Cepton Signs Definitive Agreement to be Acquired by Koito

Acquisition Announcement: Cepton, a leader in high-performance lidar solutions, has signed an agreement for Koito Manufacturing to acquire all outstanding shares of the company at $3.17 per share, enhancing both companies' capabilities in automotive sensing technology and accelerating commercialization efforts.

Future Prospects: Post-acquisition, Cepton will operate as a privately held subsidiary of Koito, allowing for increased financial stability and scalability, while aiming to drive innovation and expand market penetration in the automotive sector, particularly in autonomous driving technologies.