- Luminar Technologies, Inc (NASDAQ:LAZR) acquired its exclusive InGaAs chip design partner and manufacturer, OptoGration Inc, bringing specialized core IP and securing supply chain as Luminar scales Iris into series production with its OEM customers.
- The financial terms of the transaction remain undisclosed.
- The acquisition secures a vital part of Luminar’s supply chain and enables deeper integration with its existing chip design subsidiary Black Forest Engineering (BFE), which Luminar acquired in 2017.
- Luminar combines the latest technology from OptoGration and BFE to power its new fifth-generation lidar chip in Iris as it prepares for the series production of its product and technology.
- The transaction is estimated to close in Q3.
- Luminar is an excellent fit for OptoGration because the companies share a vision for transforming automotive safety and autonomy with lidar, OptoGration President William Waters said.
- Luminar held $610.3 million in cash and equivalents as of Mar. 31.
- Price action: LAZR shares traded lower by 5.32% at $17.19 on the last check Monday.
Oppenheimer Maintains Outperform on Ulta Beauty, Raises Price Target to $485
Oppenheimer analyst Rupesh Parikh maintains Ulta Beauty (NASDAQ:ULTA) with a Outperform and raises the price target from $470 to $485.
