OmniVision To Acquire Wafer-Level Lens Manufacturing Operation for $45M

OmniVision Technologies, Inc. OVTI today announced that it has entered into an agreement with VisEra Technologies Company, Ltd., or VisEra, OmniVision's joint venture with Taiwan Semiconductor Manufacturing Company Limited, or TSMC, to acquire from VisEra its wafer-level lens production operations. OmniVision currently outsources the wafer-level lens production and assembly processes associated with its CameraCube technology to VisEra. The cash consideration for the operations is $45 million. OmniVision anticipates that the parties will close the transaction in the second quarter of its fiscal year 2012.