Ouster and Velodyne to merge to speed up lidar adoption


Ouster, a number one supplier of high-resolution digital lidar, and Velodyne, a number one world participant in lidar sensors and options, have entered right into a definitive settlement to merge in an all-stock transaction.

Based on the businesses, the important thing strengths of the mixed firm will embrace:

  • Operational synergies throughout engineering, manufacturing, and basic administration assist an optimized cost-structure;

  • Sturdy product choices, together with verticalized software program, to serve a broad set of shoppers;

  • Complementary buyer base, companions, and distribution channels, coupled with lowered product prices and an revolutionary roadmap, to speed up lidar adoption throughout fast-growing finish markets;

  • Intensive mental property portfolio with 173 granted and 504 pending patents, backed by over 20 years of mixed expertise in lidar expertise innovation;

  • World-class management crew to be led by Dr. Ted Tewksbury as Govt Chairman of the Board and Angus Pacala as Chief Govt Officer;

  • Robust monetary place with mixed money steadiness[1] of roughly $355 million as of 30 September 2022; and

  • In comparison with stand-alone value constructions as of 30 September 2022, annualized operational expenditure synergies of a minimum of $75 million anticipated to be realized inside 9 months after transaction-close.


The mixed firm will supply a collection of merchandise to proceed to serve a various set of end-markets and prospects whereas executing on a product roadmap to fulfill the long run wants of the market.

Ouster and Velodyne had a mixed money steadiness of roughly $355 million as of 30 September 2022, and purpose to appreciate annualized value financial savings of a minimum of $75 million inside 9 months after closing the proposed merger. With an expanded world industrial footprint and distribution community, the mixed firm expects to ship elevated volumes, scale back product prices, and drive sustainable progress.

Below the phrases of the settlement, every Velodyne share can be exchanged for 0.8204 shares of Ouster at closing. The transaction will lead to present Velodyne and Ouster shareholders every proudly owning roughly 50% of the mixed firm, based mostly on present shares excellent.

The merger transactions are topic to customary closing situations together with shareholder approval by each corporations. Each corporations will proceed to function their companies independently till the shut of the merger transactions. The merger transactions are anticipated to be accomplished within the first half of 2023.


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