China moves to buy Omnivision
August 18, 2014 // Peter Clarke
CMOS image sensor developer Omnivision Technologies Inc. (Santa Clara, Calif.) has received a take-over bid from Hua Capital Management Ltd., A Chinese investment management company at $29 a share, which would value the company at about $1.64 billion.
The investment group led by Hua Capital Managament (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 percent 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 center and testing facility in Shanghai, China.
Omnivision's stock price climbed by 14 percent to just over $28 on the news.
The company's board of directors said it was evaluating HCM's proposal.
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