SANTA CLARA, Calif., — April 1, 2011 — OmniVision Technologies, Inc. (NASDAQ: OVTI), a leading developer of advanced digital imaging solutions, today announced the purchase of approximately 850 image sensor-related patents and patent applications from Eastman Kodak Company for $65.0 million in a cash transaction. The transaction was completed on March 31, 2011.
“We are pleased with the opportunity to double the size of our intellectual property portfolio for CMOS image sensors and to reinforce our leadership role in the advancement of image sensor technologies and solutions,” said Shaw Hong, chief executive officer of OmniVision Technologies, Inc. “Market research projections for a number of our target markets suggest that demand for CMOS-based imaging solutions is anticipated to triple or quadruple over the next few years. This patent purchase further solidifies our commitment to technology leadership in this fast growing market.”
The purchased patent portfolio comprises approximately 850 U.S. and foreign patents and patent applications. The intellectual property includes numerous granted patents of key CMOS technologies covering early and fundamental CMOS image sensor work; improvements on foundational architectures, including new features and functions; and next generation performance improvements, miniaturization and cost reduction technologies.
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