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Cypress sells imaging subsidiary to Sensata

Posted: 05 Mar 2007 ?? ?Print Version ?Bookmark and Share

Keywords:Cypress Semiconductor? SMaL Camera Technologies? Sensata Technologies? image sensors? imaging business?

Cypress Semiconductor Corp. has entered a definitive agreement to sell its SMaL Camera Technologies Inc. subsidiary to Sensata Technologies Inc. The transaction will close later this quarter.

The subsidiary, which Cypress acquired in February 2005, provides cameras and camera subsystems to automotive advanced driver assistance systems to automakers such as Bosch and Delphi. Meanwhile, Sensata Technologies was the former Sensors & Controls business of Texas Instruments. Then, Bain Capital LLC acquired it in April 2006. Sensata designs and manufactures sensors and controls for automotive, appliance, aircraft, industrial and HVAC companies.

"Our decision to divest the business is based on a strategic shift to focus resources onto our custom image sensor business, said Cliff Drowley, vice president, image sensor group at Cypress. "We believe that SMaL Camera's automotive imaging technology will complement Sensata's existing strengths in automotive applications."

Drowley added that Cypress will retain its growing custom image sensor business in Mechelen, Belgium.

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