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Automotive Lidar Firm Acquires Insolvent Competitor

Image of Automotive Lidar Vendor Acquires Assets
Automotive Lidar Vendor Acquires Assets

MicroVision, a developer of MEMS-based solid-state automotive LiDAR and advanced driver-assistance systems (ADAS) solutions, is acquiring certain assets from Hamburg, Germany-based Ibeo Automotive Systems GmbH for up to 15 million euros ($15.8M USD). The acquisition combines MAVIN LiDAR with Ibeo perception software features into the MicroVision ASIC for automotive OEMs.

From an article in The RobotReport.

Ibeo recently filed for insolvency because it could not secure further growth financing. MicroVision said the acquisition will expand its 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.

Ibeo Automotive Systems Gmbh 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. Under the terms of the agreement, MicroVision will acquire certain Ibeo assets, IP, and teams to operate within the MicroVision organization as of the closing date, which is expected to be in the first half of 2023.

“This is an exciting time as we welcome the Ibeo team to the MicroVision family. We believe this is the winning combination to accelerate our strategic plan at the exact right time. Our best-in-class hardware solution paired with existing perception features added to our ASIC, accelerated by the Ibeo software and automotive qualification experience, presents a significantly advanced solution for OEM,” said Sumit Sharma, CEO of MicroVision. “I’m also very excited about the immediate expansion of our multi-market strategy with Ibeo’s sensor and hardware.”

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