Chinese investment firms buy OmniVision for $1.9bn

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A consortium of Chinese private equity firms has bought OmniVision Technologies, one of the leading providers of image sensors, for $1.9 billion.

Three companies – Hua Capital Management, based in based in Beijing, China, CITIC Capital Holdings Limited, and GoldStone Investment – have made the purchase, which is expected to close in the third or fourth fiscal quarter of 2016.

OmniVision supplies image sensors to the mobile phone market, as well as automotive, security and entertainment sectors.

Shaw Hong, chairman and CEO of OmniVision, commented: ‘Hua Capital Management, CITIC Capital and GoldStone Investment are highly regarded China-based private equity firms with deep experience in the semiconductor industry. With our new partners’ knowledge and insight and the added flexibility that we will have as a private company, OmniVision will be able to focus on reaching the next level of growth, which will benefit our employees, customers and business partners.’

Shaw Hong is expected to remain with OmniVision in the capacity of CEO.

Yue Liu, a managing director at Hua Capital Management, said: ‘We believe our unique industry knowledge and operational expertise can help accelerate OmniVision’s presence both in China and globally.’

In order to obtain clearance or approval under applicable Taiwan law, OmniVision will divest a certain numbers of its investments in Taiwan.

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