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austriamicrosystems acquires TAOS to strengthen light sensor portfolio
TAOS is a developer of light sensing technology and is a leading worldwide supplier of light sensing solutions to the consumer electronics, computer, industrial, medical and automotive markets. TAOS’ industry-leading display management solutions including ambient light sensors, proximity sensors and color sensors have established the company as the sensor supplier of choice to many Fortune 100 global manufacturers of smartphones, tablet PCs, HDTVs, laptops/notebooks and desktop/all-in-one (AIO) computers. For fiscal year 2010, TAOS recorded audited revenues of $81 million (2009: $40 million) and an operating profit margin exceeding 30%. TAOS has had a close relationship with austriamicrosystems for several years as a customer of austriamicrosystems’ foundry business.
The consideration for the shares to be acquired will amount to approximately $320 million or approximately EUR 220 million.
"Acquiring TAOS results in a complementary expansion of our existing innovative sensor portfolio for mobile devices and considerable growth of our Consumer & Communications business. TAOS holds a strong market position as a leading, high-volume provider to many major makers of mobile consumer electronics worldwide. The strategic combination of austriamicrosystems and TAOS creates a significant provider of advanced sensor technologies for the attractive smartphone and tablet PC markets", said John Heugle, CEO of austriamicrosystems.
Visit austriamicrosystems at www.austriamicrosystems.com
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