Cepton To Be Acquired By Koito For $3.17 Per Share In All-Cash Deal, Transitioning To A Privately Held Subsidiary

Author: Benzinga Newsdesk | July 29, 2024 03:36am

• After closing of the proposed transaction, Cepton will operate as a privately held indirect subsidiary of Koito in the U.S., with corporate headquarters in San Jose, CA.

• Cepton and Koito have partnered since 2017 to industrialize high-performance lidar solutions for mass-market automotive, smart infrastructure and industrial applications.

• The proposed transaction is poised to accelerate the commercialization of Cepton's lidar technology through increased financial stability and scalability.

• The integration of Cepton through the proposed transaction is expected to enhance Koito's capabilities in automotive sensing solutions with strengthened technology advancement, product offerings and market penetration into new verticals.

• The proposed transaction builds on the long-term synergy between Cepton's innovative spirit and Koito's engineering heritage, enabling sustainable focus on quality and resilience against industry challenges.

Posted In: CPTN