MicroVision to Acquire Ibeo Automotive Systems to Accelerate Solutions for Automotive OEM and Expand Multi-Market Sales

Dec 01, 2022

Acquisition brings together MicroVision's best-in-class MAVIN™ hardware and Ibeo's best-in-class perception software to be integrated into MicroVision's perception ASIC, accelerating the path to a cost effective, true "one box solution" required by automotive OEMs for a roofline integrated product
Accelerates combined company revenue streams from hardware and software products with forecast ranging between $8 to $15 million in 2023[1] with expected future growth
Synergistically address existing customer base that includes top-tier German and U.S. automotive OEMs, plus expand multi-market strategy focusing on industrial, smart infrastructure, robotics, and commercial vehicle segments with Ibeo's flash-based sensor
Expands existing manufacturing partnership with ZF, and expectation to include manufacturing of MicroVision's MAVIN lidar product at the established production facility
Strategic direction and oversight to remain with MicroVision management, under the continued leadership of CEO Sumit Sharma

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