June 30, 2011 – PR Newswire — OmniVision Technologies Inc. (NASDAQ:OVTI), digital imaging company, will acquire wafer-level lens production and assembly processes out of its joint venture with Taiwan Semiconductor Manufacturing Company (TSMC), VisEra Technologies Company Ltd.
The move will take OmniVision’s CameraCube fab steps in-house instead of outsourcing to VisEra. CameraCube represents a strong market opportunity, said Shaw Hong, OmniVision Technologies CEO. Sensors and lens elements are fabricated as one reflowable monolithic unit, targeting cutting-edge image sensor applications.
The cash consideration for the operations is $45 million. OmniVision anticipates that the parties will close the transaction in Q2 FY2012. This transaction help streamline and expand production, consolidate the supply chain, and lower costs, said Hong. TSMC began adding to its VisEra capabilities in 2010.
OmniVision Technologies (NASDAQ:OVTI) makes advanced digital imaging technologies. Find out more at http://www.ovt.com.