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Ouster (NYSE:OUST) has announced a merger with Velodyne Lidar (NASDAQ:VLDR) that is expected to be completed 2023-H1.
Under the terms of the agreement, Ouster has agreed to give Velodyne Lidar $355.00 million in stock in exchange for VLDR stock.
Ouster Inc is a manufacturer of high-resolution digital lidar sensors used throughout the industrial automation, smart infrastructure, robotics, and automotive industries..
Velodyne Lidar Inc provides smart, powerful lidar solutions. It is known for its broad portfolio of lidar technologies.
A merger happens when a company combines operations with another company. In practice, one company will buy the other company's stock in exchange for its own stock. In some cases, cash is used to pay for the company's stock but usually the companies agree to a stock-for-stock transaction.
Due to the exchange and acquisition of stock, a merger is similar to an acquisition. This is why the two terms are commonly grouped together as mergers and acquisitions (M&A). However, in a merger, the leadership & operations of both companies usually change dramatically, while during an acquisition this is less likely to happen.
Make sure to follow our mergers & acquisitions calendar to stay-up-to-date on the most recent M&A deals.
This article was generated by Benzinga's automated content engine and reviewed by an editor.
