Certain assets of Fotonic are to be acquired by Autoliv Inc., the worldwide leader in automotive safety systems. The acquisition represents a transfer of certain intellectual property rights, development and prototyping assets and development resources and is expected to close before the end of 2017.
The acquired assets of Fotonic will become a part of the Autoliv Electronics segment.
”To add our competence to Autoliv and to contribute to safe lives within automotive safety is an exciting step for us at Fotonic,” says Rickard Åström, CEO of Fotonic.
All existing client relations for Fotonic will be handled according to contractual obligations. However, this acquisition means that Fotonic’s development team will transfer to Autoliv, implying that Fotonic will not further develop or launch any new products or accept new orders.
Johan Löfvenholm, President Autoliv Electronics commented the acquisition in a statement saying:
“LiDAR and Time of Flight cameras are important sensors to make autonomous driving a reality. We are very pleased that this strong and knowledgeable team is joining our company, thereby further improving Autoliv’s already strong competence and expertise in LiDAR and vision algorithms.”
Located in Stockholm and Skellefteå, Sweden, Fotonic i Norden AB is a LiDAR and Time of Flight camera specialist that designs, develops, and manufactures these products.