China firm offers to buy Omnivision
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