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ams AG / ams signs agreement to acquire VCSEL technology leader Princeton Optronics

Published: March 16, 2017; 22:01 · (FriedlNews)

ams, a leading worldwide supplier of high performance sensor and analog solutions, has signed an agreement to acquire 100% of the shares in Princeton Optronics, Inc., a leading provider of Vertical Cavity Surface-Emitting Lasers (VCSELs), in an all-cash transaction.

 

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Disclosed inside information pursuant to article 17 Market Abuse Regulation
(MAR) transmitted by euro adhoc with the aim of a Europe-wide distribution. The
issuer is solely responsible for the content of this announcement.
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Mergers - Acquisitions - Takeovers
16.03.2017

Transaction expands ams' value chain in optical sensor solutions for mobile 3D
sensing and imaging, consumer augmented/virtual reality (AR/VR) and automotive
applications

Premstaetten, Austria (16 March 2017) - ams (SIX: AMS), a leading worldwide
supplier of high performance sensor and analog solutions, has signed an
agreement to acquire 100% of the shares in Princeton Optronics, Inc., a leading
provider of Vertical Cavity Surface-Emitting Lasers (VCSELs), in an all-cash
transaction.

Princeton Optronics develops and supplies high performance VCSELs which offer
specific differentiation for mobile, consumer, automotive, and industrial
applications. In the mobile and consumer markets, Princeton Optronics realizes
benchmark power efficiency and accurate control of beam divergence to create
application benefits. In automotive and industrial, Princeton Optronics'
technology enables high temperature operation and delivers high power pulsed
lasers and laser arrays which support future automotive and industrial
applications. The use of VCSELs is expected to gain momentum in optical sensor
solutions for the Human Machine Interface (HMI). Broader adoption of 3D sensing
in mobile applications could accelerate market growth for VCSEL light sources
in the coming years.

Princeton Optronics operates an outsourced high volume supply chain with
partners in Taiwan, the U.S., and the United Kingdom. Headquartered in
Princeton, NJ (USA) with a total of 37 employees, Princeton Optronics has an
annual revenue run-rate of around USD 10 million and is profitable. The
transaction includes an upfront consideration of USD 53.3 million in cash and a
substantial cash earn-out consideration related to realized 2017 and 2018
revenues, with a potential maximum earn-out value of USD 75 million. The
transaction is expected to close within six months and is subject to certain
approvals and the occurrence of certain conditions defined in the agreements
with the sellers.

Alexander Everke, CEO of ams, commented on the 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. 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."

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about ams

ams is a global leader in the design and manufacture of advanced sensor
solutions. Our mission is to shape the world with sensor solutions by providing
a seamless interface between humans and technology. ams' high-performance
sensor solutions drive applications requiring small form factor, low power,
highest sensitivity and multi-sensor integration. Products include sensor
solutions, sensor ICs, interfaces and related software for consumer,
communications, industrial, medical, and automotive markets. With headquarters
in Austria, ams employs over 3,300 people globally and serves more than 8,000
customers worldwide. ams is listed on the SIX Swiss stock exchange (ticker
symbol: AMS). More information about ams can be found at www.ams.com

Join ams' social media channels:
Twitter https://twitter.com/amsAnalog or

LinkedIn https://www.linkedin.com/company/ams-ag

Further inquiry note:
Moritz M. Gmeiner
Vice President Investor Relations
Tel: +43 3136 500-31211
Fax: +43 3136 500-931211
Email: investor@ams.com
end of announcement euro adhoc

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issuer: ams AG
Tobelbader Strasse 30
A-8141 Premstaetten
phone: +43 3136 500-0
FAX: +43 3136 500-931211
mail: investor@ams.com
WWW: www.ams.com
sector: Technology
ISIN: AT0000A18XM4
indexes:

stockmarkets: official dealing: SIX Swiss Exchange language: English

Digital press kit: http://www.ots.at/pressemappe/EASY_2901/aom

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OTE0004 2017-03-16/22:01

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