LeddarTech Announces Strategic License Agreement With Solid State LiDAR Protection Inc.
LeddarTech Holdings Inc. (Nasdaq: LDTC) has announced a strategic license agreement with Solid State LiDAR Protection Inc. This agreement allows Solid State LiDAR Protection to produce and market LeddarTech's advanced LiDAR module and sensor products. These solid-state LiDARs have been successful across various applications, with over 65,000 units delivered since 2010.
Under the agreement, Solid State LiDAR Protection will rebrand and commercialize the products, while LeddarTech will receive royalty payments from sales. This marks the closure of LeddarTech's remaining LiDAR activities. The deal, along with two other strategic licenses established in 2023, highlights LeddarTech's focus on AI-driven automotive software solutions for ADAS and autonomous driving.
The agreement ensures that all aspects of the business, including technology, manufacturing, and commercialization, remain in Quebec, Canada, managed by Canadian companies.
LeddarTech Holdings Inc. (Nasdaq: LDTC) ha annunciato un accordo di licenza strategica con Solid State LiDAR Protection Inc. Questo accordo consente a Solid State LiDAR Protection di produrre e commercializzare i prodotti avanzati di modulo e sensore LiDAR di LeddarTech. Questi LiDAR a stato solido hanno avuto successo in diverse applicazioni, con oltre 65.000 unità consegnate dal 2010.
In base all'accordo, Solid State LiDAR Protection riporterà il marchio e commercializzerà i prodotti, mentre LeddarTech riceverà pagamenti di royalty dalle vendite. Questo segna la chiusura delle attività LiDAR rimanenti di LeddarTech. L'accordo, insieme ad altri due licenze strategiche stabilite nel 2023, evidenzia l'attenzione di LeddarTech sulle soluzioni software per automotive basate su AI per ADAS e guida autonoma.
L'accordo garantisce che tutti gli aspetti dell'attività, inclusi tecnologia, produzione e commercializzazione, rimangano in Quebec, Canada, gestiti da aziende canadesi.
LeddarTech Holdings Inc. (Nasdaq: LDTC) ha anunciado un acuerdo de licencia estratégica con Solid State LiDAR Protection Inc. Este acuerdo permite a Solid State LiDAR Protection producir y comercializar los productos avanzados de módulo y sensor LiDAR de LeddarTech. Estos LiDARs de estado sólido han tenido éxito en diversas aplicaciones, con más de 65,000 unidades entregadas desde 2010.
En virtud del acuerdo, Solid State LiDAR Protection rebrandingá y comercializará los productos, mientras que LeddarTech recibirá pagos de regalías por las ventas. Esto marca el cierre de las actividades LiDAR restantes de LeddarTech. El acuerdo, junto con otras dos licencias estratégicas establecidas en 2023, destaca el enfoque de LeddarTech en soluciones de software automotriz impulsadas por IA para ADAS y conducción autónoma.
El acuerdo asegura que todos los aspectos del negocio, incluida la tecnología, la fabricación y la comercialización, permanezcan en Quebec, Canadá, gestionados por empresas canadienses.
LeddarTech Holdings Inc. (Nasdaq: LDTC)는 Solid State LiDAR Protection Inc.와 전략적 라이센스 계약을 체결했다고 발표했습니다. 이 계약에 따라 Solid State LiDAR Protection은 LeddarTech의 첨단 LiDAR 모듈 및 센서 제품을 생산하고 판매할 수 있습니다. 이 솔리드 스테이트 LiDAR는 여러 응용 분야에서 성공을 거두었으며, 2010년 이후 65,000개 이상의 유닛이 배송되었습니다.
계약에 따라 Solid State LiDAR Protection은 제품의 브랜드를 변경하고 상용화하며, LeddarTech는 판매로부터 로열티 수익을 받게 됩니다. 이는 LeddarTech의 남은 LiDAR 활동의 종료를 의미합니다. 이 거래는 2023년에 체결된 두 개의 전략적 라이센스와 함께 LeddarTech가 ADAS 및 자율 주행을 위한 AI 기반 자동차 소프트웨어 솔루션에 집중하고 있음을 강조합니다.
계약은 기술, 제조 및 상용화를 포함한 비즈니스의 모든 측면이 캐나다 퀘벡에 남아 캐나다 기업에 의해 관리되도록 보장합니다.
LeddarTech Holdings Inc. (Nasdaq: LDTC) a annoncé un accord de licence stratégique avec Solid State LiDAR Protection Inc. Cet accord permet à Solid State LiDAR Protection de produire et de commercialiser les produits avancés de modules et de capteurs LiDAR de LeddarTech. Ces LiDAR à état solide ont connu du succès dans diverses applications, avec plus de 65 000 unités livrées depuis 2010.
