Electronics giant Samsung is reportedly in talks to acquire the Israeli firm Corephotonics for some $150 million.
Corephotonics, based in Ramat Hachayal, develops multi-aperture camera technologies for smartphones.
Samsung is a major investor in Israeli high-tech companies. In 2016, Samsung and its investment branch, Natures, invested $15 million in Corephotonics. Thus far, Corephotonics has raised $50 million.
Corephotonics was founded by former Chief Scientist at the Science and Technology Ministry Professor David Mendlovic, who serves as CEO; Dr. Gal Shabtay, vice president of Research and Development; and Eran Kali, vice president of licensing.
In response to a query from Israel Hayom, Mendlovic said that “Samsung is an investor in our company. They have expressed interest by investing in us. There is nothing concrete [about an acquisition] at this stage. We will be happy to inform the public when we know anything.”
