Luminar acquires manufacturer of in high-performance laser chips
Automotive technology company Luminar announces that it is acquiring high-performance laser manufacturer Freedom Photonics.
The transaction follows a multi-year collaboration between the companies and brings next-gen chip-scale laser technology, IP, and production expertise in-house for Luminar lidar systems.
“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,” says Jason Eichenholz, Co-Founder and Chief Technology Officer at Luminar in a press release.
Once the transaction is completed – which is expected in the second quarter – the Freedom Photonics executive team will continue to lead and expand the business. This all-stock transaction is not expected to have a material impact on Luminar’s cash position or share count.
“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,” says Milan Mashanovitch, Co-Founder and Chief Executive Officer at Freedom Photonics, in the press release. “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.”
The transaction follows the acquisition of subsidiaries Black Forest Engineering for custom signal processing chips in 2017 and Optogration Inc. in 2021 for receiver chips.
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