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Ouster to Establish Automotive Group with Planned Acquisition of Sense Photonics to Accelerate Automotive Growth and Bring Solid-State Digital Lidar to Market
Strategic acquisition expected to solidify Ouster as frontrunner in automotive with long-range solid-state digital lidar, a major global auto OEM deal, and
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[{"type":"text","content":"\nStrategic acquisition expected to solidify Ouster as frontrunner in automotive with long-range solid-state digital lidar, a major global auto OEM deal, and series production traction with global automakers\n\n SAN FRANCISCO--(BUSINESS WIRE)--\nOuster, Inc. (NYSE: OUST) (“Ouster” or the “Company”) announced today that it has signed a definitive agreement to acquire Sense Photonics (“Sense”), which has developed a digital solid-state lidar sensor for automotive series production. Upon closing the strategic all-stock acquisition Ouster plans to establish Ouster Automotive, a new functional division of the company focused on driving mass-market adoption of digital lidar in consumer and commercial vehicles, cementing Ouster’s position as a market leader across auto and non-auto industry verticals.\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211005005755/en/\nFollowing transaction close, Ouster will establish Ouster Automotive to be led by current Sense CEO Shauna McIntyre. Ouster Automotive plans to:\n\n\nAccelerate Ouster's solid-state roadmap by more than 12 months through Sense's approximately three years and $24 million investment in CMOS digital lidar;\n\n\nIntegrate Sense's breakthrough 200-meter range digital solid-state lidar into Ouster’s plan for the industry’s first multi-sensor lidar suite that meets the performance and price requirements for Level 2 and above autonomy;\n\n\nDeliver on the flagship strategic development agreement awarded by a major global automotive OEM to Sense earlier this year; and\n\n\nAdvance five series production programs collectively worth over $1 billion in potential revenue, currently under negotiation with automotive OEMs for start of production in 2025-2026.\n\n\nOuster also expects to strengthen its competitive position by retaining key Sense talent with deep engineering, semiconductor, and automotive expertise, and by acquiring from Sense over 100 pending patents and an exclusive license to over 250 patents.\n\n“Ouster and Sense are an ideal pairing. Combining Ouster’s digital expertise and maturity in product development and manufacturing with Sense’s advanced solid-state digital lidar silicon is expected to accelerate the delivery of our multi-sensor digital lidar suite for the consumer ADAS market,” said Ouster CEO Angus ...