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.
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.
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.
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.
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.
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."
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