indie Semiconductor Acquires EXALOS AG
18 Setembro 2023 - 5:05PM
Business Wire
- Expands indie’s ADAS and User Experience Portfolio with
Breakthrough Near Infrared and Visible Superluminescent LED (SLED)
as well as Semiconductor Optical Amplifier (SOA) Products
- Accelerates Design-in Opportunities with Premier Tier One and
Automotive OEMs
- Expected to be Financially Neutral to 2H 2023 and Accretive in
2024
indie Semiconductor (Nasdaq: INDI), an Autotech solutions
innovator, today announced it has entered into a definitive
agreement and completed the acquisition of privately held EXALOS
AG, a Swiss photonics company, specializing in the design of
high-performance optical semiconductors.
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indie Semiconductor Acquires EXALOS AG
(Graphic: Business Wire)
Founded in 2003 and based in Zürich, EXALOS has developed and
launched several highly innovative advanced products for the
world’s most demanding application areas. In particular, EXALOS’
field-proven SLEDs for fiber optic gyroscope and Semiconductor
Optical Amplifiers (SOAs), backed by 59 global patents, complement
indie’s laser and Silicon Photonics products, creating the
industry’s highest-performance portfolio targeting rapidly emerging
Autotech applications.
"EXALOS’ differentiated solutions immediately expand indie’s
ADAS and User Experience product and technology offering to our
global tier one and automotive OEM customer base," said Donald
McClymont, indie’s co-founder and CEO. "Specifically, indie can now
leverage EXALOS’ core Super luminescent LED, and SOA technologies
to enable Head Up Display (HUD), high brightness visible lighting
and Inertial Measurement Unit (IMU)-based navigational applications
and, importantly, to extend our FMCW LiDAR portfolio. We are
gaining a well-established team of 17 world class engineers,
including the industry’s leading expertise in bright light sources
based on a proprietary Gallium Nitride process. At a higher level,
our acquisition of EXALOS represents another step in our quest to
build a broadline Autotech powerhouse.”
“We are excited to join forces with indie at this key juncture
of EXALOS’ evolution," said Christian Velez, CEO and founder of
EXALOS. "Given indie’s global sales channels and demonstrated
scalability, I am confident that together we can take our business
to the next level, capitalizing on clear product synergies between
us and extending our customer reach while preserving the EXALOS
innovation engine."
Subject to the terms and conditions of the definitive agreement,
indie paid approximately $45 million to EXALOS equity holders
comprised of 6.6 million indie Class A common shares. In addition,
if certain revenue-based performance targets are exceeded over a
24-month post-closing period, there is an opportunity for such
holders to earn up to $20 million more in cash or indie Class A
common shares, at indie’s election. The transaction has been
approved by the boards of directors of both indie and EXALOS. The
acquisition is expected to be financially neutral in 2023 and
accretive to indie’s 2024 results.
The securities to be issued in connection with the transaction
have not been registered under the Securities Act of 1933 and may
not be resold absent registration under or exemption from such Act.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any securities.
About indie
indie is empowering the Autotech revolution with next generation
automotive semiconductors and software platforms. We focus on
developing innovative, high-performance and energy-efficient
technology for ADAS, user experience and electrification
applications. Our mixed-signal SoCs enable edge sensors spanning
Radar, LiDAR, Ultrasound, and Computer Vision, while our embedded
system control, power management and interfacing solutions
transform the in-cabin experience and accelerate increasingly
automated and electrified vehicles. We are an approved vendor to
Tier 1 partners and our solutions can be found in marquee
automotive OEMs worldwide. Headquartered in Aliso Viejo, CA, indie
has design centers and regional support offices across the United
States, Canada, Argentina, Scotland, England, Germany, Hungary,
Morocco, Israel, Japan, South Korea and China.
Safe Harbor Statement
This communication contains “forward-looking statements”
(including within the meaning of Section 21E of the United States
Securities Exchange Act of 1934, as amended, and Section 27A of the
Securities Act of 1933, as amended). Such statements include, but
are not limited to, statements regarding our future business and
financial performance and prospects, including the financial impact
of this acquisition, and other statements identified by words such
as “will likely result,” “expect,” “anticipate,” “estimate,”
“believe,” “intend,” “plan,” “project,” “outlook,” “should,”
“could,” “may” or words of similar meaning. Such forward-looking
statements are based upon the current beliefs and expectations of
our management and are inherently subject to significant business,
economic and competitive uncertainties and contingencies, many of
which are difficult to predict and generally beyond our control.
Actual results and the timing of events may differ materially from
the results included in such forward-looking statements. In
addition to the factors previously disclosed in our Annual Report
on Form 10-K for the fiscal year ended December 31, 2022 filed with
the SEC on March 28, 2023 and in our other public reports filed
with the SEC (including those identified under “Risk Factors”
therein), the following factors, among others, could cause actual
results and the timing of events to differ materially from the
anticipated results or other expectations expressed in the
forward-looking statements: ; the impact of any acquisitions we may
make, including our ability to successfully integrate acquired
businesses and risks that the anticipated benefits of any
acquisitions may not be fully realized or take longer to realize
than expected; our reliance on contract manufacturing and
outsourced supply chain and the availability of semiconductors and
manufacturing capacity; competitive products and pricing pressures;
our ability to win competitive bid selection processes and achieve
additional design wins; our ability to develop, market and gain
acceptance for new and enhanced products and expand into new
technologies and markets; trade restrictions and trade tensions;
our ability to build, staff and integrate new design, testing,
sales and marketing facilities throughout the world; and political
and economic instability in our target markets. All forward-looking
statements in this press release are expressly qualified in their
entirety by the foregoing cautionary statements.
Investors are cautioned not to place undue reliance on the
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set forth herein speaks only as of the date hereof. We do not
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to update any forward-looking statements made in this announcement
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