Texas Advanced Optoelectronic Solutions(R) Inc., a light sensor industry pioneer and leading global supplier, today announced the completion of the strategic transaction to combine the company with austriamicrosystems AG (SIX: AMS), a leading global designer and manufacturer of high-performance analog ICs for the consumer, communications, industrial, medical and automotive markets, for 100% of TAOS shares. AMS is headquartered in Unterpremstaetten, Austria.
As a result of the completed transaction, TAOS shareholders received cash and stock as they assumed an approximately 20% stake in the combined new company. The total value of the TAOS shares acquired by austriamicrosystems in the transaction was approximately $320M (EUR 220M).
The combined new company brings together complementary leadership capabilities in the areas of analog mixed-signal design, power management, intelligent sensors and sensor interfaces that are critical core competencies for developing future generations of advanced, intelligent or "smart" wireless/wired sensor platforms. Further synergies will be achieved by leveraging the austriamicrosystems world-class manufacturing and process technology to develop leading-edge SSoC (Sensor Systems-on-Chip) solutions. TAOS has a longstanding and close relationship with austriamicrosystems as a customer of the austriamicrosystems' analog foundry business.
"By leveraging the combined sensor expertise of both companies, we are now uniquely positioned to expand on our current leadership position in the smartphone and tablet markets through the development of innovative sensor technologies for future mobile devices. Together, we see significant opportunities to establish advanced sensor solutions for the consumer, communications, industrial, medical and automotive markets that will contribute increased revenue growth and profitability for the company," stated Kirk Laney, CEO of TAOS, Inc.