KOITO to acquire the remaining stake in Cepton.

KOITO, a manufacturer and distributor of automotive lighting equipment, aircraft parts, railroad car equipment, electronic equipment, and other related products, completed the acquisition of the remaining stake in Cepton, a Silicon Valley innovator of lidar-based solutions for automotive, smart cities, smart spaces, and smart industrial applications. Financial terms were not disclosed. "We are thrilled to join KOITO as one company, given the synergies between Cepton and KOITO demonstrated through our years of close collaboration. The automotive industry has been trialing lidar technology for nearly a decade, and our combination with Koito comes at a critical inflection point, where trials must transition into full-scale, long-term deployment. Joining forces with Koito enables us to maximize our strengths in delivering what's of utmost importance to our OEM customers: a true balance between performance, reliability, and cost," Dr. Jun Pei, Cepton CEO and Co-Founder.