Luminar Acquiring Leader in High-Performance Laser Chips
Luminar, a company that builds vision-based lidar and machine perception technologies for autonomous vehicles, is acquiring high-performance laser manufacturer Freedom Photonics on Monday.
Luminar Acquiring Leader in High-Performance Laser Chips
The all-stock transaction involves Luminar selling 3 million shares of its common stock, or about $42.3 million at today's share price, per a regulatory filing.
The buy is Luminar's latest to vertically integrate core lidar components to bring more accurate, lower-cost products to market.[1]
Luminar is vertically integrating across core lidar components that will enable low costs, supply chain security and improved performance. This transaction follows the acquisition of subsidiaries Black Forest Engineering for custom signal processing chips in 2017 and Optogration Inc. in 2021 for receiver chips.
This integration extends Luminar’s industry leadership on its path towards democratizing safety and autonomy for the automotive industry.[2]
The Freedom Photonics executive team will continue to lead and expand the business upon close of the transaction, which is expected in the second quarter.
“Joining Luminar is the perfect opportunity for Freedom Photonics, providing us an accelerated path to at-scale commercialization of our world-class diode laser technologies,” said Milan Mashanovitch, Co-Founder and Chief Executive Officer at Freedom Photonics.
“In addition to helping extend Luminar’s automotive industry leadership, we will continue to serve and grow our broad customer base across other key markets.” [3]
References:
- https://au.lifestyle.yahoo.com/luminar-acquisition-brings-high-performance-200052733.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAAA0oW4NTsNp-SaDTIumFFm5UWAckYRG8OIe69IK0jR9XlbIMR477y6SpLPAMBXNGqaCHIuuWhnRq26hlo OBEIqD5T4OMOJ5ohjlUM8R7wQZce2tmzpJZLtLKfJxbuUue7goVK0oX3YWdj6jkrjXHU5aIFYNvs_bdxa5-pDVN-LMG
- https://www.businesswire.com/news/home/20220321005775/en/Luminar-Acquiring-Freedom-Photonics-Leader-in-High-Performance-Laser-Chips
- https://www.luminartech.com/freedom-photonics/
Cite this article:
Sri Vasagi K (2022), Luminar Acquiring Leader in High-Performance Laser Chips, Anatechmaz, pp. 130
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