Photobit, Basler AG Form Strategic Alliance

PASADENA, Calif., Sept. 24 -- Photobit Corp., a supplier of CMOS image sensors, and Ahrensburg, Germany-based Basler AG report the formation of a strategic alliance. The companies have signed an agreement calling for Photobit to develop advanced CMOS image sensors for integration into Basler's machine vision systems. Basler, in turn, will make an $11.7-million strategic equity investment in Photobit -- the equivalent of a 16 percent stake -- and gain a seat on the firm's board of directors.
This alliance strengthens our presence in machine vision, where Basler is a leader, and lets us focus on our consumer electronics markets of PC videoconferencing, digital still cameras, and video cellphones, said Sabrina Kemeny, Photobit CEO.