En vertu de cet accord, Solid State LiDAR Protection va rebrander et commercialiser les produits, tandis que LeddarTech recevra des paiements de redevances sur les ventes. Cela marque la fermeture des activités LiDAR restantes de LeddarTech. L'accord, ainsi que deux autres licences stratégiques établies en 2023, souligne l'accent mis par LeddarTech sur des solutions logicielles automobiles basées sur l'IA pour les ADAS et la conduite autonome.
L'accord garantit que tous les aspects de l'entreprise, y compris la technologie, la fabrication et la commercialisation, demeurent au Québec, au Canada, gérés par des entreprises canadiennes.
LeddarTech Holdings Inc. (Nasdaq: LDTC) hat eine strategische Lizenzvereinbarung mit Solid State LiDAR Protection Inc. bekanntgegeben. Diese Vereinbarung erlaubt es Solid State LiDAR Protection, die fortschrittlichen LiDAR-Modul- und Sensorprodukte von LeddarTech zu produzieren und zu vermarkten. Diese Festkörper-LiDARs waren in verschiedenen Anwendungen erfolgreich, mit über 65.000 gelieferten Einheiten seit 2010.
Im Rahmen der Vereinbarung wird Solid State LiDAR Protection die Produkte umbenennen und vermarkten, während LeddarTech Lizenzgebühren aus dem Verkauf erhalten wird. Dies markiert den Abschluss der verbleibenden LiDAR-Aktivitäten von LeddarTech. Der Deal, zusammen mit zwei weiteren strategischen Lizenzen, die 2023 eingerichtet wurden, hebt den Fokus von LeddarTech auf KI-gesteuerte Softwarelösungen für das Automobil für ADAS und autonomes Fahren hervor.
Die Vereinbarung stellt sicher, dass alle Aspekte des Geschäfts, einschließlich Technologie, Produktion und Vermarktung, in Quebec, Kanada, von kanadischen Unternehmen verwaltet werden.
- Strategic license agreement allows for continued production and marketing of LeddarTech's LiDAR products
- LeddarTech to receive royalty payments from product sales
- Over 65,000 LiDAR units delivered since 2010, demonstrating product success
- Agreement aligns with LeddarTech's focus on AI-driven automotive software solutions
- Business operations to remain in Quebec, Canada, supporting local economy
- Closure of all remaining LiDAR activities at LeddarTech
- Potential loss of direct revenue from LiDAR product sales, replaced by royalty-based income
QUEBEC CITY, Canada, Oct. 04, 2024 (GLOBE NEWSWIRE) -- LeddarTech® Holdings Inc. (“LeddarTech”) (Nasdaq: LDTC), an automotive software company that provides patented disruptive AI-based low-level sensor fusion and perception software technology, LeddarVision™, for ADAS, AD and parking applications, is pleased to announce the conclusion of a strategic license agreement with Solid State LiDAR Protection Inc.
This partnership grants Solid State LiDAR Protection the rights to produce and market LeddarTech’s advanced LiDAR module and sensor products. These proven, true solid-state LiDARs are exceptionally robust and have been instrumental across a wide range of applications, with over 65,000 units delivered since 2010.
Under the terms of the agreement, Solid State LiDAR Protection will rebrand and commercialize the products, and LeddarTech will receive royalty payments from the sale of these products. This milestone coincides with the closure of all remaining LiDAR activities at LeddarTech.
The agreement, along with two other strategic licenses established in 2023 with key partners, underscores LeddarTech’s commitment to AI-driven automotive software solutions for advanced driver assistance systems (ADAS) and autonomous driving (AD). LeddarTech’s LiDAR technology assets have been pivotal in establishing a low-touch, high-margin, royalty-based licensing business model.
“We are thrilled to partner with Solid State LiDAR Protection to serve the LiDAR market with the technology and products developed at LeddarTech,” said Michael Poulin, Vice-President of Corporate Strategy and Development at LeddarTech. “We take pride in the continuity of a business that has evolved over nearly two decades, ensuring that all aspects—business, technology, manufacturing and commercialization—remain in Quebec, Canada, managed by Canadian companies with headquarters and a majority of employees based in Quebec.”
Allan Lee, President of Solid-State LiDAR Protection Inc., stated: “This licensing agreement with LeddarTech aligns perfectly with our vision to bring advanced, solid-state LiDAR solutions to the market. The robustness and proven performance of LeddarTech’s technology provide a significant competitive advantage that will enhance our product offerings and support the evolving needs of our customers worldwide.”
