TheStreet: Two years after attempting to become a player in the cell phone and automotive-image-sensor business, Cypress is calling it quits.
The San Jose, Calif., chipmaker announced Wednesday that it is selling its SMaL Camera Technologies subsidiary, which it purchased in February 2005 for $42.5 million in cash.
Cypress did not disclose how much it sold the subsidiary for, saying only that the deal is expected to close later this quarter. The buyer is Sensata Technologies, the former sensors and controls division of Texas Instruments.
EETimes: SMaL Camera provides cameras and camera subsystems to automotive advanced driver assistance systems for such customers as Bosch and Delphi. The company has approximately 25 employees.
Yahoo: "Cypress acquired SMaL Camera in February 2005 and with it came great technology to supplement our image sensor business and achieve a stronger position in the market," said Cliff Drowley, vice president of Cypress's image sensor group.
"Our decision to divest the business is based on a strategic shift to focus resources onto our custom image sensor business. We believe that SMaL Camera's automotive imaging technology will complement Sensata's existing strengths in automotive applications."
Drowley said Cypress will retain its growing custom image sensor business in Mechelen, Belgium.
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