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INDIE Semiconductors completes acquisition of Teraxon, a Canadian company
Date: 2021-09-03Read: 0
It is reported that Indie Semiconductor, an innovator in automotive technology solutions（Nasdaq: INDI）Announced on August 30, 2021 that the final agreement has been signed for the acquisitionIn terms of innovative photon component design and manufacturingTeraXion Company in the market. This acquisition accelerates Indie's vision of becoming a semiconductor and software level solutions provider, with Teraxion's product portfolio complementing INDIE's Light Detection and Ranging (LiDAR) solution, which offers multiple sensor modes covering Advanced Driver Assistance Systems (ADAS) andcarAutonomous driving.
Since its establishment in 2000, TeraXion has built a solid industry reputation based on innovative and highly reliable components, and has gained over 30 awardspatentThe company produces low-noise lasers, Bragg gratings, and integrated photonic components to meet high-performance applications. Recently, TeraXion has become INDIE's optical sensing design partner, supporting the next-generation frequency modulated continuous wave (FMCW) system for automotive light detection and ranging (LiDAR).
Indie is at the forefront of LiDAR semiconductor and software solutions, allowing its customers to create differentiated platforms that help release next-generation driving assistance systems and ultimately achieve true autonomous driving. Through its holistic system approach, Indie is meeting the market's demand for comprehensive and cost-effective architectures that enhance safety margins and help fulfill today's commitments to future vehicles. According to the MarketWatch report in March 2021, the automotive LiDAR segment is expected to grow at a compound annual growth rate of 28% from 2020, and the market size will reach $3.2 billion by 2027.
According to iIndie's closing price as of August 30, 2021, Indie will pay approximately $159 million to TeraXion, including $80 million in cash and a fixed number of 8 million independent Class A common shares. The transaction has been approved by the boards of directors of INDIE Semiconductor and TeraXion, and is expected to be completed in the fourth quarter of 2021, subject to customary closing conditions. Excluding any non recurring acquisition related expenses and amortization of intangible assets, Indie expects this acquisition to immediately increase in value and will provide more financial details during the next earnings conference call.
About INDIE Semiconductor
INDI was founded in 2007, focusing on EDGE sensors for Advanced Assisted Driving Systems (ADAS), including LiDAR, Internet vehicles and electrification applications.
AboutTeraXion
TeraXion was founded in 2000 and designs and produces high-power laser grating devices, ultrafast laser grating devices, high-speed fiber transmission network dispersion compensation optical devices, and low-noise narrow linewidth lasers based on advanced fiber Bragg grating (FBG) technology.
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