Canon SX120 IS has a 10.0MP 1/2.5-inch (5.744 x 4.308 mm ) sized CCD sensor and features Digic 4 processor. On the other hand, Olympus TG-630 iHS has a 12.0MP 1/2.3-inch (6.17 x 4.55 mm ) sized CMOS sensor .
Below you can see the SX120 IS and TG-630 iHS sensor size comparison.
As seen above, Olympus TG-630 iHS has a 1.1x Larger sensor area than Canon SX120 IS. Larger sensors give photographer more control on the depth of field and blurry background compared to smaller sensor when shot in same focal length and aperture.