Camera module maker Cammsys said on Thursday that it will merge with security solution subsidiary BEFS.
BEFS offers fingerprint readers and network security solutions. The company is planning to sign supply contracts to supply its fingerprint readers with major customers, Cammsys said.
BEFS was acquired by Cammsys back in 2014.
Cammsys said the merger is being done to increase synergy between its security business and IT component and electric vehicle businesses.
BEFS’ fingerprint reader can be applied to Cammsys’ car start buttons and door locks as well as be supplied for use in smartphones.
Cammsys is close to signing a supply deal for the readers with a local module company, people familiar with the matter said. The readers will be supplied to Vietnamese smartphone maker VinSmart next year.
The merger will be completed in April 1, 2021 after the motion gets the board’s approval.
Cammsys is a supplier of camera modules to Samsung Electronics for smartphones.
