OmniVision receives non-binding acquisition proposal letter

OmniVision Technologies, Inc. has announced that its board of directors has received a preliminary non-binding proposal letter from Beijing-based investment management company Hua Capital Management Ltd. (HCM).

The letter is pursuant to which a group of investors led by HCM proposes to acquire all of the outstanding shares of common stock of the company in cash at $29 per share. OmniVision’s board of directors is currently reviewing and evaluating the proposal, and no decisiion has been made at this time. While the letter does serve as a non-binding proposal, no assurances can be made that a definitive offer will be made, that any agreement will be executed, or that this or any other transaction will be approved or consummated.

News of this proposal comes during a time when a number of image sensor companies have seen a change in ownership. These include:

• ON Semiconductor to acquire Aptina Imaging
• CMOSIS announces acquisition of AWAIBA
• ON Semiconductor officially acquires Truesense Imaging, Inc.

Recent OmniVision Technologies-related headlines include:

• First Sensor announces rugged CMOS cameras for automotive and mobile OEM applications
• MIT developing a wearable reading device for the visually impaired
• NASA to use Google’s 3D Project Tango devices in space station robots

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

View the press release.

Also check out:
Industrial camera survey provides potential glimpse into future of camera market
Signs continue to point toward record year for machine vision industry
UAV utilizes Google’s Project Tango computer vision technology for autonomous flight

Share your vision-related news by contacting James Carroll, Senior Web Editor, Vision Systems Design

To receive news like this in your inbox, click here.

Join our LinkedIn group | Like us on Facebook | Follow us on Twitter | Check us out on Google +