A merger of equals completed by Ouster and Velodyne on February 10 will see the creation of a combined lidar business under the name Ouster. With more than 850 customers in the automotive, industrial, robotics and smart infrastructure industries, the company will be supported by a varied and robust product portfolio which includes both hardware and software solutions.
The combined company is expected to retain approximately 350 employees with its headquarters in San Francisco and key offices across the Americas, Europe and Asia-Pacific. Furthermore, the merger is expected to drive significant cost synergies and value creation for the combined company and its stakeholders.
Additional key strengths of the combined company include an expanded partner ecosystem and distribution channels to accelerate market penetration, and an innovative digital lidar roadmap and software strategy to drive product adoption and new high-margin revenue streams. Other strengths include an extensive intellectual property portfolio with 173 granted and 504 pending patents.
“We’re thrilled to have completed the merger with Velodyne so quickly, further boosting our financial position and our ability to accelerate lidar adoption,” said Angus Pacala, CEO of Ouster. “Together, we have an even stronger team backed by a healthy balance sheet, new channel partners and a wide selection of positive-margin products to serve a diverse set of customers and win more deals than ever before. We expect our innovative digital lidar roadmap, amplified by exciting new software solutions, to further expand our serviceable market and catalyze growth across the business.”
“The combined Ouster is stronger than ever, led by an esteemed executive leadership team and board with deep company, industry and financial expertise,” said Dr Ted Tewksbury, executive chair of Ouster’s board of directors. “Ouster is well positioned as a global leader in lidar backed by the talent, products and [a]technology roadmap to make performant and affordable lidar solutions pervasive, while accelerating time to profitability and enhancing value for stockholders.”
