Germany-based industrial conglomerate Siemens’ corporate venturing unit has exited its investment in SensorDynamics after the portfolio company was acquired by Nasdaq-listed Maxim Integrated Products.
Maxim has agreed to pay $130m, excluding $34m of debt, for Austria-based SensorDynamics, which develops sensors for cars.
SensorDynamics’ largest investor is I4G Investment, which manages money for Austrian family offices and private foundations, with Siemens Venture Capital named as the second backer followed by a number of local private investors, according to SensorDynamics’ website. These other investors are: Deutsche Effecten- und Wechsel-Beteiligungsgesellschaft, Steirische Beteiligungsfinanczierungsgesellschaft, Pontis Capital, Fidura Private Equity Funds, Steirischer Technologie- und Wachstumsfonds and Quantensprung Group.
Siemens had been an initial investor in SensorDynamics and contributed to its €25m ($37m) series B round in December 2007 and said it raised an undisclosed amount in February this year.