MicroVision and Ibeo Join Forces
Completion of the Acquisition Accelerates Solutions for Automotive OEM and Expands Multi-Market SalesAcquisition brings together MicroVision's best-in-class MAVIN™ hardware and Ibeo's best-in-class perception software to be integrated into …
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
REDMOND, WA / ACCESSWIRE / February 1, 2023 / MicroVision, Inc. (NASDAQ:MVIS), a leader in MEMS-based solid-state automotive lidar and advanced driver-assistance systems (ADAS) solutions announced today 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.
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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 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.