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Palo Alto, Calif. (June 13, 2017) – Luminar Technologies, the global leader in automotive lidar technology powering the introduction of highway autonomy, today announced it has entered into a definitive agreement to merge with Gores Metropoulos, Inc., a special purpose acquisition company sponsored by an affiliate of The Gores Group, LLC, a global investment firm founded in 1987 by Alec Gores, and by an affiliate of Dean Metropoulos of Metropoulos & Co. Upon completion of the transaction, the combined company will retain the Luminar Technologies, Inc. name and will remain listed on the Nasdaq under the new ticker symbol LAZR.

* Increased financial resources and access to capital markets * Unlocked access to the hundreds of millions of dollars in additional investment funds which have not yet been invested in the consumer lidar space * Unlocked access to the 2.6 billion square feet of Gores Metropoulos real estate and 16,000+ associates, which includes leading automotive OEMs, technology companies and enterprises * Offered access to a wealth of complementary relationships, brand and media exposure including the Digital Content Factory, The Gores Group and Luminar founder Austin Russell * Negotiated a highly efficient exit in the event that Luminar may be acquired

Forward-looking statements included in this press release speak only as of the date of this press release. Except as required by law, neither Gores Metropoulos nor Luminar undertakes any obligation to update or revise its forward-looking statements to reflect events or circumstances after the date of this release. Additional risks and uncertainties are identified and discussed in the Gores Metropoulos reports filed with the SEC and available at the SECs website at

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DETROIT–(BUSINESS WIRE)–Luminar Technologies, Inc. (NASDAQ: LAZR), the global leader in automotive lidar technology, today announced its plan to merge with Gores Metropoulos, Inc. (Gores Metropoulos) (NYSE: GMHI, NAREIT: GMHI) and its largest stockholder, Dean Metropoulos and his affiliates, who have entered into an agreement to acquire all of the outstanding shares of Luminar, in exchange for a combination of cash and stock valued at $109 million. Under the terms of the merger agreement, Gores Metropoulos will purchase all of the outstanding shares of Luminar for a purchase price of $59 per share, or $109 million, subject to a working capital adjustment, and subject to Luminars and Gores Metropoulos qualified shareholders rights to nominate a majority of Luminars board of directors, which are expected to expire in May, 2021. Luminar will also enter into a long-term research and development agreement with Gores Metropoulos, with financial terms to be determined. The combined company, which will be named Luminar Gores Metropoulos, will retain the Luminar Technologies, Inc. name and will remain listed on Nasdaq under the new ticker symbol LAZR.

Stuttgart, Germany/ Palo Alto, CA, U.S. Today, Luminar Technologies, Inc., the global leader in automotive lidar hardware and software technology, and the worlds largest commercial vehicle manufacturer, Daimler Truck AG, announced a strategic partnership to enable highly automated trucking, starting on highways. Experts at Daimler Trucks, its U.S. subsidiary, Daimler Trucks North America (DTNA) and Torc Robotics, part of Daimler Trucks Autonomous Technology Group, with the experts at Luminar will work closely together in order to enhance lidar sensing, perception, and system-level performance for Daimler trucks moving at highway speeds. To strengthen the partnership, Daimler Trucks has acquired a minority stake in Luminar.

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Who Uses Luminar Neo and Why Is It Important?

Who Uses Luminar Neo and Why Is It Important?

Luminar Hf and Gb Pro are low cost and robust dual mode lidars that meet the stringent safety requirements for the road while supporting Level 4 automation. Luminar Hf is the only dual mode lidar in production.

Luminar sensor integration delivers an industrial grade system that includes sensor hardware, software, intellectual property, and aftermarket service for automakers, Tier 1 suppliers, and sensor integrators. Luminar is uniquely positioned to create an end-to-end OEM-focused autonomous supply chain.

Luminars powerful software development platform supports all major autonomous technologies including traditional LiDAR, stereo vision, radar, GPS, and vehicle motion data. Software development is performed in C++, leveraging the power of Linux on NVIDIA hardware platforms.

Gores Metropoulos, a team that has deep experience in technology and automotive, is committed to working with Luminar to bring our cutting-edge sensor solutions to the next level of safety and offering a safe, efficient, and ubiquitous Level 5 self-driving vehicle to consumers, automakers, and tier 1 OEMs.

This milestone is pivotal not just for us, but also for the larger automotive industry, said Russell said in a statement. Eight years ago, we took on a problem to which most thought there would be no technically or commercially viable solution. We worked relentlessly to build the tech from the ground up to solve it and partnered directly with the leading global automakers to show the world whats possible. Today, we are making our next industry leap through our new long-term partnership with Gores Metropoulos, a team that has deep experience in technology and automotive and shares our vision of a safe autonomous future powered by Luminar.

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What’s new in Luminar Neo

What's new in Luminar Neo

  • Unlimited geo-tagging: Luminar Neo allows you to seamlessly add photos of the roadway and much more as a second parameter to route, detect, and measure locations and objects. Adding this new feature can enable Luminar to better understand lane markings, lane cones, road signs, and signs posted on the sides of buildings, which can improve route detection and collision avoidance.
  • Two new positioning modes: Luminar Neo now includes two different positioning modes. Luminar Neo can have a solution running in either GPS mode or GLONASS mode. Running in GPS mode, the device periodically receives a GPS signal to verify the positioning fixes are coming from a GPS satellite. Running in GLONASS mode, the device gets the positioning fix from a GLONASS satellite. Current hardware products can only run in GPS mode. Luminar Neo will be capable of being designed to run in either mode.

Luminar Neo Features

  • Industry-leading 20x detection accuracy at highway speeds
  • Industry-leading 24GHz scan rate
  • Industry-leading 25 microsecond refresh rate
  • Industry-leading superior sensitivity
  • Industry-leading noise, dynamic range, and sensitivity are surpassing the industry standard

Luminar Neo Registration Serial Key

  • CBSG0-IYT3E-NGQGS-065G5-H2O26-XG3T0

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