About Solid State LiDAR Protection Inc.
Solid State LiDAR Protection is a leading company dedicated to developing and commercializing advanced LiDAR technologies. With a strong commitment to innovation and excellence, the company aims to enhance the safety and efficiency of automated systems worldwide.
Sales contact: allan.lee@sslidar.com
About LeddarTech
A global software company founded in 2007 and headquartered in Quebec City with additional R&D centers in Montreal and Tel Aviv, Israel, LeddarTech develops and provides comprehensive AI-based low-level sensor fusion and perception software solutions that enable the deployment of ADAS, autonomous driving (AD) and parking applications. LeddarTech’s automotive-grade software applies advanced AI and computer vision algorithms to generate accurate 3D models of the environment to achieve better decision making and safer navigation. This high-performance, scalable, cost-effective technology is available to OEMs and Tier 1-2 suppliers to efficiently implement automotive and off-road vehicle ADAS solutions.
LeddarTech is responsible for several remote-sensing innovations, with over 160 patent applications (87 granted) that enhance ADAS, AD and parking capabilities. Better awareness around the vehicle is critical in making global mobility safer, more efficient, sustainable and affordable: this is what drives LeddarTech to seek to become the most widely adopted sensor fusion and perception software solution.
Additional information about LeddarTech is accessible at www.LeddarTech.com and on LinkedIn, Twitter (X), Facebook and YouTube.
Forward-Looking Statements
Certain statements contained in this Press Release may be considered forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (which forward-looking statements also include forward-looking statements and forward-looking information within the meaning of applicable Canadian securities laws), including, but not limited to, statements relating to LeddarTech’s anticipated strategy, future operations, prospects, objectives and financial projections and other financial metrics. Forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “may,” “will,” “should,” “would,” “expect,” “anticipate,” “plan,” “likely,” “believe,” “estimate,” “project,” “intend” and other similar expressions among others. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties and are not guarantees of future performance. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors, including, without limitation: (i) the possibility that anticipated benefits of LeddarTech’s recent business combination will not be realized; (ii) the risk that shareholder litigation in connection with the business combination or other settlements or investigations may result in significant costs of defense, indemnification and liability; (iii) changes in general economic and/or industry-specific conditions; (iv) possible disruptions from the business combination that could harm LeddarTech’s business; (v) the ability of LeddarTech to retain, attract and hire key personnel; (vi) potential adverse reactions or changes to relationships with customers, employees, suppliers or other parties; (vii) potential business uncertainty, including changes to existing business relationships following the business combination that could affect LeddarTech’s financial performance; (viii) legislative, regulatory and economic developments; (ix) unpredictability and severity of catastrophic events, including, but not limited to, acts of terrorism, outbreak or escalation of war or hostilities and any epidemic, pandemic or disease outbreak (including COVID-19), as well as management’s response to any of the aforementioned factors; (x) access to capital and financing and LeddarTech’s ability to maintain compliance with debt covenants; (xi) LeddarTech’s ability to execute its business model, achieve design wins and generate meaningful revenue; and (xii) other risk factors as detailed from time to time in LeddarTech’s reports filed with the U.S. Securities and Exchange Commission (the “SEC”), including the risk factors contained in LeddarTech’s Annual Report on Form 20-F for the fiscal year ended September 30, 2023. The foregoing list of important factors is not exhaustive. Except as required by applicable law, LeddarTech does not undertake any obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.
Contact:
Daniel Aitken, Vice-President, Global Marketing, Communications and Investor Relations, LeddarTech Holdings Inc. Tel.: + 1-418-653-9000 ext. 232 daniel.aitken@LeddarTech.com
- Investor relations website: investors.LeddarTech.com
- Investor relations contact: Kevin Hunt, ICR Inc. kevin.hunt@icrinc.com
- Financial media contact: Dan Brennan, ICR Inc. dan.brennan@icrinc.com
Leddar, LeddarTech, LeddarVision, LeddarSP, VAYADrive, VayaVision and related logos are trademarks or registered trademarks of LeddarTech Holdings Inc. and its subsidiaries. All other brands, product names and marks are or may be trademarks or registered trademarks used to identify products or services of their respective owners.
LeddarTech Holdings Inc. is a public company listed on the Nasdaq under the ticker symbol “LDTC.”
FAQ
What is the strategic license agreement between LeddarTech (LDTC) and Solid State LiDAR Protection Inc?
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Where will the LiDAR business operations continue under the new agreement with LeddarTech (LDTC)?
