Innovation Trends in the Smartphone Camera Market
Friday, October 20th 2017
The recent launch of new flagship smartphones confirmed that the camera remains the key means of differentiation between brands. All brands have innovated and there have been some common approaches to improving the camera functionality:
Wider Use of Dual Cameras
Dual cameras feature on nearly every flagship smartphone. Aside from the well-known Bokeh effect dual cameras provide better zoom, dynamic range and low-light performance than single aperture devices.
More Sensitive Image Sensors
The improvement in image sensors has shifted from increasing pixel count to making them more sensitive or providing them in pairs. Greater sensitivity improves low-light performance, whereas dual pixels provide improvements to dynamic range.
Faster Image Processing
Enhanced image processing capabilities are being used to combine several images to give better results or to recognise what is being photographed and set the camera accordingly.
Use of Glass and Hybrid Glass Lenses
As sensors improve the quality and size of lens elements is also improving. However, such lenses are heavier, and manipulating these lenses needs higher forces than currently employed.
Wider deployment of Optical Image Stabilisation (OIS)
Concomitant with the innovations above, OIS has been introduced more widely to take advantage of low-light performance or to facilitate the capture of multiple images. The first dual cameras with OIS have been introduced as well as OIS on a front facing camera.
CML believes that innovation in the smartphone camera market will continue. CML expects the number of cameras per smartphone to continue to increase and that OIS will feature on every lens. As smartphone form factors converge towards sleek feature free devices, the ability to deliver lens actuation in a compact low-profile design will become increasingly important. The move to heavier lenses is a challenge for most actuators, but is within the performance envelope of SMA.
Smartphone Camera Market Forecast to Continue Growth
Friday, October 13th 2017
A recent report from a business analyst of a leading investment bank* contains some illuminating forecasts for the smartphone camera market. The report predicts increasing adoption of dual cameras in the smartphone market and forecasts greater than 40% CAGR to 2020 for dual camera shipment for all but one of the major handset vendors, with an overall market shipment CAGR of 62%. The report expects near 100% adoption in the premium sector from the leading brands.
CML believes that the adoption of dual cameras in smartphone handsets will swiftly move from a means of differentiation to a technology that is required to satisfy customer expectations. CML therefore expects dual cameras to penetrate beyond the premium sector fuelling longer term unit growth.
*A detailed analysis of Sunny Optical can be obtained by contacting Deutsche Bank.
Prof. Peter Cawley Joins Advisory Board
Thursday, October 5th 2017
CML is delighted to announce that Professor Peter Cawley has joined Cambridge Mechatronics’ Advisory Board.
Peter is Head of the Mechanical Engineering Department at Imperial College, London. He is a Fellow of both the Royal Society and the Royal Academy of Engineering. It is a rare honour for a scientist to be a Fellow of both the Royal Society and the Royal Academy of Engineering, which are the UK’s most prestigious bodies for the promotion of excellence in science and engineering.
Alongside his distinguished academic career, Peter has a strong track record of transferring the technology and innovation from his research into commercial activity, including leading two spin-out companies that have commercialised his intellectual property to financial success.
Martin Knight Executive Chairman of CML commented: “We are very pleased to be working with one of the UK’s most eminent mechanical engineers as we look to build more applications for our platform technologies.”
Sunny Comments on Billu's License Agreement with CML
Friday, September 22nd 2017
Sunny Optical, one of the world’s largest manufacturers of miniature cameras for smartphones, wearables and automotive have reacted positively to the recent announcement of CML's license agreement with actuator manufacturer Billu:
Cerberus Wu, Sunny's Senior Marketing Director said, ‘We are very pleased that Billu have reached an agreement to produce SMA actuators under license from CML. Sunny believes that SMA actuators have a bright future, because of their capability for miniaturisation, power efficiency and cost reduction. Sunny have a close working relationship with both CML and Billu and this partnership will enhance the range and value of the products we are able to offer our customers.’
