Completion of the Acquisition Accelerates Solutions for Automotive OEM and Expands Multi-Market Sales
- Acquisition brings together MicroVision’s best-in-class MAVIN™ hardware and Ibeo’s best-in-class perception software to be integrated into MicroVision’s perception ASIC, accelerating the path to a cost effective, true “one box solution” required by automotive OEMs for a roofline integrated product
- Accelerates combined company revenue streams from hardware and software products with forecast ranging between $10 to $15 million in 2023 with expected future growth
- Synergistically addresses existing customer base that includes top-tier German and U.S. automotive OEMs, plus expands multi-market strategy focusing on industrial, smart infrastructure, robotics, and commercial vehicle segments with Ibeo’s flash-based sensor
- Expecting to expand partnership with ZF Friedrichshafen on existing flash-based sensor and MAVIN manufacturing at the established production facility
- Strategic direction and oversight to remain with MicroVision management, under the continued leadership of CEO Sumit Sharma
MicroVision, a leader in MEMS-based solid-state automotive lidar and advanced driver-assistance systems (ADAS) solutions announced the successful completion of its previously announced acquisition of certain assets of Hamburg, Germany-based Ibeo Automotive Systems GmbH. The acquisition combines MAVIN lidar with Ibeo perception software features into the MicroVision ASIC for automotive OEMs. In addition, this acquisition expands MicroVision’s multi-market strategy focusing on industrial, smart infrastructure, robotics, and commercial vehicle segments with Ibeo’s flash-based sensor.
The company expects to have revenue streams from existing and new product lines ranging from software for reference and validation solutions, flash-based lidar for industrial applications, and MicroVision’s MAVIN scanning lidar sensor paired with perception software, as well as other combinations of hardware with perception software solutions.
Ibeo Automotive Systems Gmbh is a well-established lidar hardware and software provider with the team that developed and launched the SCALA sensor into serial production with a Tier 1 that is used by premium OEMs like Audi, Mercedes and Stellantis and software solutions used by BMW and VW, to name a few. The experienced Ibeo team has also innovated in OEM qualified software including auto-annotation, validation, and perception solutions. They have accomplished advanced development in software required for autonomous driving. Ibeo has a very impressive team, and the combined company has a common DNA in innovation and execution, with more than 700 patents globally.
“We are thrilled to bring this winning combination to life, accelerating our strategic plan by pairing our best-in-class hardware solution with road-ready perception software and automotive qualification experience,” said Sumit Sharma, CEO of MicroVision. “I’m also excited about the immediate expansion of our multi-market strategy with new sensors and software, broadening our total addressable market beyond automotive and diversifying our revenue profile.
Continued Sharma, “I’m delighted to see our highly talented and experienced engineering teams collaborate from Redmond to Nuremberg and now Hamburg, with all of us focused on making our roads safer.”
Source
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