Sony set to buy out Toshiba’s image sensor business for $165M

by Gannon Burgett

posted Sunday, October 25, 2015 at 9:36 AM EDT

The largest image sensor manufacturer in the world is about to get even bigger.

According to a report from Rueters, Sony is said to be in the final steps of a $165 million deal with Toshiba to acquire its image sensor business, as part of Toshiba’s previously-announced plans to put its focus on its memory business.

This news is even more interesting considering Sony recently announced it’s spinning off its image sensor business into a new company called Sony Semiconductor Solutions, set to go into effect in April 2016.

Currently, Sony holds roughly 40% of the image sensor market. The reported acquisition would slightly increase that by a percentage point or two considering Toshiba’s global market share came in just shy of 2%.

Sony has declined to comment on the situation, according to Rueters, but the deal is said to be finalized in the coming days.