Sofinnova sells Sensitive Object for USD 62m

Sofinnova Partners and Motorola Ventures have sold their stake in Sensitive Object, a touch-screen technology company, to Tyco Electronics for USD 62m. Sofinnova Partners recently closed its sixth fund on EUR 260m. Sofinnova held a stake of around 70%, the sale generated a IRR of between 30-40%.

Tyco, already had a close relationship with Sensitive Object having, in 2007, signed a cross license agreement. Tyco is a Swiss designer, manufacturer of electronic components. Sofinnova provided an initial EUR 2m in a first round of financing in September 2004 and was joined in the final round in December 2009 by Motorola Ventures.

Sensitive Object was created in October 2003 as a spin-off from the French Public Center of Research (CNRS). The Boulogne-Billanourt-based company specialises in touch-sensitive technology based on acoustic waves processing.

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