SONA BLW PRECISION FORGINGS to acquire ~ 54% equity in NOVELIC D.O.O. BEOGRAD - ZVEZDARA which develops ADAS Sensors and software || DEAL FOR 40.5M EUROS (to be paid in 2 years / 3 tranches)
The deal value is ~1 year PAT at current rate NOVELIC’s capabilities will help Sona Comstar to grow in the area of autonomous and connected vehicle technologies by utilizing sensors and perception solutions, Brief Background about NOVELIC : NOVELIC is the world's leading self-sustaining provider of mmWave radar sensors, perception solutions, and full-stack embedded systems. During more than ten years of market presence NOVELIC has built an extensive portfolio of mmWave radar solutions and perception solutions that enable off-the-shelf and custom product focused on autonomous driving and automation. NOVELIC also does fullcycle development of electronics and software services based on its hardware-in-loop (HIL) systems, control systems, ECU hardware/software platform, annotation tools and other in-house platforms. The transaction scope also includes acquisition of Nirsen d.o.o. Beograd-Zvezdara (Nirsen), an entity owned by the founders of NOVELIC, engaged in chip designing business.