Samsung Electronics is reportedly after Corephotonics, an Israeli startup specializing in smartphone camera technology, by offering around $150 million, according to sources on Sunday.

If the deal is realized, it would be the Korean tech giant’s first business acquisition this year and third since de facto boss Jay Y. Lee returned to Samsung’s leadership last February after serving one-year jail time on bribery charges linked to the ousted President Park Geun-hye.

Samsung wants to complete purchase of the startup owner’s shares this month, sources added.

Corephotonics was co-founded in 2012 by Prof. David Mendlovic, then a Tel Aviv University professor, and has received investments from venture capital funds and strategic investors including Samsung Venture Investment Co., the venture capital unit of Samsung Electronics.

Corephotonics is well known for its proprietary camera technology for smartphones such as optical zoom and optical image stabilization. Corephotonics sued Apple in 2017, alleging that Apple’s iPhone violated its four patents.

Samsung has been in cooperation with Corephotonics with Samsung’s venture capital arm injecting $15 million into the Israeli company in early 2017 along with Taiwan’s Foxconn and chipmaker MediaTek. Samsung applied Corephotonics’ key technology to its dual camera for the Galaxy Note 8 launched in Sept. 2017 and ensuing smart devices.

By Jeon Kyung-woon and Minu Kim

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