Ouster and Velodyne have announced that they’ve entered into an agreement to merge in an all-stock transaction. Velodyne, maker of one of the first inexpensive lidar sensors, has been leveraged for autonomous vehicle systems, robotics and more, with their “puck” sensors powering many of the integrated lidar systems available today. Ouster has focused on the automotive, industrial and smart infrastructure space, as well as robotics.
According to a press release, the companies are hoping to take advantage of the overlap in their potential customer base, partners and distribution, and find places to streamline manufacturing and support across their product portfolios.
The combined company will be led by current Ouster CEO Angus Pacala, who will serve as Chief Executive Officer, and Dr. Ted Tewksbury, who will serve as Executive Chairman of the Board.
“Ouster’s cutting-edge digital lidar technology, evidenced by strong unit economics and the performance gains of our new products, complemented by Velodyne’s decades of innovation, high-performance hardware and software solutions, and established global customer footprint, positions the combined company to accelerate the adoption of lidar technology across fast-growing markets with a diverse set of customer needs,” said Ouster CEO Angus Pacala.
“Together, we will aim to deliver the performance customers demand while achieving price points low enough to promote mass adoption.”
“Lidar is a valuable enabling technology for autonomy, with the ability to dramatically improve the efficiency, productivity, safety, and sustainability of a world in motion. We aim to create a vibrant and healthy lidar industry by offering both affordable, high-performance sensors to drive mass adoption across a wide variety of customer applications, and by creating scale to drive profitable and sustainable revenue growth,” said Velodyne CEO Dr. Ted Tewksbury.
“The combination of Ouster and Velodyne is expected to unlock enormous synergies, creating a company with the scale and resources to deliver stronger solutions for customers and society, while accelerating time to profitability and enhancing value for shareholders.”