28
Thu, Mar
72 New Articles

Herbst Kinsky Advises AMS International on Sale to STMicroelectronics International N.V.

Herbst Kinsky Advises AMS International on Sale to STMicroelectronics International N.V.

Austria
Tools
Typography
  • Smaller Small Medium Big Bigger
  • Default Helvetica Segoe Georgia Times

Herbst Kinsky has advised AMS International AG, a worldwide manufacturer of high performance sensor and analog solutions, on the sale of NFC and RFID reader IP technologies and product lines to STMicroelectronics International N.V. by means of an asset deal. The transaction closed at the end of July 2016. The purchase price was USD 79.3 million (EUR 71.5 million) in cash, plus a substantial deferred earn-out consideration contingent on future results of up to USD 37 million.

AMS is listed on the SIX Swiss stock exchange and has its headquarters in Premstaetten, near Graz, Austria. Key research and development facilities are based in Austria and in Plano, Texas, in the United States (which the firm describes as "a center of excellence in optical sensors"), as well as in sixteen other design centers worldwide. Employing around 2,100 people in over 20 countries, AMS operates direct sales offices in all major regions of the world. The group revenues in 2015 amounted to EUR 623.1 million.

The transaction is part of AMS’s ongoing efforts to actively manage its portfolio of technologies with a clear focus on implementing its sensor solutions strategy. The divestment consists of AMS’ NFC assets, including NFC front-end and antenna boost solutions and integrated HF/UHF RFID reader assets. The related design and marketing resources (including around 50 employees) are mostly based in Premstaetten, Austria, and Ljubljana, Slovenia, and will be transferred to STMicroelectronics. AMS will retain its NFC/RFID wireless tags business and related IP and plans to create wireless sensor solutions for IoT applications combining NFC and RFID connectivity interfaces with its portfolio of sensors.

AMS's in-house team was led by General Counsel Jan Siefken, supported by Legal Counsel Ray King.

The Herbst Kinsky M&A team was led by Partner Phillip Dubsky, supported by Attorneys Sonja Hebenstreit, Philipp Baubin, Tanja Lang, and Alina Regal, and Associates Carl Walderdorff and Alexander Weber. Jean Jacque Ah Choon and Lorenzo Olgiati from Schellenberg Wittmer acted as local counsel for AMS AG regarding Swiss law.

Herbst Kinsky informed CEE Legal Matters that it was not authorized to identify counsel for the buyers on the deal.

Image Source: ams.com

Our Latest Issue