Ouster Signs Agreement to Acquire Sense Photonics
Oct 5, 2021 By MarketDepth
Ouster, Inc. (NYSE: OUST) has reported signature on a definitive agreement to acquire Sense Photonics with a planned all stock acquisition. Ouster plans to Accelerate Ouster’s solid-state roadmap by more than 12 months through Sense’s approximately three years and $24 million investment in CMOS digital lidar. This includes advancing five series production programs worth over USD 1 Billion collectively which is under negotiations with automotive OEMs for start of production in 2025-2026. “Sense’s solid-state technology, which is closely aligned with Ouster’s digital approach, has generated serious interest from global automotive OEMs, including a major strategic development agreement”, said Sense CEO Shauna McIntyre.
“Ouster and Sense are an ideal pairing. Combining Ouster’s digital expertise and maturity in product development and manufacturing with Sense’s advanced solid-state digital lidar silicon is expected to accelerate the delivery of our multi-sensor digital lidar suite for the consumer ADAS market. Ouster’s digital technology has enabled us to pull ahead in the industrial, robotics, and smart infrastructure markets, and emerge as a top player in automotive. Together with Sense, Ouster is on its way to becoming the clear leader in technology and performance, poised to continue to capture share in auto and non-auto verticals alike.”Ouster CEO Angus Pacala