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Technology Stocks : Driverless autos, trucks, taxis etc.

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From: Sam	11/13/2020 9:52:50 AM
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Lidar startup Aeva to go public via $2.1 billion SPAC merger Kirsten Korosec @kirstenkorosec / 12:07 PM EST•November 2, 2020 Aeva, a Mountain View, California-based lidar company started by two former Apple engineers and backed by Porsche SE, is merging with special purpose acquisition company InterPrivate Acquisition Corp., with a post-deal market valuation of $2.1 billion. The deal with InterPrivate, which is led by private equity investor Ahmed Fattouh, is expected to close by early 2021. Aeva is the latest company to eschew the traditional IPO path and go public via a SPAC merger. It’s also the third lidar company, following Velodyne and Luminar, to take this route to the public markets. Lidar, or light detection and ranging radar, measures distance. It’s considered by many in the emerging automated driving industry as a critical and necessary sensor. Velodyne long dominated the lidar industry and supplied most AV developers with its products. Dozens of startups have popped up in the past several years aiming to carve away market share from Velodyne, each one pitching its own variation on the technology and business approach. continues at techcrunch.com

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