MicroVision, Inc. (NASDAQ:MVIS), a Redmond, WA-based leader in MEMS-based solid-state automotive lidar and advanced driver-assistance systems (ADAS) solutions is to acquire certain assets from Hamburg, Germany-based Ibeo Automotive Systems GmbH, for up to €15m.
Under the terms of the asset purchase agreement, MicroVision will acquire certain Ibeo assets, IP, and teams to operate within the MicroVision organization as of the closing date. The acquisition includes engineering teams, revenue-producing hardware and software businesses, and automotive-focused and multi-market business development and sales professionals.
The acquisition combines MAVIN lidar with Ibeo perception software features into the MicroVision ASIC for automotive OEMs. In addition, this acquisition expands MicroVision’s multi-market strategy focusing on industrial, smart infrastructure, robotics, and commercial vehicle segments with Ibeo’s flash-based sensor. The combined company is expected to have revenue streams from existing and new product lines ranging from software, Ibeo’s flash-based lidar and MicroVision’s scanning lidar sensor, as well as other combinations of hardware with perception software solutions.
The closing of the acquisition, expected to occur during the first half of 2023, is subject to regulatory clearance from the German Ministry of Economics and Climate Protection.
Ibeo Automotive Systems Gmbh is a lidar hardware and software provider with the team that developed and launched the SCALA sensor into serial production with a Tier 1 that is today used by premium OEMs like Audi, Mercedes and Stellantis and software solutions used by BMW and VW, to name a few. The experienced Ibeo team has also innovated in OEM qualified software including auto-annotation, validation, and perception solutions. They have also done advanced development in software required for autonomous driving (AD).
Led by Sumit Sharma, CEO, MicroVision develops MEMS-based laser beam scanning technology that integrates MEMS, lasers, optics, hardware, algorithms and machine learning software into its proprietary technology to address existing and emerging markets. The company’s integrated approach uses its proprietary technology today to develop automotive lidar sensors and provide solutions for advanced driver-assistance systems (ADAS), leveraging its experience building augmented reality micro-display engines, interactive display modules, and consumer lidar modules.
FinSMEs
01/12/2022