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OmniVision Technologies, Inc. (OVTI)

  • Wed, Oct. 7, 9:40 AM
    • The Committee on Foreign Investment in the United States (CFIUS) has approved OmniVision's (OVTI +2.6%) planned $29.75/share sale to a Chinese investment group led by Hua Capital. OmniVision expects the deal to close in FQ4 (ends April '16).
    • The news comes a day after top rival Sony announced it's spinning off its image sensor unit (has been taking share from OmniVision) into a separate company. OmniVision is up 9% from last Friday's close, and now is just slightly less than a dollar below its buyout price.
    | Wed, Oct. 7, 9:40 AM | Comment!
  • Fri, Jul. 24, 2:27 PM
    • At a special meeting, 97.1% of votes cast (represented 64.6% of outstanding shares) were voted in favor of approving OmniVision's (OVTI -0.3%) $29.75/share ($1.9B) deal to be acquired by a Chinese investor group led by Hua Capital. OmniVision expects the deal to close in calendar Q4 2015 or Q1 2016.
    • Amid ongoing concerns about U.S. regulatory approval, OmniVision currently trades 19% below the buyout price.
    | Fri, Jul. 24, 2:27 PM | Comment!
  • Tue, Jul. 7, 12:15 PM
    • OmniVision (NASDAQ:OVTI) has sold off yet again, leaving shares even further below the $29.75/share buyout price it agreed to with a Chinese investor group in April. Fears U.S. regulators will reject the deal have weighed on shares, as have shareholder suits attempting to stop it on the grounds it undervalued OmniVision.
    • Yesterday morning, OmniVision announced it's rescheduling a special meeting to vote on the deal to July 23 to "provide additional time for court resolution" of a shareholder motion to prevent the company's sale under certain "corrective actions" are taken. Shareholders on record as of June 9 will be able to vote.
    • Today's drop comes as many U.S.-traded Chinese tech stocks nosedive. SA author Vince Martin argued today OmniVision has limited downside even if the buyout unravels.
    | Tue, Jul. 7, 12:15 PM | 5 Comments
  • Thu, Apr. 30, 9:19 AM
    • An investor group featuring P-E firm Hua Capital and fellow Chinese investors CITIC Capital and Goldstone Investment is buying OmniVision (NASDAQ:OVTI) for a 12% premium to Wednesday's close. The $1.9B all-cash deal is expected to close in OmniVision's FQ3 or FQ4 (January and April 2016 quarters), provided shareholders and regulators sign off.
    • To get Taiwanese clearance, OmniVision will "divest certain of its interests in Taiwan," including JV interests. Bloomberg reported yesterday Hua was close to a deal to buy the image sensor vendor for ~$29/share.
    • OVTI +5.7% premarket to $28.07.
    | Thu, Apr. 30, 9:19 AM | Comment!
  • Wed, Apr. 29, 5:20 PM
    • Bloomberg reports OmniVision (NASDAQ:OVTI) is close to a deal to be acquired by Chinese P-E firm Hua Capital for $1.7B, or ~$29/share - a 9% premium to today's close. An announcement could happen as soon as tomorrow.
    • An investor group led by Hua made a $29/share non-binding offer last August. A rumor emerged last month that Hua might up its bid to $30/share.
    • OVTI +5.6% AH to $28.03.
    | Wed, Apr. 29, 5:20 PM | 2 Comments
  • Thu, Mar. 26, 11:54 AM
    • A rumor that the Chinese consortium interested in acquiring OmniVision (OVTI +1.6%) might up its offer by $1/share to $30/share has helped the image sensor vendor move higher. Many other chip stocks are selling off for the second day in a row.
    • The consortium, led by Beijing P-E firm Hua Capital, made a $29/share non-binding buyout offer last August. OmniVision currently trades 10% below the offer price.
    | Thu, Mar. 26, 11:54 AM | Comment!
  • Aug. 14, 2014, 9:07 AM
    • China's Hua Capital has made a "non-binding" offer to acquire OmniVision (NASDAQ:OVTI) for $29/share in cash. The price represents an 18% premium to yesterday's close, and translates into a $1.7B valuation.
    • The image sensor vendor says its board is reviewing Hua's proposal, and has made no decision yet.
    • Shares are halted.
    | Aug. 14, 2014, 9:07 AM | 2 Comments
  • May 23, 2014, 10:09 AM
    • TechCrunch reports Google (GOOG - unchanged) is close to buying satellite imagery startup Skybox Imaging; a source estimates the price is around $1B.
    • The Information reported of Google's interest in Skybox in April. Aside from providing high-res imagery that could bolster Google Maps/Earth, Skybox provides related analytics services aimed at enterprises/institutions.
    • TechCrunch observes Skybox currently relies on just one satellite, and needs more funding as it gets set to launch a second one in June. The company recently placed an order for 13 small satellites.
    • DigitalGlobe (DGI +0.3%), which sold off when The Information's report came out, is taking the TechCrunch report in stride. The company is a major imagery supplier for Maps/Earth.
    • Separately, the WSJ reports Google's Project Tango, launched as an effort to create Android phones able to track motion and provide 3D visual maps of one's surroundings, now extends to tablets.
    • A 7" prototype tablet sporting "two back cameras, infrared depth sensors and advanced software that can capture precise [3D] images of objects" is said to be on tap. There's a good chance OmniVision (OVTI +1.1%), already a Tango partner, is the image sensor supplier.
    | May 23, 2014, 10:09 AM | 1 Comment
  • Dec. 3, 2013, 6:50 PM
    • The Nikkei reports Sony (SNE) is looking to acquire a chip fab from struggling Renesas (RNECY), and plans to use it to expand CMOS image sensor production. The expected sale price is said to be $96M; an MOU could be signed as soon as the beginning of next week.
    • The paper points out Sony already has a ~30% share of the CMOS image sensor market, thanks in part to growing sales to Apple, Samsung, and other mobile OEMs.
    • The report comes as image sensor rival OmniVision (OVTI) provides soft guidance to go with an earnings beat, and reports of seeing "intensifying competition."
    | Dec. 3, 2013, 6:50 PM | Comment!
Company Description
OmniVision Technologies Inc designs, develops and markets high-performance, highly integrated and cost-efficient semiconductor image-sensor devices. Its products include image-sensing devices namely CameraChip image sensors.