indie Semiconductor acquires EXALOS

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indie Semiconductor has announced it has acquired the privately held EXALOS, a Swiss photonics company, specialising in the design of high-performance optical semiconductors.

Founded in 2003 and based in Zürich, EXALOS has launched several highly innovative advanced products in particular, its field-proven SLEDs for fibre optic gyroscope and Semiconductor Optical Amplifiers (SOAs). Backed by 59 global patents, the company’s technology complements indie’s laser and Silicon Photonics products, creating a high-performance portfolio capable of targeting rapidly emerging Autotech applications.

"EXALOS’ differentiated solutions immediately expand indie’s ADAS and User Experience product and technology offering to our global tier one and automotive OEM customer base," said Donald McClymont, indie’s co-founder and CEO. "Specifically, indie can now leverage EXALOS’ core Super luminescent LED, and SOA technologies to enable Head Up Display (HUD), high brightness visible lighting and Inertial Measurement Unit (IMU)-based navigational applications and, importantly, to extend our FMCW LiDAR portfolio.

“We are gaining a well-established team of world class engineers, including the industry’s leading expertise in bright light sources based on a proprietary Gallium Nitride process. At a higher level, our acquisition of EXALOS represents another step in our quest to build a broadline Autotech powerhouse.”

Commenting Christian Velez, CEO and founder of EXALOS said, "Given indie’s global sales channels and demonstrated scalability, I am confident that together we can take our business to the next level, capitalising on clear product synergies between us and extending our customer reach while preserving the EXALOS innovation engine."

Subject to the terms and conditions of the definitive agreement, indie paid approximately $45 million to EXALOS equity holders The acquisition is expected to be financially neutral in 2023 and accretive to indie’s 2024 results.