Ambarella to Acquire Oculii for $307.5 Million
October 27, 2021
Ambarella has entered into a definitive agreement to acquire Ohio-based Oculii Corporation. Oculii’s adaptive AI software algorithms are designed to enable radar perception using current production radar chips to achieve higher (up to 100X) resolution, longer range, and greater accuracy.
Per the company, these improvements are designed to eliminate the need for specialized high-resolution radar chips, which have higher power consumption and cost than conventional radar solutions. Oculii’s software can be deployed on Ambarella’s existing CVflow SoCs, operating in conjunction with radar RF solutions to increase safety and reliability.
The acquisition expands Ambarella’s addressable market into radar perception and fusion with its existing edge AI CV perception SoCs for automotive and other IoT endpoint applications, including mobile robotics and security. The fusion of Ambarella’s camera technology and Oculii’s radar software stack provides an all-weather, low-cost, and scalable perception solution, enabling higher levels of autonomy for automotive Tier1s and OEMs globally.
According to the company, Oculii’s resolution and sensitivity can unlock the potential of everything from advanced driver-assistance systems (ADAS) and autonomous vehicles to robotics and security, by providing radar with a dynamic waveform that uses AI to learn from and adapt to the environment. The result is an extended operating range of up to 400 meters with a wide field of view.
Also, according to the company, Oculii is engaged with 10 of the top 15 tier 1s on software licensing, and has commercial development contracts with OEM and AV companies. Oculii is generating pre-production revenue, with production programs expected to commence in CY2023.
The boards of directors at both companies have approved the transaction, which is subject to customary closing conditions and expected to close during Ambarella’s Q4 FY2022 (ending January 31, 2022).