Ouster has bought the Congruent Ventures-backed lidar technology developer and will restructure the business as a wholly-owned subsidiary called Ouster Automotive.

Sense Photonics, a US-based developer of lidar technology that offers an ultra-wide field of view, has agreed to an acquisition by lidar system producer Ouster, offering an exit to University of California-aligned Congruent Ventures.

Ouster will pay 9.5 million shares, worth – on the morning of the announcement – nearly $71.3m.

Following the deal’s completion, expected in the fourth quarter of this year, Sense Photonics will be restructured into a wholly-owned subsidiary called Ouster Automotive. It will be led by…

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Thierry Heles

Thierry Heles is the editor of Global University Venturing, host of the Beyond the Breakthrough interview podcast and responsible for the monthly GUV Gazette (sign up here for free).