OmniVision receives non-binding acquisition proposal letter

Aug. 19, 2014
OmniVision Technologies, Inc. has announced that its board of directors has received a preliminary non-binding proposal letter from Beijing-based investment management company Hua Capital Management Ltd.
 

OmniVision Technologies, Inc. has announced that its board of directors has received a preliminary non-binding proposal letter from Beijing-based investment management company Hua Capital Management Ltd. (HCM).

The letter is pursuant to which a group of investors led by HCM proposes to acquire all of the outstanding shares of common stock of the company in cash at $29 per share. OmniVision’s board of directors is currently reviewing and evaluating the proposal, and no decisiion has been made at this time. While the letter does serve as a non-binding proposal, no assurances can be made that a definitive offer will be made, that any agreement will be executed, or that this or any other transaction will be approved or consummated.

News of this proposal comes during a time when a number of image sensor companies have seen a change in ownership. These include:

Recent OmniVision Technologies-related headlines include:

The HCM-led investment group also includes Shanghai Pudong Science and Technology Investment Co. Ltd., a wholly state-owned LLC, established directly under the Pudong New Area government of Shanghai.

View the press release.

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About the Author

James Carroll

Former VSD Editor James Carroll joined the team 2013.  Carroll covered machine vision and imaging from numerous angles, including application stories, industry news, market updates, and new products. In addition to writing and editing articles, Carroll managed the Innovators Awards program and webcasts.

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