Samsung to acquire Israeli smartphone camera company
search

Samsung to acquire Israeli smartphone camera company

Telephone giant signs deal to buy Corephotonics Ltd. in move worth approximately £117m

Samsung shop front. (Source: Wikimedia Commons. Raysonho @ Open Grid Scheduler / Grid Engine)
Samsung shop front. (Source: Wikimedia Commons. Raysonho @ Open Grid Scheduler / Grid Engine)

Samsung has signed a deal to acquire the Israeli smartphone camera company Corephotonics Ltd.

Calcalist reported the sale on Monday, citing the lsraeli law firms that represent both companies. It first reported earlier this month that Samsung was considering the acquisition.

The deal is worth £117m ($155 million), Calcalist reported, citing an unnamed person familiar with the deal.

Samsung previously has been an investor in Corephotonics, participating in two out of three of the company’s funding rounds. All three rounds raised $38 million.

The company, founded in 2012, develops dual lens camera technologies designed to improve the performance of smartphone cameras.

In 2017 , the company reportedly filed a lawsuit against Apple Computers for using its technology without authorisation in the iPhone 7 plus and the iPhone 8 plus.

read more:
comments