Sensor specialist AMS has sold its assets related to NFC and RFID reader business to STMicroelectronics for $79.3million. ST has acquired intellectual property, technologies, products and business highly complementary to its secure microcontroller solutions serving mobile devices, wearables, banking, identification, industrial, automotive and IoT markets. Approximately 50 technical experts from ams have been transferred to ST.

“Security and NFC connectivity are key prerequisites for the broad rollout of mobile and IoT devices anticipated in the coming years. This acquisition builds on our deep expertise in secure microcontrollers and gives ST all of the building blocks to create the next generation of highly-integrated secure NFC solutions for mobile and for a broad range of Internet of Things devices,” said Claude Dardanne, Executive Vice President and General Manager of STMicroelectronics’ Microcontroller and Digital ICs Group

ST acquired the ams assets in exchange for a cash payment of USD 77.8 million (funded with available cash), and deferred earn-out contingent on future results for which ST currently estimates will be about USD 13 million but which in any case will not exceed USD 37 million.