Category: Uncategorised

January 4, 2024

MISSISSAUGA, Ontario – Jan. 4, 2024 – Bruker (Nasdaq: BRKR) today announced the acquisition of Tornado Spectral Systems Inc., a Canadian company specializing in process Raman instruments, primarily used in pharma and biotech quality control applications. Tornado, with over a decade of experience in innovative and industry-proven Raman solutions, will enhance Bruker’s biopharma PAT portfolio with its well-established products. Financial details were not disclosed.
Tornado’s patented High-Throughput Virtual Slit (HTVS™) technology measures highest-quality spectra even in difficult Raman analyses. Tornado’s portfolio of Raman analyzers includes the HyperFlux™ PRO Plus, Process Guardian™ and SuperFlux™, all with excellent performance compared to traditional process Raman spectrometers, for more accurate chemical identification and quantification in mixtures and at low concentrations. Tornado analyzers also allow faster measurements of dynamic reactions, and with low laser power they permit safe operation even in hazardous environments.
Tornado’s product line also includes rugged, high-performance Raman probes for immersion, flow cell, non-contact and large-spot measurements, each optimized for different process environments. Tornado analyzers can be multiplexed with a fiber-switch accessory, with one analyzer monitoring up to eight probes at eight different sampling points.
Dr. Andreas Kamlowski, President of Bruker Optics, stated: “The acquisition of Tornado process Raman technology and product is a great fit to expand our range of biopharma PAT analyzers. We warmly welcome the talented Tornado team with valuable applications expertise and years of experience.”
Mr. Ambrish Jaiswal, the CEO of Tornado Spectral Systems, commented: “The Tornado team is proud to join Bruker. We believe that Bruker provides the ideal environment for our ongoing advancements in PAT, and we look forward to further expanding and enhancing Bruker’s spectroscopic process portfolio.”

About Tornado Spectral Systems

Founded in 2013, Tornado Spectral Systems designs, manufactures and sells chemical analysis systems based on Raman spectroscopy. Tornado’s non-destructive, real-time measurement solutions offer numerous benefits for established analytical practice and facilitate broader application of Raman methods for pharmaceutical, petrochemical, biotech, and other applications. Tornado’s headquarters is located in Mississauga, Canada, housing sales and marketing, engineering, technical support, and operations.

About Bruker Corporation

Bruker is enabling scientists to make breakthrough discoveries and develop new applications that improve the quality of human life. Bruker’s high performance scientific instruments and high value analytical and diagnostic solutions enable scientists to explore life and materials at molecular, cellular and microscopic levels. In close cooperation with our customers, Bruker is enabling innovation, improved productivity and customer success in life science molecular and cell biology research, in applied and pharma applications, in microscopy and nanoanalysis, as well as in industrial applications. Bruker offers differentiated, high-value life science and diagnostics systems and solutions in preclinical imaging, clinical phenomics research, proteomics and multiomics, spatial and single-cell biology, functional structural and condensate biology, as well as in clinical microbiology and molecular diagnostics.

December 14, 2023

DALLAS and TORONTO – Dec. 14, 2023 – Perimeter Medical Imaging AI, Inc. (TSXV: PINK) (OTC: PYNKF) (FSE: 4PC) (“Perimeter” or the “Company”) – a commercial-stage medical technology company – today announced a follow-on commercial placement of its flagship Perimeter S-Series OCT system at a new hospital site within one of the largest healthcare networks in North Texas, which is part of a major national healthcare system.

Perimeter’s flagship product, the S-Series OCT (Optical Coherence Tomography), is a pioneering medical imaging system that provides cross-sectional, real-time margin visualization of excised tissue specimens in the operating room at 10 times higher image resolution than X-ray and ultrasound, and 100 times greater image resolution than MRI.

Adrian Mendes, Perimeter’s Chief Executive Officer, stated, “We believe this additional commercial placement within a major national healthcare system – representing the fifth unit placed with this existing customer network – demonstrates that surgeon end users, as well as other stakeholders within the broader healthcare system, see the value of our technology and are recommending it to their peers. Our aim is to make Perimeter’s innovative technology the standard of care in cancer surgery.”

About Perimeter Medical Imaging AI, Inc.

