re : DSA.TO (Dalsa Corp) - News
DALSA Corporation Signs Term Sheet for the Envisaged Acquisition of Philips' CCD Image Sensors Business
Toronto Stock Exchange Symbol: DSA
WATERLOO, ON, Jan. 23 - DALSA Corporation (TSE:DSA - news) announced today that it has signed a term sheet for the envisaged acquisition by DALSA of the CCD Image Sensors Business of Royal Philips Electronics.
This purchase is expected to include intellectual property, technology, assets, product lines and employees associated with Philips' CCD Image Sensors Business. With about 60 employees, and annual sales of approximately EUR 14 million (CND$20 million), Philips CCD business has been operating from its primary location in Eindhoven, The Netherlands, for several years and is recognized as a leading fabless designer and manufacturer of high performance, high-resolution, CCD Image Sensor products for professional markets. The transaction is intended to secure the CCD Image Sensors Business' future, to allow its future growth as a part of a more focused activity, and to secure customer relationships.
"This acquisition will be synergistic with DALSA's existing high performance digital imaging solutions technologies, markets and operations," commented Savvas Chamberlain, CEO of DALSA Corporation. "It will extend DALSA's traditional position in industrial applications to the professional digital still camera marketplace, and adjacent high performance sectors. Philips' CCD research and development talents are highly regarded. Many of DALSA's technical and production team have worked closely with the Philips CCD group in the past, as both a supplier and as co-participants in the CCD research community. We are excited about the prospect of joining forces with this internationally recognized group of people. Furthermore, the opportunity to bring Philips' CCD Image Sensor semiconductor wafer production into the Bromont, Quebec foundry that DALSA will acquire from Zarlink in February will increase capacity utilization and lower production costs at the foundry."
In parallel with the required consultation procedures with the relevant Dutch trade unions and Philips' Works Council, due diligence will be undertaken in the near future, followed by the drafting and execution of definitive agreements and closing. Financial details are not being disclosed at this time.
CCDs are colour or monochrome image sensors designed for use in professional digital photography and high performance industrial imaging applications.
Philips CCD business, a non-core business line of Philips Semiconductors, develops, assembles, tests and markets a range of CCD image sensors for professional applications like medical X-ray, video broadcasting, high-end industrial, mini-labs and pro-sumer digital photography. The CCDs are specifically designed to combine the requirements for high resolution, very high dynamic range and low noise in a single device.
Investor Conference Call
DALSA will be hosting a conference call on Thursday, January 24, 2002 at 8:45am EDT to discuss the announcement. In order to join the conference call, please call 416-640-4127 or toll free at 1-888-881-4892. The conference call will be broadcast live and recorded on the web at www.newswire.ca/webcast/pages/DALSACorporation20020124. A taped replay of the conference call will also be made available until January 31, 2002 until 11:59 P.M. by calling 416-640-1917 or 877-289-8525 (passcode 170169(pound key).
About DALSA Corporation
DALSA is an international digital imaging solutions company, which designs, develops, manufactures and markets high performance image sensors, electronic cameras and vision systems. DALSA products are designed to replace human vision and act as high performance "electronic eyes" in machine vision. DALSA's continually expanding markets include Vision for Machines, Life Sciences, Vision Systems and Digital Cinema. DALSA sells to Original Equipment Manufacturers (OEMs), end users and to the scientific and research communities in Canada, the United States, Europe, Japan and Asia Pacific. Based in Waterloo, Canada, with operations in Colorado Springs, Tucson, Munich, and Tokyo, DALSA is a public company listed on the Toronto Stock Exchange under the symbol "DSA".
This press release contains forward-looking statements based on assumptions, uncertainties and management's best estimates of future events. Actual results may differ materially from those currently anticipated. DALSA has no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
For further information please contact: Dr. Savvas Chamberlain, Chief Executive Officer, DALSA Corporation, (519) 886-6000, (519) 886-0185 (fax), E-mail: investor@dalsa.com, Internet: www.dalsa.com |
