Princeton Optronics Inc.

About Princeton Optronics Inc.

Princeton Optronics, Inc. was a designer and manufacturer of high-efficiency, high-power Vertical Cavity Surface Emitting Lasers (VCSELs) and related optical subassemblies. Founded in 1993, and formerly known as Princeton Electronic Systems Inc., the company established itself as a developer of VCSEL technology for applications across mobile, consumer, automotive, and industrial sectors. Its products, including single-mode and multi-mode VCSELs, were utilized for illumination, sensing, 3D imaging, and solid-state laser pumping. Key applications included gesture recognition, Lidar for automotive systems, medical devices, and machine vision.

The company's technology was noted for enabling high-temperature operation and delivering high-power pulsed lasers and laser arrays. Before its acquisition, Princeton Optronics was a privately held, venture-funded company with investors including Intel Capital and NASA SBIR/STTR, having raised a total of $30 million. The company's former leadership included Chuni Ghosh as President and CEO, George Gasparian as VP of Sales & Marketing, and Dr. Y.S. Chang as Chief Technology Officer.

In March 2017, ams AG (now ams OSRAM) announced its acquisition of Princeton Optronics in an all-cash transaction, with the deal closing in July 2017. The acquisition involved an upfront payment of $53.3 million with a potential earn-out of up to $75 million. At the time of the acquisition, Princeton Optronics had 37 employees and an annual revenue run-rate of approximately $10 million. The acquisition was a strategic move for ams to expand its optical sensor solutions portfolio, particularly for mobile 3D sensing, imaging, and automotive applications like autonomous driving. Princeton Optronics is now fully integrated into ams OSRAM.