Cypress Semiconductor Corp. (San Jose, CA) announced that it has signed a definitive agreement to acquire FillFactory NV (Belgium), a leader in active pixel CMOS image sensor technology. FillFactory offers a variety of high-performance custom and standard products for some of the industry's most advanced digital photography, high-speed imaging, machine vision and automotive applications.
Under the terms of the acquisition, Cypress agreed to pay $100 million in cash for FillFactory. The transaction, which is targeted to close in the 2004 third quarter, is expected to be accretive to Cypress's pro-forma earnings. Cypress expects the acquisition to be accretive in 2004, excluding the cost of acquisition-related intangibles. FillFactory posted sales of $6 million and profit before tax of $1.3 million in the quarter ended March 31, 2004.
