Context of the acquisition
AKM is accelerating the development of business utilizing invisible optics (ex. IR and UV) based on its core technology for compound semiconductors. Featuring small size, high sensitivity, and high quality, AKM’s infrared (IR) light emitting elements and detectors are increasingly used in gas sensors which detect gas concentration, meeting growing needs for air quality monitoring in indoor environments such as homes, offices, and factories. Business for CO2 sensors is expected to grow rapidly in relation to measures for preventing global warming.
In 2016, AKM signed a joint development agreement with Senseair, which has a 25-year track record in the field of Swedish provider of air and gas sensing technologies. The two companies have collaboratively worked on the development of new CO2 sensors by combining Senseair’s optical path design technology and manufacturing know-how for gas sensors with AKM’s small, high-quality IR light emitting elements and detectors. One fruit of this joint development effort is a next-generation sensor featuring ultra-low power consumption that Senseair will soon launch.
Objective of the acquisition
The acquisition will make it possible for the two companies to more deeply integrate their technological knowledge and market networks. AKM expects that this will enable an expansion of business activities in the market for air, gas, and alcohol sensors, where rapid growth is forecasted.
Outline of the acquisition
AKM concluded a share acquisition agreement with the current major shareholders of Senseair, including its founder. In accordance with the agreement, AKM will issue an offer to acquire Senseair shares from other shareholders. If the number of shares held by such shareholders that agree to AKM’s offer combined with the number of shares held by major shareholders and by Asahi Kasei Corp. exceeds 90% of Senseair›s issued shares, AKM will acquire that number of shares on April 4, 2018. Subsequently, AKM will implement a procedure under Swedish corporate law to acquire the remaining shares, ultimately resulting in acquisition of all shares of Senseair.
Corporate profile of Asahi Kasei group.
- Total assets
Corporate profile of Senseair AB
22 MEuro (unaudited)
Sweden, Germany, United States, China
Linda Hammaström Löfstrand, CFO Senseair
Peter Lagesson, CEO Senseair