Dominic Webber, CML's Director of Marketing commented, ‘CML is delighted with this endorsement and we look forward to continuing our strong relationships with both Sunny and Billu. The recent trend for the use of dual OIS cameras for premium handsets plays to the strength of SMA OIS actuators and we expect it to drive demand for actuators of this type. We are excited by the opportunities this partnership brings.’
About Sunny Optical: Sunny Optical are one of the world’s largest manufacturers of miniature cameras and supply cameras to a number of leading smartphone handset vendors.
About CML: Cambridge Mechatronics is a high technology design and engineering company based in Cambridge, specializing in developing cutting edge shape memory alloy technology.
The Future of the Smartphone Camera Market
Wednesday, September 13th 2017
Yesterday’s event to launch the iPhone X marked the end of the recent season of flagship smartphone launches by the industry's two largest smartphone vendors. The new devices give some insight into the future of the smartphone camera market.
Apple and Samsung have both introduced handsets with dual cameras with the OIS function on both apertures in an effort to widen the range of photographic techniques that can be used. It remains the case that the quality of the camera is used as a key means of product differentiation in the premium smartphone sector.
The introduction of face recognition by Apple also confirms a further trend: the number of optical devices per smartphone is increasing. Face recognition relies on 3D mapping technology, which requires the use of six optical devices. It is expected that other vendors will follow suit, and add devices to improve face recognition and augmented reality.
CML believes that innovation in the smartphone camera market will continue to fuel strong demand for new products. CML also believes that the increase in the number of OIS controlled cameras and other optical devices per smartphone means that the growth rate in the miniature camera market will outpace the growth in the smartphone market. This strong market demand is good news for CMLs core business.
CML Expands Premises in Response to Growth
Friday, September 8th 2017
CML has doubled the size of its premises to continue its growth after a series of recent business achievements:
- CML licensed actuators have passed the rigorous handset qualification programme of one of the top three global handset brands.
- CML has signed its fourth license deal for the production of its SMA actuators with a leading Chinese smartphone camera actuator manufacturer.
- The first product containing a CML licensed SMA actuator has been released in the wearables market sector.
- Good progress has been made in the haptics, medical and FMCG market sectors.
CML's need for increased office, laboratory, testing and administrative space is a reflection of the significant interest in CML's technology now being evidenced in the market. To cater for this, CML is also adding further top quality technical staff to its team of world class engineers, so that the future demands of the fast-paced, highly innovative smartphone market place are satisfied, without compromise to the excellent support it gives existing licensees.
CML Signs License Agreement with Leading Chinese Actuator Manufacturer
Thursday, August 31st 2017
Cambridge Mechatronics Ltd (CML) and Shanghai Billu Electronics Co Ltd (Billu) are pleased to announce a new patent licensing agreement covering the use of shape memory alloy (SMA) actuated autofocus (AF) and optical image stabilization (OIS) technologies. This represents the fourth major licensing agreement that CML has agreed for the use of this technology in miniature cameras aimed at the mobile device market.
Andy Osmant, Managing Director of CML said “This license agreement is further confirmation of the growth of SMA actuators in the miniature camera market, and is fitting testament to the quality of our designs and customer support. We are delighted to partner with Billu, who are a respected supplier of high quality products to a number of leading Chinese handset vendors.”
Jianhua Wang, President of Billu said “This is an outstanding partnership that allows us to create further innovative devices for our customers by adding SMA actuators to our product range. Billu endeavours to improve customer experience by delivering best quality products and first-class services to its clients.”
About Billu: Billu designs and manufactures actuators, which are widely used in cameras for mobile phones, medical devices, industrial equipment and wearable smart devices. Billu's customer base includes Huawei, Meizu and TCL. Production capacity at its primary facility in Shanghai is currently twenty million units per month, placing Billu in the top three domestic smartphone actuator vendors.
About CML: Cambridge Mechatronics is a high technology design and engineering company based in Cambridge, specializing in developing cutting edge shape memory alloy technology. Products are taken from concept to mass production through technology licensing or partnerships with global manufacturing corporations.
