OmniVision acquisition cleared by Committee on Foreign Investment in United States

OmniVision Technologies, Inc. (NASDAQ: OVTI) said it has 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., and determined that there are no unresolved national security concerns with respect to the proposed acquisition.

The proposed acquisition remains subject to the receipt of certain foreign antitrust and regulatory approvals, as well as other customary closing conditions. OmniVision expects the proposed acquisition to close in the third or fourth fiscal quarter of fiscal year 2016.

OmniVision Technologies, Inc. is a leading developer of advanced digital imaging solutions. Its CameraChipâ„¢ and CameraCubeChipâ„¢ products are highly integrated, single-chip CMOS image sensors for consumer and commercial applications, including mobile phones, tablets and entertainment devices, notebooks and webcams, security and surveillance systems, digital still and video cameras, automotive and medical imaging systems.