ams for JV with private equity firm to further developent

Under the agreement, employees, IP, sensor products and solutions and related customers will transfer from ams to the joint venture. Wise Road Capital will on its end provide joint venture guidance, market knowledge and strength in channel and customer relationships, especially in China, a press release details. The Austrian company will transfer its current environmental sensor solution portfolio covering air quality, relative humidity and temperature sensing, which are used in automotive, smart building and air quality monitoring infrastructure applications. In addition, the ams ultrasound-based flow sensor solutions will become part of the new company portfolio. To round out the offering, the ams pressure sensor development will also become part of the product portfolio. Wise Road Capital in turn will advise the new company, opening up its network and resources from global industry partners, covering Automotive, Telecommunication, Industrial Control and Home Appliance companies. The new company, which will be headquartered in the Netherlands, will be led by Stefan Raible who will serve as Managing Director. Stefan is currently General Manager of the Environmental Sensors business at ams and was the former CEO of Applied Sensors, which was acquired by ams in 2014. The agreement encompasses an investment valuing the joint venture business at approximately USD 120 million and is expected to conclude in fall 2019. “This new JV will have a dedicated team focusing on further advancing and developing ams’ award winning environmental, flow and pressure sensor solutions for which we see the largest market opportunity in China. The combination of ams technology and Wise Road market strength create an excellent start for the new company,” said Chris Feige, Executive Vice President, EAS Divison, ams. “Stefan Raible is an experienced leader who will be able to quickly transform the new company from paper to operation.”