Lens Makers Put Miniature Camera Market Growth Into Focus
Wednesday, August 23rd 2017
Recent announcements by two large suppliers of optical components into the smartphone market confirm that the miniature camera market continues to grow at a healthy rate.
Sunny Optical, the largest manufacturer of smartphone camera lens in mainland China, reported half year results to the Hong Kong stock
exchange to show net profit for the six months was up 149% compared to same period last year.
Meanwhile world-leading lens manufacturer Largan Precision have announced that production of smartphone camera lens will begin this
quarter in a new $39 million facility. Manufacturing capacity has been increased to satisfy demand from smartphone vendors on the back of the wider adoption of dual camera units in the premium smartphone segment.
CML notes the strong growth of two of the world’s largest camera component manufactures. The number of miniature cameras per smartphone is increasing and therefore CML expects the growth trend in the miniature camera market to continue to outstrip the growth in the smartphone market.
First Wearable Device Released Containing CML Licensed Technology
Tuesday, August 15th 2017
CML is pleased to report the first use of its licensed SMA technology in a ‘wearable’ product. The Front Row wearable camera, launched today, contains CML’s unique patented shape memory alloy actuator technology. CML’s technology has been used to provide Optical Image Stabilisation (OIS), removing the effects of handshake to give a significant improvement in the quality of image.
Analysts expect miniature cameras to feature in an increasing number of wearable devices and the market to grow rapidly. CML’s SMA technology is ideal for applications that require small, lightweight and precise actuation in a high value, low cost package and is therefore ideally suited for use in the wearables market.
More Evidence of Growth in Camera Market
Thursday, August 3rd 2017
Apple revealed that they had sold 41 million iPhones in the last quarter. Through a code release Apple also inadvertently revealed that the next iPhone will include facial recognition using an additional front facing infrared camera.
Sony’s consolidated financial results reported its highest-ever first-quarter operating profit. The profit surge has been driven by sales of Sony’s market leading image sensors, used in smartphone cameras. Sony are set to open additional production facilities that will increase image sensor manufacturing capacity by around 20%, reflecting confidence that the smartphone camera market will continue to grow.
CML thinks these announcements provide further evidence that the high demand for cameras in smartphones remains unabated. The leak that the next iPhone will include a second front camera – taking the number of cameras up to four per smartphone - is in line with most analyst’s view that the volumes for camera modules is set to continue to increase.
It is also noteworthy that camera module ASPs are increasing. In contrast to the view that margins in the smartphone market have been squeezed, particularly in China, the margins attached to smartphone cameras and the high quality optical components that differentiate one smartphone from another remain healthy.
CML Receives Grant to Begin Development of Surgical Instruments
Wednesday, July 26th 2017
Cambridge Mechatronics and the University of Birmingham have received a grant from the UK Government’s Medical Research Council under its “Proximity to Discovery” Programme to work together on the development of a new surgical instrument for bladder cancer surgery. As part of the project CML will contribute to the design of a novel surgical device that makes use of shape memory alloy (SMA) actuation.
Dr Andrea Cantone, CMLs business development manager said "SMA is already used extensively in medical procedures for passive devices such as stents and is already established as fully compatible with the human body. We believe our SMA control technology is ideally suited to the development of medical devices as it allows the design of the small, lightweight, precise and powerful actuated tools needed for modern surgical procedures. We are delighted to be working with the University of Birmingham and are confident that this will be a successful and long-lasting partnership”.
Smartphone Camera Market Set to Continue Growth
Thursday, July 20th 2017
A recent trading update by Sunny Optical, a large manufacturer of electronic equipment listed on the Hong Kong stock exchange, gives hard evidence to the forecast by some analysts of significant growth in the smartphone camera market. Sunny Optical report year on year revenue growth of 77%, with profits up 126%, and position themselves as ideally placed to exploit the trend towards bezel free smartphone designs with high quality camera performance. Underlying these good results are strong sales of camera modules into the Chinese smartphone market, which have been driven by the launch of new models from the likes of Oppo, Xiaomi and Huawei all of which feature higher resolution and better quality dual cameras.