Based in Toronto, Canada and Dallas, Texas, Perimeter Medical Imaging AI (TSX-V: PINK) (OTC: PYNKF) (FSE: 4PC) is a medical technology company driven to transform cancer surgery with ultra-high-resolution, real-time, advanced imaging tools to address areas of high unmet medical need. Available across the U.S., our FDA-cleared Perimeter S-Series OCT system provides real-time, cross-sectional visualization of excised tissues at the cellular level. The breakthrough-device-designated investigational Perimeter B-Series OCT with ImgAssist AI represents our next-generation artificial intelligence technology that is currently being evaluated in a pivotal clinical trial, with support from a grant of up to US$7.4 million awarded by the Cancer Prevention and Research Institute of Texas. The company’s ticker symbol “PINK” is a reference to the pink ribbons used during Breast Cancer Awareness Month.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Perimeter S-Series OCT has 510(k) clearance under a general indication and has not been evaluated by the U.S. FDA specifically for use in breast tissue, breast cancer, other types of cancer, margin evaluation, and reducing re-excision rates. The safety and effectiveness of these uses has not been established. For more information, please visit www.perimetermed.com/disclosures. Perimeter B-Series OCT is limited by U.S. law to investigational use and not available for sale in the United States.

Forward-Looking Statements

This news release contains statements that constitute “forward-looking information” within the meaning of applicable Canadian securities legislation. In this news release, words such as “may,” “would,” “could,” “will,” “likely,” “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate,” and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking information may relate to management’s future outlook and anticipated events or results and may include statements or information regarding the future financial position, business strategy and strategic goals, competitive conditions, research and development activities, projected costs and capital expenditures, research and clinical testing outcomes, plans and objectives of, or involving, Perimeter. Without limitation, information regarding the potential benefits of Perimeter S-Series OCT and Perimeter B-Series OCT, the expected benefits of Perimeter’s updated version of its ImgAssist AI, and the expected details regarding Perimeter’s ongoing clinical trials, are forward-looking information. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, any particular result will be achieved. No assurance can be given that any events anticipated by the forward-looking information will transpire or occur. Forward-looking information is based on information available at the time and/or management’s good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions, and other unpredictable factors, many of which are beyond Perimeter’s control. Such forward-looking statements reflect Perimeter’s current view with respect to future events, but are inherently subject to significant medical, scientific, business, economic, competitive, political, and social uncertainties and contingencies. In making forward-looking statements, Perimeter may make various material assumptions, including but not limited to (i) the accuracy of Perimeter’s financial projections; (ii) obtaining positive results from trials; (iii) obtaining necessary regulatory approvals; and (iv) general business, market, and economic conditions. Further risks, uncertainties and assumptions include, but are not limited to, those applicable to Perimeter and described in Perimeter’s Management Discussion and Analysis for the year ended December 31, 2022, which is available on Perimeter’s SEDAR+ profile at https://www.sedarplus.ca, and could cause actual events or results to differ materially from those projected in any forward-looking statements. Perimeter does not intend, nor does Perimeter undertake any obligation, to update or revise any forward-looking information contained in this news release to reflect subsequent information, events, or circumstances or otherwise, except if required by applicable laws.

November 2, 2023

CAMBRIDGE, Mass. – Nov. 2, 2023 – Arnasi Group (“Arnasi™”), formed by the team that created LiquiGlide® technology, has unveiled its new strategy focused on creating biomedical and consumer packaged goods (CPG) brands that enhance patient and consumer quality of life.

Chairman and CEO Dan Salain will lead the company after three years as COO of Aceragen, bringing 28 years of global pharmaceutical and CPG experience that includes over 20 product launches. Beyond the immense potential of LiquiGlide® technology, Salain believes that thoughtful internal brand development will help Arnasi™ address unmet patient and consumer needs through elevated product experiences.

“By leveraging our world-class patented technology from the Massachusetts Institute of Technology (MIT), we believe in focusing on product development to better tackle modern problems, where successful disruption can lead to life changing brands,” Salain said.

While LiquiGlide® technology remains the principal capability of Arnasi™, followers can expect ongoing innovation from a team with five MIT-trained scientists, including CTO and Co-Founder Dave Smith, a recipient of Forbes 30-under-30 honors.

As part of its refocus, Arnasi™ has added depth to its product and brand teams, signaling the company’s intent to push the boundaries of both technology and product experience. Joining Arnasi™ as EVP of Operations, industry veteran Brian Jackey has over 30 years of experience manufacturing and launching distinguished products, including Lucemyra for opioid withdrawal and Myobloc for sialorrhea. He is accompanied by Dr. Noah Wolfson, VP of program management, and Dr. Brienne Engel, director of business development. Wolfson has developed brand strategies for more than eight pre-commercial and commercial products, while Engel has facilitated hundreds of collaborations between academic, biotech, and pharmaceutical partners. Leading CPG commercial strategy is LiquiGlide veteran Dr. Sam Winslow, who is guiding development for upcoming consumer offerings.

