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Wednesday, January 09, 2019

Samsung Rumored to Acquire Corephotonics for $150m

Globes, CTech, JNS report that Samsung is in talks to acquire Corephotonics for $150m. In 2016, Samsung and its investment branch, invested $15m in Corephotonics. So far, Corephotonics has raised $50m.

A year ago, Corephotonics sued Apple for alleged infringement on its dual camera zoom patents. Half a year ago, Corephotonics filed a second lawsuit.

Corephotonics has licensed its dual camera technology to Oppo and Xiaomi.

Corephotonics CEO David Mendlovic said in response to rumors “Samsung is an investor in our company. They have expressed interest by investing in us. There is nothing concrete [about an acquisition] at this stage. We will be happy to inform the public when we know anything.”

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3 comments:

  1. AnonymousJanuary 10, 2019 at 9:21 AM

    I guess the fact that their lawsuit against Apple was stayed because three of their patents are under inter partes review (IPR) and for the remaining two a petition for IPR has been filed dropped the price tag significantly and made them more acceptive to an acquisition. A 3x upside after seven years (17% CAGR) is not much to write home about.

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    Replies
    1. Eric R FossumJanuary 10, 2019 at 12:54 PM

      Not a classic 10x VC homerun but better than a sharp stick in the eye. I would be happy.

      Delete
  2. AnonymousJanuary 10, 2019 at 3:33 PM

    Unless there would have been serious down rounds, it looks like it is a 10x return for the initial investors? Return is inevitably lower for later investment rounds. I think it's a pretty decent return in 7 years.

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