Ambarella to acquire radar AI software firm Oculii for ~$307.5M cash

AMBARELLA INC

Aggregate cash consideration ~$307.5M, subject to customary adjustments; unvested Oculii options assumed by Ambarella.
Transaction approved by both boards; HSR waiting period expired; expected close in Q4 FY2022 (Jan 31, 2022).
Oculii's adaptive AI software increases radar resolution up to 100X using production radar chips.
Oculii engaged with 10 of top 15 tier 1s; production programs expected to commence in CY2023.
Ambarella plans conference call at 4:30 p.m. ET today to discuss the acquisition.

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