Status:  Clearance

 

Acquirer:  Hua Capital Management Co., Ltd. (China); CITIC Capital Holdings Ltd. (China); GoldStone Investment Co., Ltd. (China)

Acquired:  OmniVision Technologies, Inc. (US)

Value:  Approximately US$1.9 Billion

Industry:  Technology; Telecommunications; Semiconductors

Status:  Clearance


On October 5, 2015, OmniVision Technologies, Inc., a Delaware corporation (“OmniVision”), received notice from the Committee on Foreign Investment in the United States (“CFIUS”) that it has concluded its review of the proposed acquisition of OmniVision by a consortium composed of Hua Capital Management Co., Ltd., CITIC Capital Holdings Limited, and GoldStone Investment Co., Ltd., all Chinese companies, and determined that there are no unresolved national security concerns with respect to the proposed acquisition.” (OmniVision Technologies Form 8-K, Oct. 5, 2015, SEC Filing.) OmniVision designs and develops advanced imaging technologies, such as chips, sensors, video processors, and wafer-level optical elements, for use in various image applications, such as medical devices, media cameras, drones/surveillance, automotive, and other imaging systems. (See OmniVision website, Applications webpage.) It also develops Liquid Crystal on Silicon (LCOS) technology to provide a “fully integrated single chip solution for AR and VR systems.” (See id., LCOS webpage.) Hua Capital Management is an investment management company that focuses its investments on the semiconductor industry. (See Hua Capital Management website, about us webpage.) CITIC Capital Holdings is an investment company that specializes in private equity, real estate, structured investment and finance, and asset management. (See CITIC Capital Holdings website, home webpage.) CITIC Capital is listed as a “related company” of CITIC Group Corporation, “a large state-owned multinational conglomerate.” (CITIC Group website, related company page and introduction page.) GoldStone Investment, a subsidiary of Citic Securities Co. Ltd., is a private investment fund management company. (See Goldstone Investment Co., Ltd., website, About Us webpage; see also CITIC Securities International Co. Ltd., About CITIC Securities webpage.) On January 28, 2016, the parties completed their transaction. (See OmniVision Press Release, OmniVision, Hua Capital Management, Citic Capital and Goldstone Investment Announce the Completion of the Acquisition of OmniVision by Hua Capital Management, Citic Capital and Goldstone Investment, Jan. 28, 2016.)