Announced
Completed
Financials
Tags
Single Bidder
Private
Friendly
lidar sensors
Acquisition
Auto Technology
United States
Majority
Domestic
Electronic Components and Equipment
Completed
Synopsis
Ouster completed the acquisition of Sense Photonics and formally establishes Ouster Automotive, a new functional division of the company focusing on driving mass-market adoption of digital lidar in consumer and commercial vehicles. Under the terms of the agreement, Ouster acquired 100% of Sense and all of its property for approximately 10m shares of Ouster common stock, inclusive of 0.8m shares underlying assumed options, after closing adjustments. Ouster expects to accelerate Ouster’s solid-state digital lidar product roadmap by more than 12 months and deliver on a flagship development deal with a major global automotive OEM through the acquisition. "Ouster Automotive has the industry expertise, ability to execute, and resources to be a leading partner with automotive OEMs and Tier Ones alike. With the combination of our two companies, we are well-equipped to deliver on our existing automotive wins and future high-volume series production programs," Shauna McIntyre, Ouster Automotive President.
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