PressePortal: ams is to acquire Princeton Optronics, one of the leading providers of Vertical Cavity Surface-Emitting Lasers (VCSELs), in an all-cash transaction. The use of VCSELs is expected to gain momentum in 3D camera solutions for the Human Machine Interface (HMI). Broader adoption of 3D sensing in mobile and automotive applications could accelerate VCSEL market growth in the coming years.
Princeton Optronics operates an outsourced high volume supply chain with partners in Taiwan, the U.S., and the UK. Headquartered in Princeton, NJ (USA) with a total of 37 employees, Princeton Optronics has an annual revenue run-rate of around $10M and is profitable. The transaction includes an upfront consideration of $53.3M in cash and a substantial cash earn-out consideration related to realized 2017 and 2018 revenues, with a potential maximum earn-out value of $75M.
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."
Thanks to YG for the link!