On March 29, Wentai technology announced that it had reached an agreement with oufeiguang on the acquisition of camera business for specific customers, and Wentai technology would complete the acquisition of oufeiguang's camera business for specific customers with 2.42 billion yuan. According to the report, the purchase price is almost 40% lower than the previous pricing principle of the agreement of intent to purchase.
According to the announcement, Wentai technology signed the equity purchase agreement on Guangzhou delta Imaging Technology Co., Ltd. with oufeiguang, and signed the asset purchase agreement on Jiangxi Jingrun optics Co., Ltd. with oufeiguang and Jiangxi Jingrun optics Co., Ltd. the company plans to purchase 100% of Guangzhou delta Imaging Technology Co., Ltd. held by oufeiguang in cash Equity and equipment related to the supply of cameras to overseas specific customers owned by Jiangxi Jingrun Optical Co., Ltd. Among them, the transaction price of 100% equity of Guangzhou derta is determined to be 1.7 billion yuan based on the assessed value through negotiation; the transaction price of the target equipment owned by Jiangxi Jingrun is determined to be 720 million yuan (including tax) based on the assessed value through negotiation. The total transaction price was 2.42 billion yuan.
Delta Guangzhou is the production base of Sony (China) Co., Ltd. in South China (Guangzhou, China). Its main business is the production and sales of micro cameras and related components. Sony's South China production base was acquired and delivered by ofI light in 2017. It has the industry's top camera module development and packaging technology, and has the qualification and ability to supply world-class smart phone brand customers. It is precisely because of the acquisition of Sony's South China production base that ofI light has entered Apple's supplier and become its main camera supplier.
On March 16, ofI light disclosed the announcement on major changes in the business of specific customers (Announcement No.: 2021-026), saying that overseas specific customers plan to terminate the purchasing relationship with ofI light and its subsidiaries, and in the future, ofI light will no longer obtain existing business orders from specific customers.
On March 24, Wentai technology released an announcement on the progress of the acquisition, which disclosed that after learning that the overseas specific customers planned to terminate the purchasing relationship with oufeiguang and its subsidiaries, it immediately assessed the impact of the termination of overseas specific customers' orders on the underlying assets, and continuously communicated and negotiated with oufeiguang and overseas specific customers.
Li Gang, an electronic analyst at Sinorama, a Chinese market research institution, said that cameras are the main technology direction in mobile phones, iots, smart cars and other fields in the future, and technological innovations such as high-end cameras, dual cameras, and triple cameras bring huge and growing industrial opportunities. Oufeiguang's camera business is also the most core and the most valuable part in Apple's China industrial chain. Its scarcity and importance are self-evident. It can be said that it is the Pearl in the crown of the whole apple's China industrial chain. It will take at least two years to become an apple supplier. This time, Wentai technology bought all the assets of Apple business, which shows that Wentai technology has already obtained the qualification of Apple supplier and will soon become one of the main suppliers of apple with the help of the new camera business.
Li Gang believes that Wentai technology's acquisition of Oufei optical camera business marks Wentai's success in the original semiconductor IDM On the basis of the two major business areas of integration with communication products, the company has opened up a brand-new track of optics, further broadened its business territory, and formed a complete industrial chain from chip design, wafer manufacturing, packaging and testing to R & D and manufacturing of optical devices (cameras), mobile phones, tablets, laptops, iots, automotive electronics, etc.
According to Wentai technology announcement, the target asset has a professional and efficient technology R & D team, which is an important supplier of camera modules for overseas specific customers. After the completion of this transaction, the company will further expand its business scope, cooperate with specific customers in the field of camera module products, and form a complete industrial chain, so as to better seize the development opportunity of rapid growth in the field of 5g, IOT and intelligent electric vehicles, and promote the long-term sustainable growth of the company's business performance. (quiet)