As cameras remain a key means of differentiation in the smartphone market, many analysts are expecting Sunny Optical to maintain high growth, predicting earnings CAGR of 45% for some years to come. CML shares the view that this market provides a significant opportunity and believes that our unique technologies will allow us to thrive in this environment.
Two New Advisory Board Appointments
Friday, June 30th 2017
CML is delighted to announce that Sam Kim and Jorgen Lantto have joined the Advisory Board of CML. Biographical details of both are included in the "Team" website section.
Sam Kim was for many years until 2014, the President of ARM Korea. ARM is well known as the global leader in semiconductor IP business for mobile markets. Martin Knight, Chairman of CML, commenting on his appointment, said:" Sam's experience of commercial activity in S Korea , and particularly in the mobile space, will be most valuable to CML as we grow our business in S Korea."
Jorgen Lantto, as the former CTO and CEO of Fingerprint Card Sa(FPC), brings a wealth of relevant experience to CML: not only in the high tech end of the smartphone market , but also in managing the explosive growth of FPC from a small hardware engineering business to one which had a dominant and highly profitable position in the smartphone market, particularly in China. Martin Knight, Chairman of CML, commented: " Jorgen's understanding of how to manage a business in a period of extreme sales and profits growth , in precisely the market in which CML is operating, will be extremely helpful to CML."
Martin Knight added: "CML is looking forward with great pleasure to working closely with Sam and Jorgen as we seek to grow CML' s activity at the heart of the smartphone market"
CML Opens Three Offices in the Greater China Region
Thursday, June 29th 2017
Due to CML’s rapidly escalating customer activity in the Greater China market, CML has opened three additional offices located in Hong Kong, Shenzhen and Taipei with commercial staff, project managers and engineers, to provide local promotion, sales and technical support for our smartphone camera and haptics products.
“CML recognises the importance of local representation to react quickly and efficiently to customer requests and ensure smooth
information flow. For our products and markets, we need to be in the hub of smartphone and device component development and commerce, hence the selection of the locations of our three new sites”, remarked CML’s Director of Marketing, Dominic Webber. “We have ensured excellent staff have been recruited into our new offices to ensure high quality support and relationship management. We are planning for these offices to grow in size and also open additional facilities throughout this year and the next.”
The General Manager of CML Greater China, Edwin Shiu, commented, “In the highly competitive China smartphone and device market,
genuinely new and breakthrough technologies that can offer a refined user experience, yet still allow miniaturisation and aggressive pricing are highly valued by the industry’s leading brands. CML’s SMA technology has been exceptionally well received by this market, leading to multiple follow-on projects and new enquiries, which are ideally supported in close proximity to the customer sites.”
In order to contact CML Greater China directly by email, please click here.
CML Wins Wearable Haptics Product Award at IDTechEx Conference
Thursday, May 11th 2017
On 10 May, CML presented its new haptics product at Wearable Europe, a conference event as part of the IDTechEx Show! in Berlin. The conference focuses on wearable technologies, applications, and their commercialisation and looks at the capabilities offered by new technologies. It is aimed at the full ecosystem from fashion brands to material providers.
Fifty guests presented at Wearable Europe and CML was shortlisted as one of five keynote speakers. Two companies were honoured for their great achievements in developing and commercialising wearable technology. The judges of the awards were Ms Heidi Dohse from Google and Mr Ben Cooper from VF Corporation.
Mr. Raghu Das, CEO of IDTechEx presented CML with the award for Best New Material or Component Development. Collecting the award for CML was Dr Andrea Cantone, Business Development Manager and remarked,
"We are delighted to have received the IDTechEx Best New Material or Component Development award. There is no better recognition for Cambridge Mechatronics' innovation in the wearable market than one given by a leading research institution such as IDTechEx and their industry experts."
