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Chinese group agrees to acquire OmniVision for USD 1.9 bln
2015-05-01 11:20:00| Telecompaper Headlines
(Telecompaper) Advanced digital imaging services developer OmniVision Technologies has agreed to an increased USD 1.9 billion bid for its business from a consortium of Chinese investors. Beijing private-equity firm Hua Capital Management joined forces with other Chinese investors to offer USD 29.75 a share in cash for the company, around 12 percent more than the stock's current value. The deal is expected to close in 2016, leading to OmniVision. However, reports have suggested it may be blocked by US regulators concerned about Chinese investors acquiring Silicon Valley tech companies. OmniVision makes sensors, chips and other components for cameras used in smartphones and reported sales of USD 1.42 billion in 2014. Breakdowns of Apple products have revealed that OmniVision's components have been used in iPhones in the past.
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Category:Telecommunications