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indie Semi to acquire Symeo GmbH from Analog Devices
indie Semiconductor has executed a definitive agreement with Analog Devices, Inc. to purchase Symeo GmbH, ADI’s Munich-based radar division consisting of approximately 35 team members specialising in radar hardware and software development.
Symeo's RF and sensor technology enables real-time position detection and distance measurement for high precision radar solutions. “Bringing Analog Devices’ Symeo radar division under the indie umbrella significantly expands our sensor modality capabilities and affirms our commitment to the radar market,” says Donald McClymont, co-founder and CEO of indie Semiconductor in a press release. “indie is effectively augmenting our highly skilled vision processing, perception and LiDAR teams in a way designed to enable us to offer distinctive yet affordable solutions to help our customers achieve unprecedented levels of active sensing integration across nearly all classes of vehicles. With the addition of this world-class engineering organization, we are accelerating indie’s entry into the radar market and, as a result, we believe we are better positioned to capture billion-dollar strategic programs among global automotive customers.” Automotive radar systems support functions such as navigation, surveillance and traffic monitoring with solutions providing insights into a vehicle’s surroundings and identifying potential hazards for drivers. According to an October 2021 MarketWatch report, the global automotive radar market is expected to reach USD 7.6 billion by 2026, up from USD 3.5 billion in 2019. This transaction is pending and subject to satisfaction of customary closing conditions, including German regulatory approval.