“The judges were particularly impressed with CML’s approach of delivering natural, localised haptic feedback with a miniature form factor – key for the wearable product segment. In combination with the ability to customise the sensation according to users’ preference made CML’s SMA haptics solution the clear winner for this product category,” said Mr Das of IDTechEx.
After establishing itself as a provider of precision SMA actuator platform technology and delivering products in the smartphone and drone camera markets, CML is now launching its new designs for next generation haptics experiences.
CML to Present Keynote Haptics Speech at IDTechEx Conference
Thursday, May 4th 2017
IDTechEx provides independent market research and business intelligence to clients in over 80 countries, and will be hosting the IDTechEx Show! from the 10th to the 11th of May in Berlin. It is the world's largest end-user focused event on emerging technologies and covers wearables, printed electronics, sensors, Internet of Things, 3D printing, graphene, energy storage, electric vehicles and energy harvesting.
Part of the IDTechEx Show! is Wearable Europe – a conference and exhibition focusing on wearable technologies, applications, and their commercialisation. The event looks at the capabilities offered by new technologies and is aimed at the full ecosystem from fashion brands to material providers. Fifty guests will present at Wearable Europe and CML has been shortlisted as one of five keynote speakers.
After establishing itself as a provider of precision SMA actuator platform technology and delivering products in the smartphone and drone camera markets, CML is now launching a new design for a next generation haptic experience. Conventional products provide the user with a feedback sensation by shaking the entire device (smartphone or wearable), resulting in an unnatural effect. CML's solution creates a more sophisticated and nuanced experience by providing a localised feeling. SMA can create strong forces in a limited space without the use of magnetic parts, thus preventing compromise to antennae, audio speakers or NFC components' performance.
During the talk, CML will explain SMA actuator characteristics, its advantages when applied to haptics and how we are taking this technology to the mass market.
CML Shareholder Presentations 28 & 29 March 2017
Thursday, March 30th 2017
Shareholder presentations were made in Cambridge and London on 28 and 29 March. The slides used in these presentations are available to CML shareholders on our website secure portal. Please login to download and view them.
Join Us At Mobile World Congress
Thursday, February 23rd 2017
CML will be attending the Mobile World Congress next week in Barcelona. It is the world’s largest gathering of the mobile industry.
We’ll be there to reveal to current and prospective customers, partners and other members of the mobile ecosystem:
- our latest patented innovations in smartphone cameras
- cameras in other mobile devices
- advanced technology for additional applications, such as haptics.
Kindly contact us if interested in arranging a meeting there.
Drones: flying high in the consumer market
Tuesday, February 14th 2017
The value of the drone market is rising fast. According to Goldman Sachs, it will be cumulatively worth $100 billion by 2020.
There are many potential applications for drones. Investment in them by the military and security forces is rising, while in the commercial market, usage of drones in construction, surveying, and oil pipe inspection, for example, is growing too.
Next-generation consumer drones
Photography and videography are thought to be the key applications for next-generation drones. Mainstream consumer usage is the dream, but safety concerns may prevent very early adoption. However, drones seem to be here to stay, and in increasing numbers.
To expand usage, with flight times of up to half an hour and travelling at speeds of at least 30mph to 40 mph, they will need to be safe and robust, as well as capable of being accurate in navigation to avoid buildings, trees, pylons and other flying objects. They will also need to be small and lightweight with high-precision performance.
Offering exactly these features, CML’s unique smart material technology will shortly ship in high-end consumer drones available to the global market. “We see drones as one of the most exciting new major emerging product trends," commented CML's marketing director Dominic Webber. "We’re delighted to be integral to the development of key components in this high profile segment.”
Innovation And An Invitation: Improving Health and Quality of Life for Diabetics
Thursday, February 2nd 2017
CML will be at the 10th International Conference on Advanced Technologies & Treatments for Diabetes (ATTD), 15 to 18 February.
