The agreement values the joint venture business at approximately US$120 million and is expected to conclude in fall 2019.
"This new JV will have a dedicated team focusing on further advancing and developing AMS' award winning environmental, flow and pressure sensor solutions for which we see the largest market opportunity in China. The combination of AMS technology and Wise Road market strength create an excellent start for the new company," said Chris Feige, executive vice president at AMS, in a statement.
"Wise Road Capital sees immense potential in marketing the excellent technology and products developed by AMS. We look forward to applying our expertise and leveraging our relationships to make this a very successful joint venture. Not only do we have resources and networks in China, but also our close ties with leading technology companies and research institutes globally will make a valuable contribution to the joint venture," said Michael Zhang, managing partner at Wise Road Capital, in the same statement.
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