News: Xenics acquired by Photonis; Omnivision to cut costs

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Xenics acquired by Photonis

Infrared imager maker, Xenics, has been acquired by Photonis, a manufacturer of electro-optic components.

Photonis’ components are used in the detection and amplification of ions, electrons and photons for integration into a variety of applications such as night vision optics, digital cameras, mass spectrometry, physics research, space exploration and many others. The addition of Xenics will bring high-end imaging products to Photonis’ B2B customers.

Jérôme Cerisier, CEO of Photonis, said: “We are thrilled to welcome Paul Ryckaert and the whole Xenics team in Photonis Group. With this acquisition, we are aiming to create a European integrated leader in advanced imaging in high-end markets. We will together combine our forces to strengthen our position in the infrared imaging market.”

Xenics employs 65 people across the world and its headquarters based in Leuven, Belgium.
Paul Ryckaert, CEO of Xenics, said: “By combining its strengths with the ones of Photonis Group, Xenics will benefit from Photonis expertise and international footprint which will allow us to accelerate our growth. It is a real opportunity to boost our commercial, product development and manufacturing competences and bring even more added value to our existing and future customers.” 

[Post title has been corrected as of January 8. Thanks to the commenters for pointing it out. Apologies for the error. --AI]

OmniVision to cut costs 

According to domestic media reports, the world's top ten IC design company China Weir Semiconductor, and its CMOS image sensor subsidiary OmniVision recently announced that it will stop recruiting new employees, reduce salaries for senior management, stop work during the Spring Festival, and stop distributing various items. The bonus will be used to reduce the capital expenditure in 2023 by 20% in response to the impact of the current bad environment on the company's operations. 

The report pointed out that according to the internal documents released by OmniVision Technology, the company has announced cost control, and the goal is to reduce costs by 20% in 2023! OmniVision said, "The current market conditions are very severe. We are facing great market challenges. Prices, inventories and supply chains are all under great pressure. Therefore, we must carry out cost control, and the goal is to reduce costs in 2023. 20%."

In order to achieve the goal of cost reduction, OmniVision announced that it will take a series of measures, including stopping all recruitment, no replacement for resignation, salary reduction for senior management, suspension of work in all regions of the group during the Spring Festival, suspension of quarterly bonuses and any other forms Bonuses, tight controls on spending, and some research and development programs will also reduce spending. OmniVision emphasized, "These measures are temporary. We believe that business-level improvements will occur in the second half of 2023, because we have a new product layout in the consumer market, while automobiles and emerging markets are rising steadily. We will be in 2023 The situation will be reassessed by the end of the first quarter of 2020."

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