indie Semiconductor Enters Definitive Agreement to Acquire Analog Devices’ Symeo Radar Division

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ALISO VIEJO, California – (BUSINESS WIRE) – indie Semiconductor, Inc. (Nasdaq: INDI), an innovator in autotech solutions, has reached a definitive agreement with Analog Devices, Inc. to purchase Symeo GmbH, ADI’s Munich-based radar division, consisting of approximately 35 team members who specialize in radar develop hardware and software for new security system applications. Symeo’s industry-leading RF and sensor technology enables real-time position detection and distance measurement for high-precision radar solutions.

“The merger of Analog Devices’ Symeo radar business under the indie umbrella significantly expands our sensor modality capabilities and validates our commitment to the radar market,” said Donald McClymont, co-founder and CEO of Indie Semiconductor. “Indie is effectively expanding our highly skilled vision, vision and LiDAR teams in a way that enables us to offer distinctive yet affordable solutions that help our customers achieve unprecedented levels of active sensor integration in almost all vehicle classes. With the addition of this world-class engineering company, we are accelerating indie’s entry into the radar market and therefore believe we are better positioned to deliver multi-billion dollar strategic programs to global automotive customers. ”

Automotive radar systems support functions such as navigation, surveillance and traffic monitoring with solutions that provide insights into the vehicle’s surroundings and identify potential dangers for the driver. According to an October 2021 MarketWatch report, the global automotive radar market is projected to reach $ 7.6 billion by 2026, up from $ 3.5 billion in 2019.

Since this carve-out acquisition supports Indie’s radar research and development staffing plan, the financial impact is expected to be neutral to previously forecast investment levels. This transaction is pending and subject to customary closing conditions including German regulatory approval.

Via analog devices

Analog Devices, Inc. (NASDAQ: ADI) operates at the heart of the modern digital economy and is transforming with its comprehensive suite of analog and mixed signal, power management, radio frequency (RF) and digital and sensor technologies. ADI serves 125,000 customers worldwide with more than 75,000 products in the industrial, communications, automotive and consumer sectors. ADI is headquartered in Wilmington, MA. Visit https://www.analog.com.

About indie

indie supports the autotech revolution with automotive semiconductors and software platforms of the next generation. We focus on edge sensors for advanced driver assistance systems, including LiDAR, connected car, user experience and electrification applications. These technologies are at the core of both electric and autonomous vehicles, while the advanced user interfaces transform the in-cab experience to mirror and seamlessly connect to the mobile platforms we rely on every day. We are an approved supplier to Tier 1 partners and our solutions can be found at well-known automotive OEMs around the world. Indie is headquartered in Aliso Viejo, CA, and has design centers and sales offices in Austin, TX; Boston, MA; Detroit, MI; Phoenix, AZ; San Francisco and San Jose, CA; Budapest, Hungary; Dresden, Germany; Edinburgh, Scotland; Haifa, Israel; Quebec City, Canada; Tokyo, Japan and multiple locations across China.

Visit us at www.indiesemi.com to find out more.

Safe Harbor Statement

This announcement contains “forward-looking statements” (including within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended). Such statements include, but are not limited to, statements about the potential of our new business unit, our future business and financial performance and prospects, and other statements that include words such as “will likely result”, “expect”, “expect,” estimate ” , “Believe”, “intend”, “plan”, “project”, “look out”, “should”, “could”, “can” or words with similar meanings, including statements about expanding our sensor’s modality capabilities and our acceleration in the Radar market that enables us to attract billions in strategic programs from Tier 1 customers. Such forward-looking statements are based on the current beliefs and expectations of our management and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are difficult to predict and generally beyond our control. Actual results and the timing of events could differ materially from the results contained in such forward-looking statements. In addition to the factors previously disclosed in our Registration Statement on Form S-1 (SEC File No. 333-257629) and in our other public filings with the SEC (including those listed under “Risk Factors” therein) , The following: Factors could cause actual results and the timing of events to differ materially from expected results or other expectations expressed in forward-looking statements: the effects of the COVID-19 pandemic; our confidence in contract manufacturing and the outsourced supply chain, as well as the availability of semiconductors and manufacturing capabilities; Competitive products and price pressures; our ability to win competitive bid selection processes and generate additional design wins; the impact of any acquisitions we may make and our ability to successfully integrate the teams we have acquired; our ability to develop, commercialize and gain acceptance of new and improved products and expand into new technologies and markets; Trade restrictions and trade tensions; and political and economic instability in our target markets. indie indicates that the above list of factors is not exclusive.

All information contained herein speaks only as of the date of this announcement, and we disclaim any intention or obligation to update any forward-looking statements in this announcement or in our other public filings, whether as a result of new information, future events or otherwise, except as required by law required.

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