Consortium buys US chip producer OmniVision

Purchase seen as part of larger shift in industry's supply chain, manufacturing

A Chinese consortium led by private equity firm Hua Capital Management has announced the acquisition of the United States-based smartphone and tablet chipmaker OmniVision Technologies Inc for $1.9 billion.

The Chinese investor group, which also includes investment management firm CITIC Capital Holdings Ltd and Hong Kong-based GoldStone Investment Co Ltd, will pay $29.75 per share for the company.