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Velodyne Lidar Acquires Ai Software Company Bluecity

Oct 04, 2022•about 3 years ago

Acquiring Company

Velodyne Lidar, Inc.

Acquired Company

Bluecity

San JoseSoftware

Description

Velodyne Lidar, Inc. (Nasdaq: VLDR, VLDRW) today announced the company has acquired Bluecity, a Montreal-based artificial intelligence (AI) software company whose next-generation, lidar-based solutions solve safety, traffic and infrastructure issues. The all-stock acquisition reinforces Velodyne’s commitment to enabling customer success by delivering industry-leading, AI-powered autonomous vision solutions. The addition of Bluecity is expected to be immaterial to operating expenses and cash usage. Bluecity’s executive, software development and sales teams will join Velodyne.

Company Information

Company

Velodyne Lidar, Inc.

Location

5521 HELLYER AVENUE

San Jose, California, United States

About

VLDR, VLDRW) ushered in a new era of autonomous technology with the invention of real-time surround view lidar sensors. Velodyne, the global leader in lidar, is known for its broad portfolio of breakthrough lidar technologies. Velodyne’s revolutionary sensor and software solutions provide flexibility, quality and performance to meet the needs of a wide range of industries, including robotics, industrial, intelligent infrastructure, autonomous vehicles and advanced driver assistance systems (ADAS). Through continuous innovation, Velodyne strives to transform lives and communities by advancing safer mobility for all.

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M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed