Autoliv, Inc. (NYSE: ALV and SSE: ALIVsdb), the worldwide leader in automotive safety systems, has signed an agreement to acquire certain assets of a Swedish based LiDAR specialist company.
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. The acquisition represents a transfer of certain intellectual property rights, development and prototyping assets and development resources of Fotonic i Norden AB, including about 35 engineering experts in the field of LiDAR and Time of Flight cameras.
"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," says Johan Löfvenholm, President Autoliv Electronics.
The announcement complements the collaboration with Velodyne.The transaction is expected to close before year-end 2017, and is subject to customary closing conditions. The acquired assets and resources will become part of the Autoliv Electronics segment.