Ouster has announced the completion of its acquisition of Sense Photonics and the establishment of Ouster Automotive. As a new functional division of Ouster, Ouster Automotive will focus on driving the mass-market adoption of digital LiDAR in consumer and commercial vehicles. Under the terms of the agreement, Ouster acquired 100% of Sense and its property for approximately 10 million shares of Ouster common stock, inclusive of 0.8 million shares underlying assumed options, after closing adjustments.
Through the acquisition, Ouster expects to accelerate its solid-state digital LiDAR product roadmap by more than 12 months and deliver on a flagship development deal with a major global automotive OEM. Likewise, it will advance negotiations with other OEMs for five series production programs and expand its IP portfolio through the acquisition of Sense’s pending patent applications and a license to over 250 patents from Sense.
Ouster has confirmed that Sense’s CEO Shauna McIntyre will joins it as the President of Ouster Automotive. She is accompanied by nearly all of Sense’s global employees who will continue to support the solid-state product roadmap and advance commercial negotiations with global automakers.