Ambarella, Inc. (NASDAQ: AMBA), an AI vision silicon company, has finalized its transaction to acquire Oculii Corp.
As previously announced, Ohio Merger Sub, Inc. merged with and into Oculli while all outstanding capital stock of Oculli was canceled and converted into the right to receive cash. As a result, Oculii has become a wholly owned subsidiary of Ambarella.
Oculli’s adaptive AI software algorithms are designed to enable radar perception using radar chips to achieve high resolution, longer range and greater accuracy. The combination of the two firms’ technologies will provide an all-weather, low-cost and scalable perception solution.
“We are excited to have closed this transaction quickly, and look forward to integrating our teams and technologies,” said Fermi Wang, president and CEO of Ambarella. “The two organizations have very similar cultures, and Ambarella is now one of the very few semiconductor companies to have advanced camera and radar technology development under one roof.”