ams OSRAM sells CMOS Image Sensor business to indie for €40m

News: Optoelectronics ams OSRAM AG of Premstaetten, Austria, and Munich, Germany has sold its CMOS Image Sensor business to Automotive semiconductor and software platform provider indie Semiconductor Inc of Aliso Viejo, CA, USA for €40m, comprising €35m in cash and a €5m seller’s note payable after two years. “While CIS represents a strong technology platform, our strategic priority is to concentrate investments on those AI-driven segments that offer the most promising growth prospects and where we clearly differentiate - including AI photonics and AR smart glasses,” says CEO Aldo Kamper. “At the same time, the expected cash proceeds provide an additional contribution to our accelerated balance sheet deleveraging. Our transformation into the Digital Photonics powerhouse is progressing,” he adds.On 4 February, ams OSRAM announced its strategic refocusing towards ‘Creating the Leader in Digital Photonics’, outlining its ambition to emerge as a focused semiconductor photonics powerhouse and the pure‑play leader in digital photonics. As part of this strategy and its capital allocation framework, ams OSRAM continues to review its portfolio to concentrate resources on digital photonics platforms with clear and sustainable market leadership potential, while supporting its accelerated balance sheet deleveraging efforts.The divestment of the CMOS Image Sensor (CIS) business concerns entities holding assets guaranteeing the group’s convertible bonds and senior notes, and therefore about €20m of the proceeds will be applied to further deleverage ams OSRAM’s balance sheet in accordance with, and subject to, the terms of these instruments. The transaction is structured as a combination of business sale and asset transactions.The transaction supports ams OSRAM’s accelerated deleveraging plan and enables continued focus on core digital photonics growth vectors. Completion of the transaction is subject to customary closing conditions and is expected within the next six months.ams OSRAM completes sale of Entertainment & Industry Lamps business to Ushio for €114mAutomotive semiconductor firm indie acquires EXALOSams OSRAM selling Automotive Lighting Systems business to Plastic Omniumams OSRAM selling horticulture lighting systems business Fluence to SignifyOsramwww.indiesemi.comwww.ams-osram.com