Simpson Thacher is representing Riverwood Capital and TPG Capital in the acquisition of Aptina Imaging from Micron Technology. Riverwood and TPG will contribute significant primary capital to Aptina’s balance sheet, and Micron will continue to manufacture products and provide services for Aptina at its worldwide facilities. As part of the agreement, Micron will retain a 35 percent minority stake in the independent, privately held company.
Aptina is a leading provider of image sensors for cameras, phones and other digital devices. Its customers have included every major mobile phone manufacturer, every major PC brand and several major automotive OEMs. In October 2008, Aptina became a wholly owned subsidiary of Micron.
The Simpson Thacher team working on the transaction includes Michael Nooney, Robert Bartlett, Ryan Nolan, Scott Mollett and Michael Reeves (Corporate), Jeffrey Ostrow, Ivan Rothman and Keren Siman-Tov (Intellectual Property), Sean Austin (Tax), Tristan Brown, Michael Richman and Grace Lin (Executive Compensation and Employee Benefits), Michael Naughton (Antitrust) and Krista McManus (Real Estate). Paralegals Jason Mull and Jesus Villicana also provided valuable assistance.