JERUSALEM, July 27 Israeli chipmaker TowerJazz (TSEM.TA) has agreed a deal to provide high-end chips to Cypress Semiconductor (CY.O) for use in industrial image sensors, the companies said on Tuesday. The deal will see TowerJazz's 0.18 micron chips used in Cypress Semiconductor's 25 megapixel industrial image sensors for the high-end machine vision market, the companies said.
Terms of the deal were not disclosed but a market source said TowerJazz (TSEM.O) would reap tens of millions of dollars a year in revenue over the next few years.
The companies noted that the forecast for image sensors used in the industrial market is expected to reach nearly $840 million by 2014. (Reporting by Steven Scheer; editing by Simon Jessop)