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MicroVision (MVIS) to Buy Certain Assets From Ibeo for 15M Euros
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MicroVision Inc (MVIS - Free Report) has announced an agreement to acquire selected assets, IP and the engineering team of Ibeo Automotive Systems GmbH for approximately €15 million. The acquisition of Ibeo's flash-based sensor will enable MicroVision to expand its multi-market strategy, which focuses on industrial, smart infrastructure, robotics and commercial vehicle segments.
Ibeo is a Germany-based hardware and software provider with more than 700 patents on autonomous driving (AD), validation, and perception solutions.
MicroVision’s MAVIN lidar and Ibeo perception software features will be transferred to MicroVision ASIC with compatibility demonstrations by the second quarter of 2023. This will likely establish MicroVision as a top OEM partner for hardware and perception software.
Ibeo's perception software has been approved by OEMs after successfully completing certification procedures, which enables MicroVision to quicken the product development process.
Ibeo’s SCALA sensor is being used by leading OEMs like Audi, Mercedes and Stellantis. MicroVision wants to leverage Ibeo's relationship with ZF Friedrichshafen AG to produce MAVIN lidar sensors for automotive OEMs and non-automotive customers
MicroVision anticipates revenues from a wide range of existing and new product lines. These include hardware sales from the MAVIN sensor, Ibeo’s LUX sensor and flash lidar, royalties from Ibeo's legacy SCALA sensor and Ibeo's auto-annotation, validation, perception and AD software, which are currently being used by OEMs and other partners.
The company expects the above-mentioned product line, along with German and U.S. OEMs and non-automotive multi-market customers, to expand its total addressable market and generate revenues of approximately $8 to $15 million in 2023.
MicroVision's position as a leading provider of lidar hardware and software solutions will be strengthened by acquiring Ibeo's engineering, sales and marketing capabilities in Germany and the United States.
The acquisition is expected to close during the first half of 2023, which is subject to regulatory clearance from the German Ministry of Economics and Climate Protection.
MicroVision currently carries a Zacks Rank #3 (Hold). Shares have lost 51.7% compared with the sub-industry’s decline of 41.6% in the past year.
The Zacks Consensus Estimate for Arista Networks 2022 earnings is pegged at $4.37 per share, up 8.2% in the past 60 days. The long-term earnings growth rate is anticipated to be 17.5%.
Arista Networks’ earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 12.7%. Shares of ANET have jumped 13.3% in the past year.
The Zacks Consensus Estimate for Plexus 2023 earnings is pegged at $5.98 per share, rising 8.9% in the past 60 days.
Plexus’ earnings beat the Zacks Consensus Estimate in three of the last four quarters, the average being 17.5%. Shares of PLXS have gained 23.3% in the past year.
The Zacks Consensus Estimate for Super Micro Computer’s fiscal 2023 earnings is pegged at $9.58 per share, rising 27.7% in the past 60 days.
Super Micro Computer’s earnings beat the Zacks Consensus Estimate in all of the last four quarters, the average being 9.4%. Shares of SMCI have soared 111.3% in the past year.
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MicroVision (MVIS) to Buy Certain Assets From Ibeo for 15M Euros
MicroVision Inc (MVIS - Free Report) has announced an agreement to acquire selected assets, IP and the engineering team of Ibeo Automotive Systems GmbH for approximately €15 million. The acquisition of Ibeo's flash-based sensor will enable MicroVision to expand its multi-market strategy, which focuses on industrial, smart infrastructure, robotics and commercial vehicle segments.
Ibeo is a Germany-based hardware and software provider with more than 700 patents on autonomous driving (AD), validation, and perception solutions.
MicroVision’s MAVIN lidar and Ibeo perception software features will be transferred to MicroVision ASIC with compatibility demonstrations by the second quarter of 2023. This will likely establish MicroVision as a top OEM partner for hardware and perception software.
Microvision, Inc. Price and Consensus
Microvision, Inc. price-consensus-chart | Microvision, Inc. Quote
Ibeo's perception software has been approved by OEMs after successfully completing certification procedures, which enables MicroVision to quicken the product development process.
Ibeo’s SCALA sensor is being used by leading OEMs like Audi, Mercedes and Stellantis. MicroVision wants to leverage Ibeo's relationship with ZF Friedrichshafen AG to produce MAVIN lidar sensors for automotive OEMs and non-automotive customers
MicroVision anticipates revenues from a wide range of existing and new product lines. These include hardware sales from the MAVIN sensor, Ibeo’s LUX sensor and flash lidar, royalties from Ibeo's legacy SCALA sensor and Ibeo's auto-annotation, validation, perception and AD software, which are currently being used by OEMs and other partners.
The company expects the above-mentioned product line, along with German and U.S. OEMs and non-automotive multi-market customers, to expand its total addressable market and generate revenues of approximately $8 to $15 million in 2023.
MicroVision's position as a leading provider of lidar hardware and software solutions will be strengthened by acquiring Ibeo's engineering, sales and marketing capabilities in Germany and the United States.
The acquisition is expected to close during the first half of 2023, which is subject to regulatory clearance from the German Ministry of Economics and Climate Protection.
MicroVision currently carries a Zacks Rank #3 (Hold). Shares have lost 51.7% compared with the sub-industry’s decline of 41.6% in the past year.
Image Source: Zacks Investment Research
Stocks to Consider
Some better-ranked stocks from the broader technology space are Arista Networks (ANET - Free Report) , Plexus (PLXS - Free Report) and Super Micro Computer (SMCI - Free Report) , each presently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Arista Networks 2022 earnings is pegged at $4.37 per share, up 8.2% in the past 60 days. The long-term earnings growth rate is anticipated to be 17.5%.
Arista Networks’ earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 12.7%. Shares of ANET have jumped 13.3% in the past year.
The Zacks Consensus Estimate for Plexus 2023 earnings is pegged at $5.98 per share, rising 8.9% in the past 60 days.
Plexus’ earnings beat the Zacks Consensus Estimate in three of the last four quarters, the average being 17.5%. Shares of PLXS have gained 23.3% in the past year.
The Zacks Consensus Estimate for Super Micro Computer’s fiscal 2023 earnings is pegged at $9.58 per share, rising 27.7% in the past 60 days.
Super Micro Computer’s earnings beat the Zacks Consensus Estimate in all of the last four quarters, the average being 9.4%. Shares of SMCI have soared 111.3% in the past year.