Velodyne Lidar acquires AI software company Bluecity

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SAN JOSE, Calif.–(BUSINESS WIRE)–Velodyne Lidar, Inc. (Nasdaq: VLDR, VLDRW) today announced the acquisition of Bluecity, a Montreal-based artificial intelligence (AI) software company whose next-generation lidar-based solutions solve security, traffic and infrastructure issues . The acquisition of all inventory reinforces Velodyne’s commitment to driving customer success by providing industry-leading, AI-powered, autonomous vision solutions. The addition of Bluecity should not be significant for operating expenses and the use of cash. Bluecity’s management, software development and sales teams will join Velodyne.

Velodyne and Bluecity have partnered for many years to provide lidar-based solutions for smart city applications. Velodyne’s Intelligent Infrastructure Solution (IIS) combines the company’s award-winning lidar sensors and Bluecity’s AI software. IIS provides traffic monitoring and analysis to improve road safety and efficiency, and helps cities plan smarter, greener transportation systems. The solution is deployed on four continents with 74 installations, including systems deployed nationally in California, Colorado, Florida, New Jersey, Maryland, Texas, Nevada and Michigan and internationally in Canada , China, United Arab Emirates, India, Finland, Germany and Australia.

“We are thrilled to welcome Bluecity as full members of the Velodyne team. They are an exceptionally talented group of innovators with groundbreaking AI and analytics software that perfectly complements our sensors. lidar and Vella software,” said Dr. Ted Tewksbury, CEO of Velodyne Lidar. “Customer response to Velodyne’s lidar-based system solutions has been overwhelmingly positive. AI to gain business insights and improve transportation safety, sustainability, efficiency and fairness in ways that would never have been possible with traditional cameras or radars alone.Our acquisition of Bluecity further confirms that A system solutions approach that integrates software and hardware is a major competitive advantage for Velodyne in all of our end markets.

“Bluecity strongly believes in Velodyne’s vision to be the leading provider of AI-powered autonomous vision systems,” said Dr. Asad Lesani, co-founder and CEO of Bluecity. “Our experience working with Velodyne’s world-class lidar sensors has shown the power their solutions can bring to making communities safer and more efficient. Our team is thrilled to be part of Velodyne now.

Velodyne expands its comprehensive solutions portfolio

Velodyne will continue to expand the capabilities of its intelligent infrastructure solution, including people and vehicle flow monitoring to create a range of new comprehensive infrastructure solutions for applications such as parking, retail, casinos and stadiums. According to Yole Intelligence, part of the Yole Group, the smart infrastructure market for lidar will grow from $108 million in 2021 to $1.1 billion in 20271. To serve these growing markets, Velodyne will integrate Bluecity’s robust AI and analytics software, delivered in a software as a service (SaaS) model, with Velodyne’s Vella lidar perception software. This integration will facilitate the creation of new Velodyne lidar-based software solutions for industrial, robotic and smart infrastructure, helping to accelerate customers’ time to market with autonomous vision systems for these markets.

Vella software translates lidar data into actionable information so that autonomous systems can observe and understand the environments in which they operate. Real-time data from Vella enables autonomous systems to make decisions and take action, like a robot or a vehicle moving safely, and to provide analytics, for example a traffic solution that helps communities understand the root causes of near misses, running red lights and other road user behaviors.

1Source: LiDAR 2022 – Focus on Automotive and Industrial Report, Yole Intelligence, 2022

About Velodyne Lidar

Velodyne Lidar (Nasdaq: VLDR, VLDRW) ushered in a new era of autonomous technology with the invention of real-time panoramic view lidar sensors. Velodyne, the world leader in lidar, is known for its broad portfolio of breakthrough lidar technologies. Velodyne’s breakthrough sensor and software solutions deliver flexibility, quality and performance to meet the needs of a wide range of industries, including robotics, industrial, intelligent infrastructure, autonomous vehicles and advanced assistance systems driving (ADAS). Through continuous innovation, Velodyne strives to transform lives and communities by advancing safer mobility for all.

Forward-looking statements

This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995, including, without limitation, all statements other than historical fact. and includes, but is not limited to, statements regarding Velodyne target markets, new products, development efforts and competition. When used in this press release, the words “estimates”, “plans”, “expects”, “anticipates”, “expects”, “plans”, “intends”, “believes “, “seeks”, “may”, ” “, “may”, “should”, “future”, “propose” and variations of these similar words or expressions (or negative versions of these words or expressions) are intended identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond Velodyne’s control. which could cause actual results or results to differ. substantially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or results include uncertainties regarding government regulation and adoption of lidar; the uncertain impact of the COVID-19 pandemic on the businesses of Velodyne and its customers; Velodyne’s ability to manage growth; Velodyne’s ability to execute its business plan; uncertainties relating to the ability of Velodyne’s customers to commercialize their products and the eventual market acceptance of such products; the rate and degree of market acceptance of Velodyne’s products; the success of other lidar and sensor related products and services that exist or may become available; uncertainties relating to Velodyne’s current and potential litigation involving Velodyne or the validity or applicability of Velodyne’s intellectual property; and general economic and market conditions affecting demand for Velodyne’s products and services. For further information on the risks and uncertainties associated with Velodyne’s business, please see the “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Risk Factors” sections of the filings by Velodyne with the SEC, including, but not limited to, its annual report. on Form 10-K and quarterly reports on Form 10-Q. All forward-looking statements contained in this press release are based on information available to Velodyne as of the date hereof. Velodyne undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

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