Worldwide, an estimated 415 million people are suffering from diabetes, a life-long condition that can result in serious complications such as heart disease, stroke, and kidney damage. That total is projected to rise to 642 million by 2040, meaning that one in 10 adults would be diabetic.
Trillion dollar industry
Such a prevalence of disease demands a lot of money spent on treating it. The estimated global healthcare expenditure on diabetes treatment in 2015 came to $935 billion.
Most diabetics need regular injections of insulin. Yet current insulin delivery devices do not offer a satisfactory balance of size, weight, cost and dosing accuracy. Users claim their pumps, pens or syringes are indiscreet, too bulky or uncomfortable to live with.
Equally, most devices that offer both convenience and advanced functionality are prohibitively costly for healthcare providers and insurance policies, both in developed and developing nations.
Revolutionary insulin delivery
To help overcome these blocks – and positively impact the lives of diabetics everywhere – CML is now developing revolutionary next-generation insulin delivery devices. Our unique smart material platform technology allows us to create miniaturised lightweight products for this market at a low cost.
What’s more, our products offer as much precision in insulin delivery – a requirement recognised as critical to managing diabetes – compared even to the most sophisticated of products currently available.
We will be discussing our transformative plans and developments with pharmaceuticals manufacturers and device makers at ATTD 2017 in Paris. If you’d like to arrange a meeting with us there, please contact us to agree a convenient time.
Trend Prediction: Dual and Selfie OIS Cameras
Tuesday, January 24th 2017
TechSpot blogger Tim Schiesser recently posted a very detailed description of his dream smartphone for 2017. He covers all the key features, including display, body, processor, cameras, battery and software.
What really caught our eye was Tim's wish for OIS functionality in both the main dual cameras and the selfie camera. Why? To improve low-light performance, traditionally the weak point of smartphone cameras.
Were Tim’s wish granted widely in premium handsets, it would represent a potential tripling of the overall market size in this segment, to over a billion units per annum – great news for OIS actuator suppliers.
To quote Tim’s wishlist:
- Both rear cameras will feature optical image stabilization to improve low light performance. Both will also be capable of shooting 4K video at 30 FPS, alongside 1080p at 120 FPS and 720p at 240 FPS, with high quality stereo audio.
- The wide angle camera will use an f/1.9 lens, while the zoom camera will use an f/2.2 lens as increasing the aperture of this 72mm lens any further would have led to a larger-than-reasonable camera module.
- The front camera will be another Sony IMX260, this time paired with an f/1.7 24mm lens and OIS.
- The ideal smartphone won’t be the first handset with OIS for its front facing camera (the HTC 10 included this feature), but it’s a smart inclusion that helps deliver the best low light selfies. Again, this sensor would pack 4K video recording.
We understand smartphone makers have already recognised the benefits and demand for dual OIS cameras but hit development issues with conventional products due to magnetic interference between the cameras and also with other critical components – such as loudspeakers and antennae – that compromised picture quality, audio and signal strength.
This is partly why CML SMA OIS products aren’t made with magnets, and simply don’t suffer these issues. Ever.
Camera technology pioneers hTC and Sony are the only smartphone makers so far to have launched selfie OIS cameras. As most major brands continue to increase camera resolutions and specifications, we predict that the selfie OIS will be a significant consumer trend soon.
Monday, January 9th 2017
Amidst CML’s customer meetings, four thousand exhibitors and one hundred and eighty thousand attendees, we reviewed the most popular technology areas of CES, Las Vegas. There were three key product groups attracting the most viewers and interest, and each had increased their occupied floor space significantly since last year.
Drones were on display from twenty six exhibitors with applications ranging from sports coverage to search and rescue. The US market for drones is expected to double this year.
Augmented reality joined virtual reality to double its exhibition size since 2016. Products ranged from glasses to headsets and crash helmets, offering experiences as varied as gaming, shopping and foreign travel.
