indie Semiconductor agreed to acquire TeraXion, a supplier of photonic components, including low noise lasers, Bragg gratings and integrated photonic elements to address high-performance applications, for approximately US$159 million, comprised of US$80 million in cash plus a fixed number of eight million indie Class A common shares, based on share prices on 30-Aug-2021.
TeraXion is an optical sensing reference design partner of indie, supporting next-generation Frequency Modulated Continuous Wave (FMCW) systems for automotive light detection and ranging (LiDAR).
indie said the acquisition will advance its vision of becoming a semiconductor and software level solutions provider for multiple sensor modalities spanning advanced driver-assistance systems (ADAS) and autonomous vehicles.
“Given the critical role LiDAR plays in achieving maximum levels of safety for assisted and self-driving cars, we are excited to welcome TeraXion’s world class design team and integrate their differentiated IP and product portfolio,” said Donald McClymont, indie’s co-founder and chief executive officer. “Specifically, TeraXion has developed leadership laser technologies that, when optimized together with our SoC solutions, enable order of magnitude improvements in both system performance and cost. Accordingly, this highly synergistic combination built on a shared vision and strong cultural fit, positions indie to accelerate mass market deployments of LiDAR platforms.”
“TeraXion is thrilled to be joining forces with indie to take our business to the next level,” said Ghislain Lafrance, TeraXion’s president and chief executive officer. “By combining indie’s mixed-signal, DSP, software and power management experience with our laser and sensing technologies, together we intend to enable truly unparalleled solutions for ADAS and autonomous driving as well as adjacent high reliability applications.” Mr. Lafrance plans to join indie’s senior management team and continue to lead TeraXion’s operations in Quebec.
