TAOS, Inc. Announces Completion of Strategic Transaction to Join Forces with austriamicrosystems for 100% of TAOS Shares
Combined Company Leverages Complementary Analog/Mixed-Signal Design Expertise and Sensor Technology IP to Develop Future Generations of Advanced, Intelligent Sensor Platforms
July 20, 2011 (Plano, Texas) — Texas Advanced Optoelectronic Solutions(R) Inc., (TAOS, www.taosinc.com), 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.
About austriamicrosystems
austriamicrosystems is a leading designer and manufacturer of high performance analog ICs, combining over 25 years of analog design capabilities and system know-how with its own state-of-the-art manufacturing and test facilities. austriamicrosystems leverages its expertise in low power and high accuracy to provide industry-leading standard and customized analog products. Operating worldwide with more than 1,100 employees, austriamicrosystems focuses on the areas of power management, sensors & sensor interfaces and mobile infotainment in its markets Consumer & Communications, Industry & Medical and Automotive. austriamicrosystems is listed on the SIX Swiss Exchange in Zurich (ticker: AMS). For more information, please visit www.austriamicrosystems.com
About TAOS, Inc. (Texas Advanced Optoelectronic Solutions)
With more than a decade of analog mixed-signal technology innovation and market leadership, Texas Advanced Optoelectronic Solutions (TAOS), Inc. designs and manufactures digital and analog light-sensing solutions that deliver increased system integration, design flexibility and functionality to a wide range of products in the consumer, computer, industrial, healthcare, life & fitness, solid state lighting and automotive markets. Integrated ambient light sensing and proximity detection solutions enable “Green” displays by reducing system power consumption. An expanding portfolio of programmable analog and digital RGB color sensors provides accurate color discrimination, determination and measurement. More information can be found at http://www.taosinc.com
Trademarks
Texas Advanced Optoelectronic Solutions is a registered trademark of Texas Advanced Optoelectronic Solutions, Inc. (TAOS) of Plano, TX.
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