Symeo in Munich has 35 employees and 120 granted and pending patents which it wants to help it enter the automotive radar business. This enables real-time position detection and distance measurement and the company also develops signal processing algorithms to provide improvements in angular accuracy and resolution.
Analog Devices acquired Symeo in March 2018, also for an undisclosed sum, saying the company would be useful for industrial, automotive and aerospace applications.
Symeo’s industrial high precision RADAR technology was originally developed within Siemens AG (XETRA: SIE) and subsequently spun-out as an independent entity in 2005 by the Siemens Technology Accelerator GmbH.
"Indie is effectively augmenting our highly skilled vision processing, perception and lidar teams in a way designed to enable us to offer distinctive yet affordable solutions to help our customers achieve unprecedented levels of active sensing integration across nearly all classes of vehicles," said Donald McClymont, co-founder and CEO of Indie, in a statement.
This transaction is subject to satisfaction of customary closing conditions, including German regulatory approval.
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