02:15 PM EDT, 07/31/2024 (MT Newswires) -- Luminar Technologies ( LAZR ) has bought the optoelectronic components and laser modules business of Gooch & Housego, Reuters reported Wednesday, citing Chief Executive Austin Russell.

The move is aimed at expanding Luminar's ( LAZR ) semiconductor operation and its foray into aerospace and defense, Russell was quoted as saying.

The CEO did not disclose the size of the deal, which was reportedly agreed in March. Gooch & Housego reported in the same month that it sold its EM4 unit to an unnamed US company for up to $12 million, the report added.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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