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Luminar Acquired Exclusive Lidar Chip Partner OptoGration For Undisclosed Sum

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  • Luminar Technologies, Inc (NASDAQ: LAZR) acquired its exclusive InGaAs chip design partner and manufacturer, OptoGration Inc, bringing specialized core IP and securing supply chain as Luminar scales Iris into series production with its OEM customers.

  • The financial terms of the transaction remain undisclosed.

  • The acquisition secures a vital part of Luminar's supply chain and enables deeper integration with its existing chip design subsidiary Black Forest Engineering (BFE), which Luminar acquired in 2017.

  • Luminar combines the latest technology from OptoGration and BFE to power its new fifth-generation lidar chip in Iris as it prepares for the series production of its product and technology.

  • The transaction is estimated to close in Q3.

  • Luminar is an excellent fit for OptoGration because the companies share a vision for transforming automotive safety and autonomy with lidar, OptoGration President William Waters said.

  • Luminar held $610.3 million in cash and equivalents as of Mar. 31.

  • Price action: LAZR shares traded lower by 5.32% at $17.19 on the last check Monday.

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