NUREMBERG, Germany--(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.
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.
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