Consumer electronics producer Samsung is in advanced discussions over a $150m to $160m acquisition of Israel-based portfolio company and smartphone camera technology producer Corephotonics, Globes has reported.
Founded in 2012, Corephotonics provides dual-camera technology for smartphones that combines superior picture quality with professional-grade features. Its offering includes software applications designed to handle low-level lighting and optical zoom in both photography and video.
The company has attracted more than $50m in funding to date including $15m in a 2017 series C round featuring Samsung, manufacturing services provider Foxconn, chipmaker MediaTek, an undisclosed smartphone technology producer, Mizmaa Ventures and Beijing Singularity Power Investment Management.
Corephotonics had previously secured $17.8m in a 2015 series B round backed by Samsung unit Samsung Ventures, telecommunications firm SK Telecom, SanDisk Ventures and Western Digital Capital, respective subsidiaries of memory storage producer SanDisk and hard disk maker Western Digital.
Amiti Ventures, Magma Venture Partners, Horizon Ventures and BetaAngels Partners co-led the series B, which also featured LSG Industrials, OurCrowd, CE Ventures, iVentures Asia and Radiant Venture Capital. Telecoms equipment supplier CK Telecom has also been named as an earlier Corephotonics investor.
The original version of this article appeared on our sister site, Global University Venturing.