TA Associates has agreed to acquire CMOSIS, a supplier of complementary metal oxide semiconductor (CMOS) image sensors. The transaction is expected to be completed by early 2014.
“This transaction will allow CMOSIS to continue growing as an independent company with the support of TA Associates, a strong financial partner that has an impressive track record in building technology companies and is committed to supporting our future growth,” said Luc De Mey, Chairman and CEO of CMOSIS.
CMOSIS is a supplier of standard and custom CMOS image sensors to the industrial, scientific and professional markets. The company’s products are used in such applications as machine vision, high-end digital photography, digital cinema, aerospace, scientific, medical and biometrics. CMOSIS was founded in November 2007 and employs over 60 people. The company is based in Antwerp, Belgium (www.cmosis.com).
CMOS is a widely used type of semiconductor. CMOS semiconductors use both NMOS (negative polarity) and PMOS (positive polarity) circuits. Since only one of the circuit types is on at any given time, CMOS chips require less power than chips using just one type of transistor.
The image sensor market is growing and predicted to exceed $8 billion by 2014, according to Yole Développement. CMOSIS is focused on several smaller, but high-growth, segments within this market such as machine vision, production cameras, traffic enforcement, medical devices and high-end consumer products. Within the overall market, CMOS continues to gain share over the more established charge-coupled device (CCD) technology.
“CCD has traditionally been the dominant technology in the high-end image sensor market that CMOSIS serves. The migration to CMOS is being driven by a lower cost of manufacturing, lower power requirements, higher speeds and improved sensor resolution. This accelerating market shift should continue to prove favorable for CMOSIS,” said Ajit Nedungadi, a Managing Director at TA Associates.
TA Associates makes buyouts and minority recapitalizations of profitable growth companies in the technology, financial services, business services, healthcare and consumer industries. Since founding in 1968, TA has invested in over 430 companies globally and has raised more than $18 billion in capital. The firm was founded in 1968 and has offices in Boston, Menlo Park, London, Mumbai and Hong Kong (www.ta.com).
Oppenheimer Europe and ING Corporate Finance are acting as joint financial advisers to CMOSIS and Baker & McKenzie is acting as legal adviser. Travers Smith and NautaDutilh are providing legal counsel to TA Associates. EOC Partners is providing corporate finance advice to TA Associates.
© 2013 PEPD • Private Equity’s Leading News Magazine • 12-5-13