at $16.35 on Wednesday. ON Semiconductor closed up 7.1 percent at $10.74.

Reporting by Anya George Tharakan and Alan John Koshy in Bengaluru.