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ams acquires VCSEL technology company

ams has signed an agreement to acquire 100 percent of the shares in Princeton Optronics, Inc., a provider 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. Headquartered in Princeton, NJ (USA) with a total of 37 employees, Princeton Optronics has an annual revenue run-rate of around USD 10 million and is profitable. The transaction includes an upfront consideration of USD 53.3 million in cash and a substantial cash earn-out consideration related to realized 2017 and 2018 revenues, with a potential maximum earn-out value of USD 75 million. The transaction is expected to close within six months and is subject to certain approvals and the occurrence of certain conditions defined in the agreements with the sellers. Alexander Everke, CEO of ams, commented on 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.”

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March 15 2024 2:25 pm V22.4.5-1
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