Indie Semiconductor acquires Silicon Radar GmbH for $9M cash and ~980k shares

indie Semiconductor, Inc.

Acquisition consideration: $9M cash + ~980k shares of Class A common stock; earn-out based on revenue/design-win milestones through Dec 2024.
Adds Silicon Radar's 120 GHz radar SoC technology, described as industry's first production-ready 120 GHz solution for in-cabin and exterior sensing.
Silicon Radar brings 14 expert mixed-signal designers and 10 radar-related patents; based in Frankfurt an der Oder, Germany.
Radar ECU market expected to grow from 138M units in 2023 to 293M by 2028, creating $6B semiconductor opportunity.
Financial impact expected to be neutral to previously forecasted R&D investment levels.

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