11 April 2014—High-performance image sensor provider Truesense Imaging (Rochester, N.Y., U.S.A.) has announced that it has signed an agreement to be acquired by ON Semiconductor (Phoenix, Ariz., U.S.A.) for $92 million in cash. One of the last vestiges of the digital imaging division of Eastman Kodak, Truesense’s high-performance CCD and CMOS image sensor technology is used in a broad range of industrial and related end markets including machine vision, mil/aero, medical imaging, scientific imaging, traffic monitoring and studio photography. Private equity firm Platinum Equity (Los Angeles) acquired the technology in 2011 when Kodak filed for bankruptcy protection.
ON Semiconductor offers a comprehensive portfolio of energy-efficient power and signal management, logic, discrete and custom solutions in automotive, communications, computing, consumer, industrial, LED lighting, medical, mil/aero and power-supply applications. The acquisition will allow the company to expand its presence in select segments of the industrial end market, according to Keith Jackson, president and chief executive officer of ON Semiconductor. The deal also significantly expands their customer base in high-performance imaging sensors.
With a revenue of $79 million for 2013, Truesense Imaging will gain the expertise of ON Semiconductor in imaging R&D, manufacturing, and global logistics infrastructure. The company is scheduled to be incorporated into ON Semiconductor’s Application Products Group by the end of June 2014.