VIA optronics AG Incorporates New Entity, VIA optronics (Philippines), Inc., for Design and Development of Camera Solutions
December 14 2021 - 7:00AM
Business Wire
VIA optronics AG (NYSE: VIAO) (“VIA”), a leading supplier of
interactive display systems and solutions, today announced that it
has incorporated a new entity in the Philippines, VIA optronics
(Philippines), Inc. (“VIA Philippines”), to provide customized and
platform camera solutions, from design and development to process
testing and quality control. VIA Philippines was incorporated to
facilitate the integration of a camera design and development team
that was previously a part of Integrated Micro-Electronics, Inc.
(“IMI”), a Philippines-based company and VIA shareholder. Through a
Service and Support Agreement (the “Agreement”), IMI has provided
development support services through this team to the Company’s
subsidiary, VIA optronics GmbH since January 2019. The Agreement
will terminate on December 31, 2021 and the camera design and
development team will formally become a part of the Company in
January 2022, with approximately 20 employees joining VIA.
“Our new entity in the Philippines delivers highly optimized and
customized solutions that serve the needs of automotive OEMs,
especially as new standards emerge, and requirements continue to
grow. We’re thrilled to bring further innovation to life and drive
solutions for the mobility needs of tomorrow,” said Jürgen Eichner,
VIA’s Chief Executive Officer.
VIA’s technologies for interactive display systems combined with
camera solutions are aligned with automotive trends like next
generation cockpits, advanced driver-assistance systems (“ADAS”),
autonomous driving and electric mobility. The automotive camera
market is growing, driven by the increased focus on vehicle safety
and security requirements. Automotive cameras are designed to
ensure that the driver and vehicle can work together
flawlessly.
VIA’s camera solutions meet a range of design requirements,
including extreme space saving outline dimensions,
ultra-lightweight design, high dynamic range, low light performance
as well as flare reduction and defrosting capabilities. The primary
applications for VIA’s camera solutions include e-mirrors, which
replace traditional mirrors, front sensing, rear-view,
forward-looking surround view cameras as well as cameras to
facilitate driver monitoring. The camera modules work in
conjunction with other sensor types, including radar, light
detection and ranging (“LIDAR”), and ultrasound to enable new
levels of safety, comfort, and convenience together with advanced
driver-assistance system functionality.
About VIA:
VIA is a leading provider of enhanced display solutions for
multiple end-markets in which superior functionality or durability
is a critical differentiating factor. Its customizable technology
is well-suited for high-end markets with unique specifications as
well as demanding environments that pose technical and optical
challenges for displays, such as bright ambient light, vibration
and shock, extreme temperatures and condensation. VIA’s Interactive
Display Systems combine system design, interactive displays,
software functionality, cameras and other hardware components.
VIA’s intellectual property portfolio, process know-how, and
optical bonding and metal mesh touch sensor and camera module
technologies provide enhanced display solutions that are built to
meet the specific needs of its customers.
Further information on the Company can be found in its Annual
Report on Form 20-F for the year ended December 31, 2020 (the
“Annual Report”), which the Company has filed with the U.S.
Securities and Exchange Commission. You can access a PDF version of
the Annual Report at VIA’s Investor Relations website,
https://investors.via-optronics.com/investors/financial-and-filings/annual-reports/default.aspx.
A hard copy of the audited consolidated financial statements can
also be requested free of charge by contacting the investor
relations team via the information provided below.
Forward-Looking Statements
Statements in this press release about future expectations,
plans and prospects, as well as any other statements regarding
matters that are not historical facts, may constitute
“forward-looking statements.” These statements include, but are not
limited to, statements relating to the expected trading
commencement and closing dates. The words, without limitation,
“anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,”
“intend,” “may,” “plan,” “potential,” “predict,” “project,”
“should,” “target,” “will,” “would” and similar expressions are
intended to identify forward-looking statements, although not all
forward-looking statements contain these or similar identifying
words. Forward-looking statements are based largely on our current
expectations and projections about future events and financial
trends that we believe may affect our financial condition, results
of operations, business strategy, short-term and long-term business
operations and objectives, and financial needs. These
forward-looking statements involve known and unknown risks,
uncertainties, changes in circumstances that are difficult to
predict and other important factors that may cause our actual
results, performance or achievements to be materially different
from any future results, performance or achievements expressed or
implied by the forward-looking statement, including, without
limitation, the risks described under Item 3. “Key Information—D.
Risk Factors,” in our Annual Report on Form 20-F as filed with the
US Securities and Exchange Commission. Moreover, new risks emerge
from time to time. It is not possible for our management to predict
all risks, nor can we assess the impact of all factors on our
business or the extent to which any factor, or combination of
factors, may cause actual results to differ materially from those
contained in any forward-looking statements we may make. In light
of these risks, uncertainties and assumptions, the forward-looking
events and circumstances discussed in this release may not occur
and actual results could differ materially and adversely from those
anticipated or implied in the forward-looking statements. We
caution you therefore against relying on these forward-looking
statements, and we qualify all of our forward-looking statements by
these cautionary statements. Any forward-looking statements
contained in this press release are based on the current
expectations of VIA’s management team and speak only as of the date
hereof, and VIA specifically disclaims any obligation to update any
forward-looking statement, whether as a result of new information,
future events or otherwise.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20211214005364/en/
Investor Relations for VIA optronics:
The Blueshirt Group Monica Gould Monica@blueshirtgroup.com
+1-212-871-3927
Lindsay Savarese Lindsay@blueshirtgroup.com +1-212-331-8417
Media:
Alexandra Müller-Pl�tz AMueller-Ploetz@via-optronics.com
+49-911-597 575-302
VIA optronics (NYSE:VIAO)
Historical Stock Chart
From Mar 2024 to Apr 2024
VIA optronics (NYSE:VIAO)
Historical Stock Chart
From Apr 2023 to Apr 2024