indie Semiconductor Acquires GEO Semiconductor

indie Semiconductor (Nasdaq: INDI) entered into a definitive agreement to acquire GEO Semiconductor, a private fabless supplier of camera video processors for automotive applications, for $180 million in aggregate consideration (approximately $90 million cash plus ~12 million INDI Class A shares) with the potential to earn up to an additional $90 million tied to performance. The deal adds GEO's camera-based image-processing technology and patents to indie's portfolio to enable full sensor fusion (Radar, LiDAR, Ultrasound and Computer Vision) for ADAS and next-generation automotive systems; closing was expected in Q1 2023 subject to customary conditions.