MicroVision to Acquire Ibeo Automotive Systems to Accelerate Solutions for Automotive OEM and Expand 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 $8 to $15 million in 2023[1] with expected future growth
• Synergistically address existing customer base that includes top-tier German and U.S. automotive OEMs, plus expand multi-market strategy focusing on industrial, smart infrastructure, robotics, and commercial vehicle segments with Ibeo's flash-based sensor
• Expands existing manufacturing partnership with ZF, and expectation to include manufacturing of MicroVision's MAVIN lidar product at the established production facility
• Strategic direction and oversight to remain with MicroVision management, under the continued leadership of CEO Sumit Sharma

REDMOND, WA / ACCESSWIRE / December 1, 2022 / MicroVision, Inc. (NASDAQ:MVIS), a leader in MEMS-based solid-state automotive lidar and advanced driver-assistance systems (ADAS) solutions announced today the signing of an agreement to acquire certain assets from Hamburg, Germany-based, Ibeo Automotive Systems GmbH, for up to 15 million euros. 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 combined company is expected to have revenue streams from existing and new product lines ranging from software, Ibeo's flash-based lidar and MicroVision's scanning lidar sensor, 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 today 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 also done advanced development in software required for autonomous driving (AD). Ibeo has a very impressive team, and the combined company has a common DNA in innovation and execution, with more than 700 patents globally.