“2024 is going to be a transformative year for us,” Winslow said. “We have such broad experience across categories, informing our focus on biomedical and CPG brand launches.”

About Arnasi

Arnasi™ is developing next-generation biomedical and CPG products by leveraging proprietary technology to improve user experience and health outcomes for patient populations with best-in-class products.

About LiquiGlide® technology

LiquiGlide® technology is a patented surface engineering technique that enables the creation of durable reduced-friction surfaces. TIME named LiquiGlide® technology one of the “Best Inventions of the Year” and Forbes awarded it “Best Food Innovation Of 2012.”

September 7, 2023

OTTAWA, Ontario – Sept. 7, 2023 – Corsa Security, leaders in scaling network security, today announced it has entered into an agreement with Eventus Security, the Mumbai-based India’s leading Managed Security Services Provider, to offer a hosted, managed virtual firewall service for their customers.

Eventus will be able to enhance its managed security services portfolio by moving to a virtual firewall service (VFS) running in their data center, using the Corsa Security Orchestrator (CSO) and software firewalls from leading vendors. Eventus will be able to offer their customers very rapid service delivery with complete flexibility in firewall capacity and security services to meet the exact customer needs.

“We know that virtualization of a hosted, managed firewall service brings many benefits to our customers and our operations, but we needed to avoid a DIY approach because of the expense and maintenance issues,” said Manish Chasta, Co-Founder & CTO, Eventus Security. “With the Corsa Security Orchestrator we can simply deploy software firewalls from the leading vendors at whatever service level our customers require and then quickly scale as their needs grow. We can operationalize the service with ease and are not left with legacy of code to maintain.”
“Corsa delivers a very compelling solution for managed service providers needing to offer Virtual Firewall Services,” says Eduardo Cervantes, CEO, Corsa Security. “We are pleased to team up with Eventus to bring on their service in the shortest time possible so their customers can benefit from a modern, flexible service model. In turn, Eventus will realize the ROI necessary to grow their business and continue to innovate in network security.”

The Corsa Security Orchestrator deploys, scales and optimizes virtual firewalls so Eventus’ customer support team can spin up new ones in minutes. Each customer, large or small, gets their own firewall VM or cluster of VMs and benefits from better security with the firewall security subscription that aligns to their needs or is compatible with their existing deployment. The Corsa Security Orchestrator monitors and controls the virtual firewalls so that Eventus can manage all their firewall VMs from a unified dashboard delivering speed, simplicity, and savings to their managed service offering.

August 24, 2023

OTTAWA, Ontario – Aug. 24, 2023 – Corsa Security, leaders in scaling network security, today announced it has entered into an agreement with Exordior Group, the Singapore headquartered leading managed security service provider having its direct presence across APAC and EMEA region, to offer a hosted, managed virtual firewall service for their customers in Singapore, Australia, Indonesia, India, Middle East and Africa.

Exordior will be able to quickly offer a modern virtual firewall service (VFS) for their customers, built upon the flexible, responsive Corsa Security Orchestrator (CSO) and software firewalls from leading vendors. Exordior customers will benefit from extremely quick deployment cycles and the ability to scale software firewalls as needed to meet varying throughput demands.

“We have been looking to virtualize our firewall-as-a-service to our end customers, but it has been difficult to find a solution that could be flexible to grow with our business while staying cost effective,” said Jitin Luthra, Managing Director, Exordior Group. “The Corsa Security Orchestrator lets us scale firewall capacity as needed so we can start customers off at one service level and easily grow them over time as needed. This keeps upfront spending reasonable and long-term investments can be progressive.”
“Corsa continues to show leadership with Virtual Firewall Services, and we are delighted to be working with Exordior,” says Eduardo Cervantes, CEO, Corsa Security. “They can get their service up and running very quickly because no DIY virtualization is needed. This will save on development costs and allow them to monetize the service quickly. Their customers will be the big beneficiaries of this time and investment savings.”

