Luminar Acquiring Freedom Photonics, Leader in High-Performance Laser Chips
21 Março 2022 - 05:00PM
Business Wire
Luminar Now Vertically Integrated Across Core
Lidar Components
Luminar (Nasdaq: LAZR), a leading global automotive technology
company, today announced it is acquiring high-performance laser
manufacturer Freedom Photonics. This transaction follows a
multi-year collaboration and brings fundamental next-generation
chip-scale laser technology, IP, and production expertise in-house
for Luminar lidar systems.
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the full release here:
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Luminar is acquiring Freedom Photonics, a
leader in developing laser chips that can deliver breakthrough
power, beam quality and economies of scale. (Photo: Business
Wire)
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.
“Component-level innovation and integration is critical to our
performance, cost and continued automotive technology leadership.
Bringing Freedom Photonics into Luminar enables a new level of
economies of scale, deepens our competitive moat and strengthens
our future technology roadmap,” said Jason Eichenholz, Co-Founder
and Chief Technology Officer at Luminar. “We’ve worked closely with
the Freedom team for the past several years. They have proven to be
the best in the world for breakthrough semiconductor laser chip
technology, where both power and beam quality are needed
simultaneously for true high resolution at long range.”
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.”
This all-stock transaction will not have a material impact on
Luminar’s cash position or share count. Today the company filed a
registration statement publicly registering the shares that may be
issued in connection with this transaction.
About Luminar Technologies
Luminar is a global automotive technology company ushering in a
new era of vehicle safety and autonomy. For the past decade,
Luminar has built an advanced hardware and software platform to
enable its more than 50 industry partners, including the majority
of global automotive OEMs. From Volvo Cars and Mercedes-Benz for
consumer vehicles and Daimler Trucks for commercial trucks, to tech
partners NVIDIA and Intel’s Mobileye, Luminar is poised to be the
first automotive technology company to enable next-generation
safety and autonomous capabilities for production vehicles. For
more information please visit www.luminartech.com.
About Freedom Photonics:
Founded in 2005 and based in California, Freedom Photonics is a
leader in unique and innovative photonic components, modules and
subsystems. Freedom Photonics’ products are enabling revolutionary
performance in a range of markets including automotive lidar,
optical sensing, aerospace, industrial processing and data
communications.
Forward-Looking Statements
Certain statements included in this press release that are not
historical facts are forward-looking statements for purposes of the
safe harbor provisions under the Private Securities Litigation
Reform Act of 1995. Forward-looking statements generally are
accompanied by words such as “aims,” “believe,” “may,” “will,”
“estimate,” “set,” “continue,” “towards,” “anticipate,” “intend,”
“expect,” “should,” “would,” “forward,” and similar expressions
that predict or indicate future events or trends or that are not
statements of historical matters. These forward-looking statements
include, but are not limited to, statements regarding the closing
of Luminar’s acquisition of Freedom Photonics, LLC, Luminar’s
preparation for series production and scale, Luminar’s expectation
that it will be successfully able to integrate and scale Freedom
Photonics’ technology to achieve performance gains and cost
reductions, and Freedom Photonics’ ability to extend relationships
with its existing customer base. These statements are based on
various assumptions, whether or not identified in this press
release, and on the current expectations of Luminar’s management
and are not predictions of actual performance. Forward-looking
statements are subject to a number of risks and uncertainties that
could cause actual results to differ materially from the
forward-looking statements including the risks discussed under the
heading “Risk Factors” in the Annual Report on Form 10-K filed by
Luminar on March 1, 2022, and other documents Luminar files with
the SEC in the future. You are cautioned not to place undue
reliance upon any forward-looking statements, which speak only as
of the date made and Luminar undertakes no obligation to update any
forward-looking statement to reflect events or circumstances after
the date of this press release.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220321005775/en/
Media Relations: Press@luminartech.com
Investor Relations: Trey Campbell Investors@luminartech.com
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