OmniVision receives non-binding acquisition proposal letter

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.

Aug 19th, 2014
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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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