OSRAM Licht AG (XETRA: OSR; WKN: LED400) has acquired a strategic 25.1% stake in LeddarTech Inc. Financial terms were not disclosed.
[mepr-active rule=”374″ ifallowed=”hide”]★Subscriber ONLY content: read our research and get insight on this and other deals. We offer monthly/yearly recurring or one-time subscriptions. ★[/mepr-active][mepr-active rule=”374″] The financing closed on July 18 2017, with OSRAM becoming the largest shareholder, ahead of France’s i-SOURCE 3 and BDC Capital [/mepr-active]
LeddarTech has previously raised $9.5 million from BDC Venture Capital, GO Capital LP, iSource, Accès Capital, Desjardins-Innovatech s.e.c.
Founded in 2007, Québec City based LeddarTech develops a proprietary LiDAR technology integrated into semiconductors and sensor modules for self-driving cars and driver-assistance systems.
LeddarTech specializes in solid-state LiDAR (Light Detection And Ranging) systems that use infrared light to monitor the area around them, and its advanced optical sensing technology is highly complementary with Osram’s semiconductor products. The two companies already work together and Osram has now made an investment in LeddarTech in the mid double-digit million euros.
“Osram is already the world’s leading provider of sensor lights for autonomous vehicles and is experiencing steadily rising demand in this field. We see the investment in LeddarTech as a logical step on the way to becoming the leading provider of solutions in this area,” said Stefan Kampmann, Chief Technology Officer at OSRAM Licht AG.
“We see a great natural fit between our two companies and are pleased to welcome Osram as a strategic investor,” said Charles Boulanger, LeddarTech’s CEO. “LeddarTech is on its way to becoming the reference in solid-state LiDARs for the automotive industry, and we believe our association with the market leader in automotive lighting represents an important milestone in that direction. This investment from Osram is part of a larger financing round currently under way by LeddarTech and expected to be finalized shortly. Further details will be provided after the closing of the round.”
Munich, Germany based OSRAM is a globally leading lighting manufacturer with a history dating back about 100 years. OSRAM had around 24,600 employees worldwide at the end of fiscal 2016 (9/30/16) and generated revenue of almost €3.8 billion in that fiscal year.