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Cepton Signs Definitive Agreement to be Acquired by Koito

Jul 29, 2024•almost 2 years ago

Contract Type

agreement

San JoseInformation Technology

Description

Cepton, Inc. has signed a definitive agreement providing for the acquisition by KOITO MANUFACTURING CO., LTD. of all of the outstanding capital stock not owned by Koito for $3.17 per share in an all-cash transaction. The acquisition will complement Koito’s existing sensor technology roadmap.

Company Information

Company

Cepton

Location

San Jose, California, United States

About

Cepton is a Silicon Valley innovator of lidar-based solutions for automotive (ADAS/AV), smart cities, smart spaces, and smart industrial applications. With its patented lidar technology, Cepton aims to take lidar mainstream and achieve a balanced approach to performance, cost and reliability, while enabling scalable and intelligent 3D perception solutions across industries. Cepton has been awarded a significant ADAS lidar series production award with Koito on the General Motors business. Cepton is also engaged with all Top 10 global OEMs. Founded in 2016 and led by industry veterans with decades of collective experience across a wide range of advanced lidar and imaging technologies, Cepton is focused on the mass market commercialization of high performance, high quality lidar solutions. Cepton is headquartered in San Jose, CA and has a center of excellence facility in Troy, MI to provide local support to automotive customers in the Metro Detroit area. Cepton also has a presence in Germany, Canada, Japan, India and China to serve a fast-growing global customer base. For more information, visit www.cepton.com and follow Cepton on Twitter and LinkedIn.

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