byNordic signs non-binding LOI to merge with Sivers Photonics, targeting AI photonics

byNordic Acquisition Corp

LOI signed Aug 6, 2024 to acquire Sivers Photonics from Sivers Semiconductors AB (STO: SIVE).
Sivers Photonics designs semiconductor lasers for AI data centers; market TAM $5B, SAM up to $1B by 2027.
Post-closing, Sivers to hold majority ownership; headquarters planned in Silicon Valley, CA.
Transaction subject to due diligence, financing, regulatory approvals, and shareholder votes.
Ayar Labs milestone order in 2023; Sivers Photonics has 80 employees, 12 PhDs, and 3 issued patents.

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