Cypress announces sale of automotive image sensor business to Sensata Technologies
Cypress Semiconductor Corp. has announced that it has entered into a definitive agreement to sell its SMaL Camera Technologies, Inc. subsidiary to Sensata Technologies, Inc. The transaction is expected to close later this quarter.
"Cypress acquired SMaL Camera in February 2005 and with it came great technology to supplement our image sensor business and achieve a stronger position in the market," said Cliff Drowley, vice president of Cypress's image sensor group. "Our decision to divest the business is based on a strategic shift to focus resources onto our custom image sensor business. We believe that SMaL Camera's automotive imaging technology will complement Sensata's existing strengths in automotive applications."
Drowley said Cypress will retain its growing custom image sensor business in Mechelen, Belgium.
