Photonic component maker Teraxion bought by Indie Semiconductor
Indie Semiconductor, a provider of semiconductor solutions for lidar and advanced driver assistance systems (ADAS), is set to purchase Teraxion, a photonic component manufacture.
Based on indie’s closing stock price as of 30 August, Indie will pay approximately $159 million for TeraXion, comprised of $80 million in cash plus a fixed number of eight million indie Class A common shares. The transaction has been approved by the boards of directors of both indie and Teraxion and is expected to close in the fourth quarter of 2021.
Founded in 2000, TeraXion has more than 30 global patents for its low noise lasers, Bragg gratings and integrated photonic elements. More recently, Teraxion was an optical sensing reference design partner of Indie, supporting frequency modulated continuous wave (FMCW) systems for lidar.
'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.'
Ghislain Lafrance, Teraxion’s president and chief executive officer, added: '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.' Lafrance plans to join Indie’s senior management team and continue to lead Teraxion’s operations in Quebec.