• Email Us: [email protected]
  • Contact Us: +1 718 874 1545
  • Skip to main content
  • Skip to primary sidebar

Medical Market Report

  • Home
  • All Reports
  • About Us
  • Contact Us

Ouster will buy Sense Photonics, drive for more automotive deals

October 5, 2021 by David Barret Leave a Comment

October 5, 2021

By Joseph White

DETROIT (Reuters) – Lidar developer Ouster Inc said on Tuesday it has agreed to buy solid-state lidar startup Sense Photonics in an all-stock deal, and will set up a new automotive division to be run by Sense CEO Shauna McIntyre.

Ouster said it will buy privately held Sense for 9.5 million Ouster shares, which had a value of about $68 million as of Monday’s close.

The acquisition comes as investors have reined in their enthusiasm for lidar startups. Automakers and autonomous driving companies have delayed high-volume deployment of the sensors to the middle of this decade, and Tesla Inc Chief Executive Elon Musk has said Tesla can do without the technology.

Ouster’s share price is down 47% for the year to date. Rival Luminar Technologies has fallen by 57% since January, while Velodyne Lidar Inc has plunged 75% for the year.

Lidar sensors build a detailed picture of a vehicle’s surroundings using laser light. Tesla aside, most automakers and autonomous vehicle developers are using lidar as part of the sensor arrays in their automated driving systems.

Ouster CEO Angus Pacala told Reuters acquiring Sense Photonics will accelerate by a year Ouster’s effort to land high-volume contracts with auto manufacturers. Sense brings solid-state lidar technology, engineers and prospects for contracts to supply sensors to five automakers by 2025-26, Pacala said.

“We can provide a five-lidar system for $1,000 that goes around the vehicle, vs a single forward-looking lidar that may cost $1,000 to $2,000,” Pacala said.

Ouster will set up an automotive division, augmenting its efforts to land contracts to supply lidars for off-road vehicles and industrial equipment. About 80 Sense employees are expected to join Ouster, and certain Sense executives have agreed to five-year retention deals, Ouster said.

Current lidar sensors are too costly for all but the most expensive consumer vehicles. Ouster and rivals are racing to develop lower-cost digital and solid-state lidars, and are targeting models to be launched within about four years.

(Reporting By Joe White; Editing by Dan Grebler)

Source Link Ouster will buy Sense Photonics, drive for more automotive deals

David Barret
David Barret

Related posts:

  1. Mexican president’s legal counsel steps down, ally to step in
  2. The best PlayStation Classic prices and sales for September 2021
  3. Adobe jumps into e-commerce payments business in challenge to Shopify
  4. Investors with $4 trln assets aim to tackle Asian firms on climate change goals

Filed Under: News

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

  • Why Do Trains Not Have Seatbelts? It’s Probably Not What You Think
  • World’s Driest Hot Desert Just Burst Into A Rare And Fleeting Desert Bloom
  • Theoretical Dark Matter Infernos Could Melt The Earth’s Core, Turning It Liquid
  • North America’s Largest Mammal Once Numbered 60 Million – Then Humans Nearly Drove It To Extinction
  • North America’s Largest Ever Land Animal Was A 21-Meter-Long Titan
  • A Two-Headed Fossil, 50/50 Spider, And World-First Butt Drag
  • Interstellar Comet 3I/ATLAS Is Losing Buckets Of Water Every Second – And It’s Got Cyanide
  • “A Historic Shift”: Renewables Generated More Power Than Coal Globally For First Time
  • The World’s Oldest Known Snake In Captivity Became A Mom At 62 – No Dad Required
  • Biggest Ocean Current On Earth Is Set To Shift, Spelling Huge Changes For Ecosystems
  • Why Are The Continents All Bunched Up On One Side Of The Planet?
  • Why Can’t We Reach Absolute Zero?
  • “We Were Onto Something”: Highest Resolution Radio Arc Shows The Lowest Mass Dark Object Yet
  • How Headsets Made For Cyclists Are Giving Hearing And Hope To Kids With Glue Ear
  • It Was Thought Only One Mammal On Earth Had Iridescent Fur – Turns Out There’s More
  • Knitters, Artists, And Bakers Unite! Creative Hobbies Can Help Your Brain Stay Young
  • The Biggest Millisecond Pulsar Glitch Recorded Represents An Astronomical Mystery
  • There Are Five Different Types Of Bad Sleeper. Which One Are You?
  • In A World First, Autonomous Underwater Robot Sets Off On Mission To Circumnavigate The Globe
  • First-Ever Living Recipient Of A Pig-To-Human Liver Transplant Survived For 171 Days
  • Business
  • Health
  • News
  • Science
  • Technology
  • +1 718 874 1545
  • +91 78878 22626
  • [email protected]
Office Address
Prudour Pvt. Ltd. 420 Lexington Avenue Suite 300 New York City, NY 10170.

Powered by Prudour Network

Copyrights © 2025 · Medical Market Report. All Rights Reserved.

Go to mobile version