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.