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ams picking up Princeton Optronics
Posted on Friday, 17 March 2017 15:15
Swiss Exchange-listed ams has signed on the dotted line to buy New Jersey-headquartered vertical cavity surface emitting lasers maker Princeton Optronics.

The Austrian acquiror has committed to pay USD 53.30 million in cash for the unit, as well as an additional earn-out based on revenue in 2017 and 2018.

Under the terms of the agreement, the maximum possible earn-out which can be paid is USD 75.00 million, thereby valuing the transaction at up to USD 128.30 million.

Completion remains subject to certain approvals and is expected to follow within six months.

ams chief executive Alexander Everke said: “Leveraging this portfolio ams can now design and manufacture the most complete and differentiated optical solutions for future growth areas like mobile 3D sensing and imaging or automotive autonomous driving.

“Princeton Optronics is a strategic partner to ams/Heptagon for optical sensing products already so we see a range of potential future synergies from this exciting combination.”

The target employs 37 people and develops and supplies high performance vertical cavity surface-emitting lasers used by clients in the mobile, consumer, automotive and industrial sectors.

Its technology enables high temperature operation and delivers high powered pulsed lasers and laser arrays.

ams’s most recent acquisition closed in December 2016, when it paid an undisclosed consideration for Incus Laboratories, a London-headquartered company which makes noise cancelling technology for use in headphones.

Previous targets taken over during 2016 include Cambridge CMOS Sensors and German optical sensor maker MAZeT, both of which were purchased in June.

According to Zephyr, the M&A database published by Bureau van Dijk, the largest purchase of a semiconductor to have been announced worldwide during 2017 to date involved Tianma Microelectronics buying Xiamen Tianma Microelectronics for USD 1.46 billion.

This was followed by another Chinese deal as GigaDevice Semiconductor (Beijing) bought Beijing Xicheng Semiconductor for USD 944.80 million.

© Zephus Ltd