Vishay Intertechnology of Malvern says it is strengthening its optical sensors market with the just-announced $205 million acquisition of Taiwan-based Capella Microsystems, Inc.

“We are excited to announce this deal with Capella, a leading IC design company for optical sensors,” said Marc Zandman, Vishay’s executive chairman and chief business development officer.

“Capella’s strong market position for optical sensors complements Vishay’s current capabilities in this field very well. The acquisition fits perfectly our strategy of supplementing our organic Growth Plan through targeted specialty acquisitions.”

Vishay, one of the world’s largest manufacturers of discrete semiconductors and passive electronic components, intends to acquire Capella first through a tender offer of up to 100 percent of Capella’s outstanding shares at a price of NT$139 per share.

The tender offer is conditioned upon at least a majority of the outstanding shares being tendered. If a majority, but less than 100 percent, of the outstanding shares are tendered, Vishay will complete the acquisition of Capella by merger, likely by Sept. 1.

“Capella will add crucial technological capabilities to our successful and growing ‘opto’ business that we do not have in-house,” said Dr. Gerald Paul, Vishay’s president and chief executive officer.

“It will considerably strengthen Vishay’s position in the fast growing market for optical sensors and significantly reduce our time to market for these products. We are confident that as part of Vishay Capella will be able to extend its deep customer reach to other market segments.”

Pepper Hamilton LLP and Lee and Li, Attorneys-at-Law, acted as legal counsel to Vishay. Oppenheimer & Co. acted as exclusive financial advisor and Jones Day was legal counsel to Capella.

Capella is a fabless IC design company which specializes in optical electronic related products. Applications of Capella’s products include telecommunications, mobile phones, Smartphone, handheld devices, digital cameras, laptops, desktop computers, LED backlighting, office automation equipment, household electrical appliance and automotive electronics. The company’s principal product categories include ambient light sensor, IrDA, optical encoder, PDIC, proximity sensor, color sensor and UV sensor.