The deal happened in August 2018 according to a Deloitte report on semiconductors published in April 2019 that states the deal was for $2.178 billion – although OmniVision does not feel it necessary to mention the event on its website.
Will Semiconductor Co. Ltd. (Shanghai, China), established in May 2007, is a semiconductor device and mix-signal IC design house. Will Semiconductor lists OmniVision as one of its group companies, along with another image sensor vendor, the Beijing based SuperPix Micro Technology Co. Ltd.
OmniVision originally became Chinese in 2015 when the shareholders of the then California-headquartered company approved a plan for the company to be acquired by a Chinese consortium (see OmniVision shareholders approve Seagull takeover ). The Seagull consortium comprised Hua Capital Management Co. Ltd., CITIC Capital Holdings Ltd. and GoldStone Investment Co. Ltd. and paid approximately $1.9 billion for OmniVision.
It is not unusual for such a consortium of financier to make such a deal with a view to flipping its acquisition on to another industry player.
A clue to the final destination of what had become Beijing OmniVision Technologies Co. Ltd. can now be seen to have been dropped in September 2017 when Renrong Yu was appointed the general manager and CEO of OmniVision. Yu was chairman of Will Semiconductor and had been with the company since the year of its formation.
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