20 July 2011
austriamicrosystems to acquire optoelectronics firm
Analogue IC specialist austriamicrosystems has completed a transaction to acquire 100% of the shares of Texas Advanced Optoelectronic Solutions.
Following the successful completion of the transaction, austriamicrosystems plans to hold an extraordinary shareholders meeting to decide on the election of two representatives of former TAOS shareholders to the supervisory board.
"The acquisition of TAOS is a major step bringing the company to the next level of growth and profitability and creating a strong platform to expand our position in the high performance analogue market," said John Heugle, ceo of austriamicrosystems, pictured. "We welcome all TAOS employees and look forward to working with the talented team at TAOS on innovative sensor technologies for mobile devices leveraging both companies' world class sensor expertise. Together, we are in an excellent position to pursue the significant opportunities for advanced sensor solutions in growth markets such as smartphones and tablet pcs."
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