Herbst Kinsky advised ams AG on the sale of NFC and RFID reader product lines to STMicroelectronics
Herbst Kinsky attorneys at law advised ams International AG, a leading worldwide manufacturer of high performance sensor and analog solutions, on the sale of NFC and RFID reader IP, technologies and product lines to STMicroelectronics International N.V. by means of an asset deal. The transaction was closed end of July 2016. The purchase price is USD 79,3 mio. (EUR 71,5 mio.) in cash, plus a substantial deferred earn-out consideration contingent on future results of up to USD 37 million.
ams is listed on the SIX Swiss stock exchange and has its headquarter in Premstaetten near Graz, Austria. Key research and development facilities are based in Austria and in Plano/Texas (USA), a centre of excellence in optical sensors, and in sixteen other design centres worldwide. Employing around 2,100 people in over 20 countries, ams operates direct sales offices in all major regions of the world. The group revenues in 2015 amounted to EUR 623.1 million.
The transaction is part of ams’ ongoing efforts to actively manage its portfolio of technologies with a clear focus on implementing its sensor solutions strategy. The divestment comprises ams’ NFC assets, including NFC front-end and antenna boost solutions, and integrated HF/UHF RFID reader assets. The related design and marketing resources are mostly based in Premstaetten, Austria, and Ljubljana, Slovenia, and include around 50 employees which will be transferred to STMicroelectronics. ams will retain its NFC/RFID wireless tags business and related IP and plans to create wireless sensor solutions for IoT applications combining NFC and RFID connectivity interfaces with its portfolio of sensors.
The in-house legal team of ams was led by General Counsel Jan Siefken supported by Legal Counsel Ray King. The Herbst Kinsky M&A team was led by Phillip Dubsky supported by Sonja Hebenstreit (IP), Philipp Baubin (M&A), Tanja Lang (Employment), Alina Regal (M&A), Carl Walderdorff (M&A) and Alexander Weber (M&A). Jean Jacques Ah Choon and Dr. Lorenzo Olgiati from Schellenberg Wittmer acted as local counsel for ams AG regarding Swiss law.