OVT's Acquisition of China WLCSP Ltd. Makes Successful Exit of Infinity-CSVC
Infinity-CSVC, a risk investment foundation of Israel, announced lately that it sold out all its shares in China Wafer Level CSP Ltd. to OmniVision Technology Co. (OVT) at the package price of USD 22 million, which is the second instance of Infinity-CSVC's successful disengagement.
Back in June 2005, Infinity-CSVC and China-Singapore SIP Venture Co., Ltd. jointly set up China Wafer Level CSP Ltd. (China WLCSP Ltd.) with a total investment of USD 65 million.
WLCSP Ltd. is a specialized semiconductor enterprise engaged in CCD and CMOS wafer-level packaging, with the world's only ShellOC production line, whereas OmniVision Co. is an independent supplier of CMOSCamera Chips TM solutions for CCD and CMOS applications, with advanced development of single ships for all video functions.
Infinity is an Israeli-controlled joint venture engaged in venture investment in collaboration with American partners, and its business spreads across New York, Washington, and Tel Aviv with USD 250 million fund and over 50 companies under its management.
In June 2004, by the initiative of Israeli Prime Minister Ehud Olmert and Chinese Vice-premier Wu Yi, Infinity, CSVC, and Suzhou Industrial Park jointly established Infinity-CSVC foundation, which has so far invested in 6 companies. In 2005, Infinity-CSVC sold 51% of its shares of NanoMotion to China Dechang Electrical Machinery Company, and announced the first instance of its successful disengagement.
Based on the success of Infinity-CSVC foundation, the second China-Israel foundation, the InfinityIII is attracting investors from the very outset, and it completed the first-stage fund raising in May 7, achieving a financial facility of USD 155 million and overrun the original target of USD.
May 25, 2007