Business
Ouster Completes Acquisition of Sense Photonics and Establishes Ouster Automotive
Solidifies Ouster’s competitive position in automotive with long-range solid-state digital lidar, a major auto OEM development deal, and five series
About this update from Ouster, Inc.
[{"type":"text","content":"\nSolidifies Ouster’s competitive position in automotive with long-range solid-state digital lidar, a major auto OEM development deal, and five series production programs under negotiation\n\n SAN FRANCISCO--(BUSINESS WIRE)--\nOuster, Inc. (NYSE: OUST) (“Ouster” or the “Company”) announced today that it has completed the acquisition of Sense Photonics (“Sense”) 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 10 million shares of Ouster common stock, inclusive of 0.8 million shares underlying assumed options, after closing adjustments.\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211025005221/en/\nThrough the acquisition, Ouster expects to:\n\n\nAccelerate Ouster’s solid-state digital lidar product roadmap by more than 12 months;\n\n\nDeliver on a flagship development deal with a major global automotive OEM;\n\n\nAdvance negotiations with automotive OEMs for five series production programs, collectively worth over $1 billion in potential revenue; and\n\n\nExpand the breadth of its IP portfolio through the acquisition of Sense’s over 100 pending patent applications and exclusive license to over 250 patents.\n\n\nSense CEO Shauna McIntyre joins the Company as the President of Ouster Automotive, bringing 25 years of experience serving automotive OEMs to the team. She is accompanied by nearly all of Sense’s approximately 80 global employees who will continue to support the solid-state product roadmap and advance commercial negotiations with global automakers.\n\n“Ouster Automotive has the industry expertise, ability to execute, and resources to be a leading partner with automotive OEMs and Tier Ones alike,” said Ouster Automotive President Shauna McIntyre. “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.”\n\n“Solid-state digital lidar is the holy grail of automotive autonomy, and we believe Ouster is the only lidar company prepared to bring it to the mass market,” said Ouster CEO Angus Pacala. “We have both the talent and the te...