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Samsung could acquire Corephotonics
Posted on Tuesday, 08 January 2019 15:53
South Korean electronics giant Samsung is considering a purchase of Israel-based Corephotonics, according to Globes.
Citing sources, the financial daily said the companies are in advanced talks over a potential combination which could be worth between USD 150.00 million and USD 160.00 million.
Should a deal go ahead, it would represent an exit for Corephotonics’ investors, which include Amiti Ventures, Magma Venture Partners and BetaAngels Management.
No further details have been disclosed at this time and the prospective target has declined to comment on Globes’ report.
Corephotonics claims to be the global market leader in multi-aperture technologies for mobile devices.
The company was founded in 2012 and has developed a camera with smartphone dual lens technology, with a view to improving the quality of images captured using the devices.
Since its formation, it has raised in excess of USD 50.00 million via a number of funding rounds.
According to Zephyr, the M&A database published by Bureau van Dijk, the most recent of these closed in January 2017, when it brought in USD 15.00 million from Samsung Venture Investment, Foxconn Technology and MediaTek, among other undisclosed investors.
Samsung is no stranger to the acquisition trail, having completed 28 purchases since the start of 2010, Zephyr shows.
Most recently, it picked up Spanish online real-time networks analytics platform operator Zhilabs back in October.
This was preceded by March 2018’s takeover of the remaining stake it did not already own in US mobile search engine application operator Kngine.
No financial details of either transaction were disclosed.
Zephyr shows that in 2018, 2,256 deals targeting custom computer programming services providers were announced worldwide.
The most valuable of these featured a US target as Bain Capital agreed to pick up a majority shareholding in Massachusetts-headquartered Rocket Software for USD 2.00 billion.
© Zephus Ltd