Global private equity firm Wise Road Capital Ltd. will form a joint venture with ams AG, a supplier of sensor solutions, in a deal that includes an investment valuing the partnership at about US$120 million.
Focused on the semiconductor industry as well as other emerging high-tech industries, Wise Road will advise the joint venture business, to which ams will transfer its employees, intellectual property, sensor products and solutions as well as related customers.
The agreement, slated to close in the fall, is aimed at accelerating the development and sales of ams' environmental, flow and pressure sensor solutions for the global market, particularly in China.
Stefan Raible, general manager of the environmental sensors business at ams, will serve as managing director of the new Netherlands-based company.