March 18, 2019 / 10:44 PM / a month ago

BRIEF-AMS setting up environmental-sensor JV with Wise Road Capital

March 18 (Reuters) - AMS:

* AMS SAYS AMS AND WISE ROAD CAPITAL, A PRIVATE EQUITY FIRM, HAVE SIGNED AN AGREEMENT TO CREATE A JOINT VENTURE TO ADVANCE THE DEVELOPMENT AND SALES OF ENVIRONMENTAL, FLOW AND PRESSURE SENSOR SOLUTIONS FOR THE GLOBAL MARKET

* AMS SAYS EMPLOYEES, IP, SENSOR PRODUCTS AND SOLUTIONS AND RELATED CUSTOMERS WILL TRANSFER FROM AMS TO THE JOINT VENTURE

* AMS SAYS WISE ROAD CAPITAL WILL PROVIDE ITS EXPERT JOINT VENTURE GUIDANCE, DEEP MARKET KNOWLEDGE AND STRENGTH IN CHANNEL AND CUSTOMER RELATIONSHIPS, ESPECIALLY IN CHINA

* AMS SAYS IT WILL TRANSFER ITS CURRENT ENVIRONMENTAL SENSOR SOLUTION PORTFOLIO COVERING AIR QUALITY, RELATIVE HUMIDITY AND TEMPERATURE SENSING, WHICH ARE USED IN AUTOMOTIVE, SMART BUILDING AND AIR QUALITY MONITORING INFRASTRUCTURE APPLICATIONS

* AMS SAYS THE AMS ULTRASOUND-BASED FLOW SENSOR SOLUTIONS, WHERE AMS HOLDS A MARKET LEADERSHIP POSITION IN SMART METERING SOLUTIONS FOR UTILITIES, WILL BECOME PART OF THE NEW COMPANY PORTFOLIO

* AMS SAYS THE AMS PRESSURE SENSOR DEVELOPMENT WILL ALSO BECOME PART OF THE PRODUCT PORTFOLIO

* AMS SAYS THE NEW COMPANY, WHICH WILL BE HEADQUARTERED IN THE NETHERLANDS, WILL BE LED BY STEFAN RAIBLE, WHO WILL SERVE AS MANAGING DIRECTOR

* AMS SAYS THE AGREEMENT ENCOMPASSES AN INVESTMENT VALUING THE JOINT VENTURE BUSINESS AT APPROXIMATELY USD 120 MILLION AND IS EXPECTED TO CONCLUDE IN FALL 2019 Further company coverage:

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