The former Austria Micro Systems, now AMS, is targetting revenues of €10 billion in 2026, according to Reuters. The target includes revenues gained through acquisitions.

Last year AMS had revenues of €1.9 billion and this year it has bought 69% of Osram which had 2019 revenues of €3.6 billion.

This year, the combined AMS-Osram revenues are expected to be €4.8 billion.

AMS is looking for the Osram business to be a route to diversify away from its reliance on Apple which currently provides about 40% of AMS’ revenues.

AMS supplies Apple with the 3D sensors which enable the facial recognition function on iPhones.

Osram expects a 19% drop in revenues for its fiscal year to the end of September.

AMS paid €2.7 billion for 69% of Osram – not counting the money it spent buying 20% of Osram’s shares in the stock market.

AMS took on €4 billion debt to make the Osram acquisition. Osram’s headcount is three times more than AMS’.