ON Semiconductor announced on April 2, 2014 that it has signed a definitive agreement to acquire Truesense Imaging, a former Eastman Kodak company acquired in 2011 by Los Angeles-based Platinum Equity LLC, for $92 million. Truesense Imaging, formerly part of Eastman Kodak, was acquired by Los Angeles-based Platinum Equity in 2011, and its primary products are CCD image sensors and, to a lesser extent, CMOS image sensors.
Truesense Imaging develops and manufactures image sensor devices for commercial, industrial and professional imaging applications, including machine vision, surveillance, traffic monitoring, medical and scientific imaging and photography. Based on unaudited results, Truesense Imaging generated revenues of approximately $79 million in 2013, with gross and operating margins of approximately 441 TP3T and 231 TP3T, respectively.ON acquired Truesense Imaging primarily to expand its business in image sensors. After the acquisition, Truesense Imaging will be integrated into ON Semiconductor's Application Products Group division.