ams (SIX: AMS; Premstaetten, Austria), a supplier of sensor and analog solutions, has signed an agreement to acquire 100% of the shares in Princeton Optronics (Mercerville, NJ), a maker of vertical cavity surface-emitting lasers (VCSELs), in an all-cash transaction.
Princeton Optronics operates an outsourced high volume supply chain with partners in Taiwan, the U.S., and the United Kingdom. With 37 employees, the company has an annual revenue run-rate of around $10 million and is profitable. The transaction includes an upfront consideration of $53.3 million in cash and a substantial cash earnout consideration related to realized 2017 and 2018 revenues, with a potential maximum earnout value of $75 million. The transaction is expected to close within six months and is subject to certain approvals and occurrences.
Alexander Everke, CEO of ams, said of the transaction, “Adding the illumination source expands ams’ optical sensor solutions offering, with the light path optics covered by Heptagon and the light sensor including filters by ams. Leveraging this portfolio ams can now design and manufacture the most complete and differentiated optical solutions for future growth areas like mobile 3D sensing and imaging or automotive autonomous driving. Princeton Optronics is a strategic partner to ams/Heptagon for optical sensing products already so we see a range of potential future synergies from this exciting combination.”
ams is a global manufacturer with products that include sensor ICs, interfaces and related software for consumer, communications, industrial, medical, and automotive markets. The company employs over 3300 people and serves more than 8000 customers.
Source: Princeton Optronics
