financetom
Business
financetom
/
Business
/
Luminar buys G&H's laser module unit to expand chip business- CEO
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Luminar buys G&H's laser module unit to expand chip business- CEO
Jul 31, 2024 10:28 AM

SINGAPORE, Aug 1 (Reuters) - Luminar Technologies ( LAZR )

, a maker of lidar sensors for self-driving cars, has

purchased the optoelectronic components and laser modules

business of Britain's Gooch & Housego ( GCHHF ) (G&H) to expand its

semiconductor operation, its CEO said.

The Nasdaq-listed firm launched its semiconductor arm

Luminar Semi last year based on the prior acquisition of three

companies: laser manufacturer Freedom Photonics, custom chip

design house Black Forest Engineering and photodetector firm

Optogration.

Luminar Semi is breaking even and will further expand into

aerospace and defence following the acquisition of the G&H unit,

EM4, Luminar ( LAZR ) chief executive Austin Russell told Reuters.

"We have now over 100 active customers and programs across

the board for Luminar Semiconductor," the 29-year founder said

in his first interview on Luminar's ( LAZR ) chip business.

"Companies are leveraging the same IP and technology that we

had first developed for our Lidar systems for the broader

sensing industry," he said.

Lidar, which stands for light detection and ranging, shoots

out light pulses that are reflected off objects, allowing

self-driving systems and driver-assistance software to gain a

three-dimensional map of the road. Many self-driving companies

and experts regard it as a crucial component, especially during

low-light situations.

Russell declined to comment on the size of the deal, which

was agreed in March, but G&H said that month that it had sold

EM4 to a U.S. tech company in a deal worth up to $12 million

without naming the buyer.

Clients for Luminar's ( LAZR ) chip business range from the U.S

Department of Defence and the National Aeronautics and Space

Administration (NASA) to technology companies, Russell said.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Southern Copper's Position Expected to Persist For Favorable Copper Market Conditions, UBS Says
Southern Copper's Position Expected to Persist For Favorable Copper Market Conditions, UBS Says
Jul 12, 2024
12:32 PM EDT, 07/12/2024 (MT Newswires) -- Southern Copper ( SCCO ) trades at a premium to the sector, which is expected to persist due to favorable medium-term copper market conditions, UBS said in a note emailed Friday. We believe [Southern Copper ( SCCO )] is well positioned as it has long-life low-cost copper assets, a strong balance sheet, a...
What's Going On With Roku Shares Today?
What's Going On With Roku Shares Today?
Jul 12, 2024
Roku, Inc. ( ROKU ) shares are trading higher on Friday. The company announced today that Louise Pentland will join the company as Senior Vice President and General Counsel, effective July 23. Pentland will report to Anthony Wood, Founder and CEO, and will succeed current SVP and General Counsel Stephen Kay, who is retiring in November. Pentland is transitioning to...
Market Chatter: Arbor Realty Trust Faces DOJ Probe Over Lending Practices, Loan Book
Market Chatter: Arbor Realty Trust Faces DOJ Probe Over Lending Practices, Loan Book
Jul 12, 2024
12:33 PM EDT, 07/12/2024 (MT Newswires) -- Arbor Realty Trust ( ABR ) faces a probe by the Federal Bureau of Investigation and federal prosecutors on lending practices and claims about the performance of its loan book, Bloomberg reported, citing people familiar with the matter. Viceroy Research and short sellers alleged Arbor's loans are distressed and the value of the...
--Judge Backs Previous Verdict Against Micron for Patent Infringement
--Judge Backs Previous Verdict Against Micron for Patent Infringement
Jul 12, 2024
12:34 PM EDT, 07/12/2024 (MT Newswires) -- Price: 132.62, Change: +2.39, Percent Change: +1.84 ...
Copyright 2023-2026 - www.financetom.com All Rights Reserved