SmartSens Acquires Allchip, Expands into Automotive Market

PRNewswire: SmartSens Technology has completed acquisition and merger with Shenzhen-based 8-year old Allchip Microelectronics. SmartSens expects its acquisition and integration of Allchip further improve its cost structure and competitiveness in the automotive market while accelerating its innovation in smart car CIS solutions. Allchip products include a series of SOC image sensors that have been widely deployed in automobile cameras and other miniaturized video surveillance applications.

"The increasing adoption of image sensors in automobiles has brought new momentum to the imaging market. According to a projection by research firm Yole Développement, the volume of camera modules in the global automobile market will exceed US$8B by 2025. Our acquisition of Allchip Microelectronics is a strategic move for SmartSens that will significantly broaden our leadership and capacity in addressing this market," said Richard Xu, Founder and CEO of SmartSens. "Our combined advantage -- utilizing shared resources and technologies -- will deliver a true win-win for us and our customers, for years to come."

"We are thrilled to be part of the SmartSens family. We share the same set of core values, which emphasize the pursuit of technology innovation in service of our customers' needs. We look forward to combining Allchip's technical know-how in the automotive industry with SmartSens' excellent business channel to successfully launch class-leading products for Automotive ADAS systems and other smart sensing applications," said Mike Hu, current VP of Technology at SmartSens and former CEO of Allchip. Mr. Hu is a veteran in CMOS image sensor field since his key role in BYD Microelectronics time as the CTO back in ten years ago.