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Austrian firm acquires US electronic company TAOS
by Staff Writers
Vienna (AFP) June 16, 2011

Austrian firm austriamicrosystems, a maker of analog integrated circuits, announced Thursday it had acquired 100 percent of the US company Texas Advanced Optoelectronic Solutions (TAOS).

The Austrian company is to pay an estimated $320 million or 220 million euros for TAOS, with 50 percent to be paid in cash and the remaining half in shares, it said in a statement.

"TAOS holds a strong market position as a leading, high-volume provider to many major makers of mobile consumer electronics worldwide," austriamicrosystems CEO John Heugle said.

"The strategic combination of austriamicrosystems and TAOS creates a significant provider of advanced sensor technologies for the attractive smartphone and tablet PC markets", he added.

The deal was expected to be finalised within eight weeks, after regulatory approval.

TAOS specialises in light sensing technology and like austriamicrosystems is a major supplier for the electronics, computer, medical and automotive markets, the statement noted.

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