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China firm offers to buy Omnivision

Posted: 21 Aug 2014 ?? ?Print Version ?Bookmark and Share

Keywords:Omnivision Technologies? Hua Capital Management? CMOS? image sensor? Apple?

Omnivision Technologies Inc., a maker of CMOS image sensors, has received a take-over bid from Hua Capital Management Ltd (HCM), A Chinese investment management company, at $29 a share, which would value the company at about $1.64 billion.

The investment group led by HCM includes Shanghai Pudong Science and Technology Investment Co. Ltd, a wholly state-owned limited liability company, established directly under the Pudong New Area government of Shanghai.

In 2012, Omnivision was second placed of a top-three vendors of CMOS image sensors that comprised Sony, Omnivision and Samsung with 21, 19 and 18 per cent of the $6.9 billion market, respectively. Omnivision has supplied Apple with back-side illuminated CMOS image sensors for its iPhone and has a design centre and testing facility in Shanghai, China.

Omnivision's stock price climbed by 14 per cent to just over $28 on the news.

The company's board of directors said it was evaluating HCM's proposal.

- Peter Clarke
??EE Times Europe

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