AMS Acquires Total Princeton Shares

AMS AG, a supplier of high-performance sensor and analog solutions, has signed an agreement to acquire 100 percent of the shares in Princeton Optronics Inc., a provider of vertical cavity surface-emitting lasers (VCSELs), in an all-cash transaction.

“Adding the illumination source expands AMS’ optical sensor solutions offering with the light path optics covered by Heptagon and the light sensor including filters by AMS,” said Alexander Everke, CEO of AMS. “Leveraging this portfolio, AMS can now design and manufacture the most complete and differentiated optical solutions for future growth areas like mobile 3D sensing and imaging or automotive autonomous driving. Princeton Optronics is a strategic partner to AMS/Heptagon for optical sensing products already, so we see a range of potential future synergies from this exciting combination.”

The transaction includes an upfront consideration of $53.3 million in cash and a cash earn-out consideration related to realized 2017 and 2018 revenues, with a potential maximum earn-out value of $75 million. The transaction is expected to close within six months.

AMS develops sensor solutions, sensor integrated circuits, interfaces and related software for consumer, communications, industrial, medical and automotive markets. Princeton Optronics develops and manufactures high- and low-power VCSELs, VCSEL-based optical subassemblies and modules, diode pumped solid-state lasers and visible lasers with direct frequency conversion.