OmniVision, World’s Second Largest Camera Sensor Maker To Be Sold To Chinese Investors
While Sony still has a huge market share in the smartphone camera sensor market, its closest rival in this particular industry OmniVision, is about to go in to the hands of a Chinese firm. That is right folks, OmniVision, which currently possesses a market share of 15.7 percent, is only 0.5 percent ahead of Samsung in the smartphone camera sensor market and after being acquired by a Chinese firm, it looks like Sony and Samsung better prepare themselves for an imminent storm.
OmniVision Will Be Getting Acquired By Hua Capital Management, Through A Unanimous Decision
The latest report from DigiTimes states that OmniVision stockholders have agreed to sell the company to Chinese investors. These investors hailed from Hua Capital Management, where a major ownership of the company is in the hands of the Chinese. The report states the following:
“Approximately 97.1% of the total votes cast, which represents approximately 64.6% of the total shares outstanding as of the June 9, 2015 record date for the special meeting, were voted in favor of the adoption of the Merger Agreement.”
For those who an unaware about the following, Apple used to incorporate the company’s camera sensors before making a switch to Sony. According to the report, iPhone 4 featured such a sensor. The report did not detail the exact price at which the agreement was made, but it is not the first time that a Chinese firm has approached a U.S. based company.
Earlier, Micron was approached by Tsinghua Unigroup to be acquired for $23 billion and had it been given the green light, it would have been the largest foreign company to acquire a U.S. based firm in history. Now that OmniVision is going to be in the hands of a Chinese company, you can rest assured that cheaper and more capable camera sensors are on their way to disrupt Sony’s success rate.
We will have more details available for you as soon as possible. Till then stay tuned for more.