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© mikael damkier dreamstime.com Business | January 05, 2017

Novatek to acquire Faraday’s surveillance business

Taiwanese Novatek Technology will acquire Faraday Technology’s surveillance business, which includes DVR and IP-Cam SOC and other products, along with related intellectual property.
Novatek will also buy the company the surveillance business’ technology, and fixed asset, for an aggregated acquisition price of NTD 720 million (USD 22.3 million) in cash.

Novatek Technology is a fabless company in Taiwan, specialising in display-centered total solutions ranging from full line of display IC sand SoC for all display applications. Faraday Technology is a fabless ASIC / SoC and silicon IPs provider.

With the acquisition of Faraday’s surveillance business, Novatek believes that it can strengthen the technology competitiveness of its imaging SOC and IP Camera and completely cover the surveillance product lines from the low-end to high-end, and further expand its customer’s list in China. This aims to increase the operating scale, improve gross margin, create operating results and competitiveness.

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April 27 2017 1:33 PM V8.1.3-1