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Indie Semiconductor to Acquire TeraXion

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ALISO VIEJO, Calif., Sept. 1, 2021 — Indie Semiconductor, a developer of automotive semiconductors and software platforms focused on edge sensors for ADAS systems including lidar, connected car, user experience, and electrification applications, will purchase TeraXion, a designer and manufacturer of innovative photonic components. The acquisition serves to accelerate indie Semiconductor’s goal of becoming a semiconductor and software level solutions provider. TeraXion has been an optical sensing reference design partner of indie in the development of next-generation frequency-modulated continuous-wave (FMCW) lidar systems.

“Given the critical role lidar plays in achieving maximum levels of safety for assisted and self-driving cars, we are excited to welcome TeraXion’s world-class design team and integrate their differentiated IP and product portfolio,” Donald McClymont, indie’s co-founder and CEO, said. “Specifically, TeraXion has developed leadership laser technologies that, when optimized together with our SoC solutions, enable order-of-magnitude improvements in both system performance and cost. Accordingly, this highly synergistic combination built on a shared vision and strong cultural fit, positions indie to accelerate mass market deployments of lidar platforms.”

“By combining indie’s mixed-signal, DSP, software, and power management experience with our laser and sensing technologies, together we intend to enable truly unparalleled solutions for ADAS and autonomous driving as well as adjacent high-reliability applications,” Ghislain Lafrance, TeraXion’s president and CEO, said.

Lafrance plans to join indie’s senior management team and continue to lead TeraXion’s operations in Quebec.
 
Based on indie’s closing stock price as of Aug. 30, 2021, TeraXion will be purchased for approximately $159 million, composed of $80 million in cash plus a fixed number of 8 million indie Class A common shares. The transaction, approved by both companies’ boards of directors, is expected to close in the fourth quarter of 2021, subject to customary closing conditions.

Photonics.com
Sep 2021
GLOSSARY
lidar
An acronym of light detection and ranging, describing systems that use a light beam in place of conventional microwave beams for atmospheric monitoring, tracking and detection functions. Ladar, an acronym of laser detection and ranging, uses laser light for detection of speed, altitude, direction and range; it is often called laser radar.
BusinesslidarsemiconductorsmanufacturinglasersSensors & Detectorsacquisitionsmergers & acquisitionspurchaseacquireindie SemiconductorTeraXionSoftwareAutonomous drivingADASFMCWautonomous vehiclesAmericas

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