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The acquisition gives MicroVision the ability to combine its MAVIN lidar with Ibeo´s perception software features into the MicroVision application-specific integrated circuit (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.
"This is an exciting time as we welcome the Ibeo team to the MicroVision family. We believe this is the winning combination to accelerate our strategic plan at the exact right time. Our best-in-class hardware solution paired with existing perception features added to our ASIC, accelerated by the Ibeo software and automotive qualification experience, presents a significantly advanced solution for OEM," said Sumit Sharma, CEO of MicroVision.
“It’s a great match for both companies. The acquisition will enable MicroVision to provide a complete solution of a lidar and a perception software to the automotive market, which will benefit substantially from it. The insolvency situation of Ibeo made the M&A process particularly challenging, but with great effort from all parties involved, an outstanding result was achieved within a very short time frame”, acknowledged Alexander Stock, who is leading the M&A Advisory office for Rödl & Partner in Cologne.
“The M&A process was very intense, and we would like to thank Rödl & Partner for their great advice and management during the entire time”, added Sumit Sharma.
Headquartered in Redmond, USA, MicroVision is a pioneer in MEMS-based laser beam scanning technology that integrates MEMS, lasers, optics, hardware, algorithms and machine learning software into its proprietary technology to address existing and emerging markets. MicroVision's integrated approach uses its proprietary technology today to develop automotive lidar sensors and provide solutions for advanced driver-assistance systems (ADAS), leveraging its experience building augmented reality micro-display engines, interactive display modules, and consumer lidar modules.
Ibeo Automotive Systems GmbH, headquartered in Hamburg, Germany, is a well-established lidar hardware and software provider 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. Ibeo has also performed advanced development in software required for autonomous driving (AD).
Alexander Stock, Associate Partner (M&A Advisory), Cologne – Project lead Welf Nieke, Senior Associate (M&A Advisory), CologneRainer Miller, Partner (M&A Advisory), Stuttgart – Caring Partner
Alexander Stock
Associate Partner
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Rainer Miller
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