OmniVision Technologies Inc., whose camera sensors have been used in Apple Inc.’s iPhone, said it agreed to be acquired for about $1.9 billion by a group of Chinese investors.

A consortium that includes Hua Capital Management Co., a Beijing-based private-equity firm, will pay $29.75 a share in cash, Santa Clara, California-based OmniVision said in a statement Thursday. Citic Capital Holdings Ltd. and GoldStone Investment Co. are also members of the consortium. Bloomberg reported Wednesday that OmniVision and Hua Capital were near a deal.

Subscribe Now

Complete access to real-time information and analysis of news and trends in the industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.