On March 18th, the Austrian semiconductor company ams AG signed a contract with Wise Road Capital LTD, a Chinese company, under which the two parties will jointly establish a joint venture.
AMS mentioned that some employees, intellectual property, sensor products and solutions, and related customers will be transferred to the joint venture. Wise Road Capital will provide AMS with professional joint venture guidance, in-depth market knowledge and the advantages of channel and customer relationships, especially for the China region.
AMS said it will transfer its current portfolio of environmental sensor solutions, including air quality, relative humidity and temperature sensing, which can be used in automotive, smart building and air quality monitoring infrastructure applications. In addition, AMS also stated that its ultrasonic-based flow sensor solutions and pressure sensor solutions will be part of the new company portfolio.
The investment included in the agreement is valued at approximately $120 million for the joint venture and is expected to be completed in the fall of 2019.