Investment strengthens Osrams position in the autonomous driving sector
WILMINGTON, Mass.--(BUSINESS WIRE)--Osram has acquired a strategic 25.1 percent share in LeddarTech Inc., a Canadian company that develops a proprietary LiDAR technology integrated into semiconductors and sensor modules for self-driving cars and driver-assistance systems. LeddarTech specializes in solid-state LiDAR (Light Detection And Ranging) systems that use infrared light to monitor the area around them, and its advanced optical sensing technology is highly complementary with Osrams semiconductor products. The two companies already work together and Osram has now made an investment in LeddarTech in the mid double-digit million euros.
"Osram is already the worlds leading provider of sensor lights for autonomous vehicles and is experiencing steadily rising demand in this field. We see the investment in LeddarTech as a logical step on the way to becoming the leading provider of solutions in this area," said Stefan Kampmann, Chief Technology Officer at OSRAM Licht AG.
"We see a great natural fit between our two companies and are pleased to welcome Osram as a strategic investor," said Charles Boulanger, LeddarTechs CEO. "LeddarTech is on its way to becoming the reference in solid-state LiDARs for the automotive industry, and we believe our association with the market leader in automotive lighting represents an important milestone in that direction," Boulanger said. "This investment from Osram is part of a larger financing round currently under way by LeddarTech and expected to be finalized shortly. Further details will be provided after the closing of the round."
Osrams investment in LeddarTech is a response to the growing demand for LiDAR technology - an essential component in self-driving vehicles and in many other mobility-related applications. LiDAR is similar to radar technology in that it detects objects and measures distances and speeds, but it is based on infrared light. LeddarTech was established in 2007 and is based in Québec, Canada.
OSRAM, based in Munich, is a globally leading lighting manufacturer with a history dating back about 100 years. The product portfolio includes high-tech applications based on semiconductor technology such as infrared or laser lighting. The products are used in highly diverse applications ranging from virtual reality, autonomous driving or mobile phones to smart and connected lighting solutions in buildings and cities. In automotive lighting, the company is the global market and technology leader. Based on continuing operations (excluding Ledvance), OSRAM had around 24,600 employees worldwide at the end of fiscal 2016 (September 30) and generated revenue of almost €3.8 billion in that fiscal year. The company is listed on the stock exchanges in Frankfurt and Munich (ISIN: DE000LED4000; WKN: LED 400; trading symbol: OSR). Additional information can be found at www.osram.com.
LeddarTech is the developer and owner of Leddar, a patented solid-state LiDAR sensing technology that constitutes a novel approach in light detection and ranging. Developed over 10+ years of R&D, Leddar is a unique combination of advanced light wave digital signal processing and software algorithms that enable the production of solid-state LiDARs delivering superior performance and reliability at the highly competitive price. LeddarTechs sensors are used in multiple mobility-related markets including automotive, intelligent transport systems, drones, and industrial vehicles. LeddarTech technology contributes to improving our safety and our quality of life through applications minimizing the risks of accidents, reducing traffic congestion, and improving transport efficiency. Additional information can be found at www.leddartech.com.