Velodyne and Ouster have merged to create what could be described as a “lidar giant” at a time when interest in lidar – light detection and ranging – sensors are at an all-time high because of their applications in so many robotic and automated machines.
Ouster and Velodyne describe their successful deal as a “merger of equals”. The combined company will keep the name Ouster and continue to trade on New York Stock Exchange under the ticker “OUST”. The two companies have a combined market capitalization of more than $550 million.
The merger creates a lidar powerhouse with over 850 customers spanning the automotive, industrial, robotics, and smart infrastructure industries supported by a robust product portfolio of innovative hardware and software solutions in addition to top-tier engineering and commercial teams. [Read more…] about Merger of Velodyne and Ouster creates $550 million lidar giant