Amimon, an Israel-based chipmaker that counted communications technology provider Motorola and manufacturing services firm Hantech as investors, has been bought by video and photography products producer Vitec for $55m in cash.
Founded in 2004, Amimon designs and develops wireless video transmission chipsets which are primarily used for professional filmmaking and high-end productions.
London Stock Exchange (LSE)-listed Vitec produces video and photography products such as teleprompters and auto scripts, camera stands, monitors, lighting products and other accessories.
Vitec said it expects to invest a total of $59.9m in the acquisition following employee retention, deal and integration costs. Amimon posted a loss of $700,000 in 2017 from revenue of $18.6m, according to Vitec’s notice to the LSE.
Vitec has already integrated Amimon into its Creative Solutions division and is working with the company to design and manufacture new products for adjacent markets. Amimon’s chief technology officer and co-founder Zvi Reznic is remaining with the company.
Amimon had raised $69m according to media reports and regulatory filings, including $15m in a 2011 round that included Hantech International Venture Capital and Motorola Ventures, respective vehicles for Hantech and Motorola prior to its split into Motorola Solutions and Motorola Mobility.
Motorola Ventures had invested an undisclosed sum in the Amimon in 2007 following $14m from Stata Venture Partners, Argonaut Private Equity, Cedar Fund, Walden Israel and Evergreen Partners the year before. Its other investors include Walden Israel and Amiti Ventures.