Nearly one hundred and fifty exhibitors and nine car manufacturers populated the twenty thousand square metres assigned to vehicle technology. Overriding themes were Artificial Intelligence (AI) and autonomy with a number of concept self-driving cars.
CML welcomes the significant investment in these next generation products as they are key target applications for our smart metal platform technology. We look forward to sharing news of our latest projects and partners soon.
CML Licensee TDK Corporation to Acquire Gyroscope Supplier InvenSense
Friday, December 23rd 2016
TDK and InvenSense have entered into a definitive agreement wherein TDK agrees to acquire all outstanding InvenSense shares for a total acquisition price of US$1.3 billion. InvenSense is one of the world’s leading gyroscope manufacturers, with its products used in current and next generation smartphone OIS camera modules. Read more here.
Cambridge Mechatronics at CES, Las Vegas
Tuesday, December 20th 2016
Cambridge Mechatronics will be attending CES, held in Las Vegas from 5 to 8 January 2017. Please contact us if you would like to arrange a meeting. firstname.lastname@example.org
CML to Present at Renesas DevCon China Event
Monday, October 24th 2016
Renesas Electronics Corporation is a world-leading supplier of microcontrollers, analogue power devices and SoC products. On October 27, it will hold the Renesas Electronics Worldwide Developers Conference, gathering together its key customers, partners and developers at the Sheraton Shenzhen Futian hotel.
As part of the event, there will keynote speeches from senior Renesas executives and presentations covering the different major business areas of automotive, industrial, consumer electronics, office automation, and information and communication technology (ICT).
Renesas is one of the three major vendors supplying the leading smartphone brands with OIS camera controller and driver chips. Its products are qualified for use with CML’s SMA OIS actuators and as such, CML has been invited by Renesas to deliver one of the twenty event presentations. CML’s Director of Marketing – Dominic Webber – will discuss its SMA camera products, advantages and roadmap to an audience of smartphone industry professionals.
Renesas Senior Marketing Manager and event co-organiser, Angus Chan remarked, ”We much appreciate CML’s participance in this major Renesas event. CML’s unique SMA OIS solution delivers key advantages to the smartphone camera market and we highly value the strength of our partnership.”
TDK Corporation Announces Completion of Acquisition of CML OIS Licensee
Thursday, October 6th 2016
TDK Corporation (“TDK”, TSE: 6762, Representative Director and President: Shigenao Ishiguro) today announced that TDK had completed its acquisition of Hutchinson Technology Incorporated (“HTI”), a global supplier of critical precision component technologies. Under the terms of the merger agreement, each outstanding share of common stock of HTI was cancelled and converted into the right to receive $4.00 per share, without interest. HTI’s common stock (NASDAQ: HTCH) has ceased trading on the NASDAQ Global Select Market. Nixon Peabody LLP acted as legal advisor to TDK on the transaction and Janes Capital Partners acted as TDK’s financial advisor. HTI was represented on the transaction by its legal advisor, Faegre Baker Daniels LLP, and its financial advisor, BofA Merrill Lynch.
Corporate giant TDK nears completion of acquisition of CML OIS licensee
Wednesday, September 28th 2016
With a workforce exceeding ninety thousand and facilities spanning thirty countries, TDK Corporation is a major supplier of key, high value smartphone components, including camera actuators, to the leading smartphone brands. TDK also supplies products into the automotive, industrial equipment and energy sectors, and is planning new businesses in wearables and healthcare.
In November 2015, TDK announced the planned acquisition of CML SMA OIS licensee Hutchinson Technology Incorporated.
Hutchinson today announced that the U.S. Federal Trade Commission has granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended with respect to the proposed merger of HTI with and into a wholly owned subsidiary of TDK Corporation.
The early termination of the waiting period under the HSR Act satisfies one of the remaining conditions to the closing of the pending merger. The merger is currently expected to close no later than October 5, 2016, and remains subject to other customary closing conditions set forth in the merger agreement.
Details of Hutchinson’s SMA OIS products manufactured under license from CML may be found here.