Technology

Lidar startup to merge with Colonnade in $1.6 billion deal

23 December 2020

San Francisco-based lidar startup Ouster plans to merge with Colonnade Acquisition Corp., an acquisition specialist company, to advance the development and manufacturing of digital lidar sensors.

The deal, priced at about $1.6 billion, will see the merged company continue under the Ouster brand and seek to accelerate digital lidar adoption and rapid scale across key end markets.

Ouster’s lidar sensors provide 3D vision to robots, vehicles and fixed infrastructure assets allowing each application to understand and visualize the surrounding world. The core markets for its sensors include industrial automation, smart infrastructure, robotics and automotive use cases.

Under the deal, Ouster will retain its management team with Angus Pacala continuing to serve as CEO.

“Ouster is powering the vision for an autonomous future where lidar-powered solutions are ubiquitous and built into every part of the industrial economy,” Pacala said. “We have established a strong business with a disruptive digital lidar technology, a diversified customer base, and global manufacturing and supply chain capabilities that are scaling toward high volume production. We believe the combination with Colonnade will enable us to further accelerate the adoption of our proven technology across multiple end markets and realize a safer, smarter, more efficient future.”

To contact the author of this article, email engineering360editors@globalspec.com


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