Ropes & Gray represented MicroVision, Inc. (Nasdaq:MVIS) in its acquisition of certain assets from Luminar Technologies, Inc., including IP and inventory related to the Iris and Halo lidar sensors, key engineering and operations talent, and certain commercial contracts and orders. The acquisition closed on Feb. 3.
MicroVision was selected as the winning bidder at a competitive auction conducted by Luminar under Section 363 of the U.S. Bankruptcy Code with a cash purchase price of $33 million for certain assets, employees, and contracts associated with Luminar's lidar business.
Microvision is a developer and supplier of integrated lidar hardware and perception software solutions. Microvision's proprietary technologies enhance safety and automation across various industrial applications, including robotics, automated warehouses, and agriculture, and are instrumental in the development of autonomous systems.
The team was led by business restructuring associate Luke Smith, M&A partner David Harris and associate Jeff Bashara, and M&A and capital markets partner Tom Fraser.
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