The Corsa Security Orchestrator deploys, scales and optimizes virtual firewalls so Exordior’s customer support team can spin up new ones in minutes. Each customer, large or small, gets their own firewall VM or cluster of VMs and benefits from better security with the firewall security subscription that aligns to their needs or is compatible with their existing deployment. The Corsa Security Orchestrator monitors and controls the virtual firewalls so that Exordior can manage all their firewall VMs from a unified dashboard delivering speed, simplicity, and savings to their managed service offering.

 

August 17, 2023

TORONTO and DALLAS – Aug. 17, 2023 – Perimeter Medical Imaging AI, Inc. (TSXV: PINK) (OTC: PYNKF) (FSE: 4PC) (“Perimeter” or the “Company”) – a commercial-stage medical technology company – announced the first commercial placement of its flagship Perimeter S-Series OCT medical imaging system in the state of Georgia, which will be used at Candler Hospital, a part of St. Joseph’s/Candler, in Savannah under the direction of breast surgeons, Catherine Ronaghan, MD and Emma Walker, DO.

Perimeter S-Series OCT, which received FDA 510(k) clearance in 2021, is a medical imaging tool that uses Optical Coherence Tomography (OCT) to provide clinicians with cross-sectional, real-time margin visualization (1-2 mm below the surface) of an excised tissue specimen. It provides 10 times higher image resolution than X-ray and ultrasound, and 100 times greater image resolution than MRI.

Dr. Catherine Ronaghan stated, “During breast conservation surgery, breast cancer surgeons strive to achieve ‘clean’ margins while also preserving healthy tissue. Typically, surgeons and their patients must wait several days post-procedure before a pathology report on margin status is available, with some patients facing another surgery if cancer is left behind. With its ability to visualize tissue structures at the cellular level down to a 2mm depth, I believe Perimeter S-Series OCT will assist me to make informed decisions on margin status real-time in the OR, with the goal of providing the best care and outcomes for my patients.”

Adrian Mendes, Perimeter’s Chief Executive Officer, stated, “Our aim at Perimeter is to develop and deliver innovative technologies that improve patient outcomes and reduce healthcare costs. This latest commercial placement of our flagship Perimeter S-Series OCT, which marks the first in the state of Georgia, supports our goal to bring ultra-high resolution medical imaging technology directly into the OR to assist the surgeon with real-time intraoperative margin visualization.”

About Perimeter Medical Imaging AI, Inc.

Based in Toronto, Canada and Dallas, Texas, Perimeter Medical Imaging AI (TSX-V: PINK) (OTC: PYNKF) (FSE: 4PC) is a medical technology company driven to transform cancer surgery with ultra-high-resolution, real-time, advanced imaging tools to address areas of high unmet medical need. Available across the U.S., our FDA-cleared Perimeter S-Series OCT system provides real-time, cross-sectional visualization of excised tissues at the cellular level. The breakthrough-device-designated investigational Perimeter B-Series OCT with ImgAssist AI represents our next-generation artificial intelligence technology that is currently being evaluated in a pivotal clinical trial, with support from a grant of up to US$7.4 million awarded by the Cancer Prevention and Research Institute of Texas. The company’s ticker symbol “PINK” is a reference to the pink ribbons used during Breast Cancer Awareness Month.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This news release contains statements that constitute “forward-looking information” within the meaning of applicable Canadian securities legislation. In this news release, words such as “may,” “would,” “could,” “will,” “likely,” “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate,” and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking information may relate to management’s future outlook and anticipated events or results and may include statements or information regarding the future financial position, business strategy and strategic goals, competitive conditions, research and development activities, projected costs and capital expenditures, research and clinical testing outcomes, plans and objectives of, or involving, Perimeter. Without limitation, information regarding the potential benefits of Perimeter S-Series OCT and Perimeter B-Series OCT, the expected benefits of Perimeter’s updated version of its ImgAssist AI, and the expected details regarding Perimeter’s ongoing clinical trials, are forward-looking information. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, any particular result will be achieved. No assurance can be given that any events anticipated by the forward-looking information will transpire or occur. Forward-looking information is based on information available at the time and/or management’s good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions, and other unpredictable factors, many of which are beyond Perimeter’s control. Such forward-looking statements reflect Perimeter’s current view with respect to future events, but are inherently subject to significant medical, scientific, business, economic, competitive, political, and social uncertainties and contingencies. In making forward-looking statements, Perimeter may make various material assumptions, including but not limited to (i) the accuracy of Perimeter’s financial projections; (ii) obtaining positive results from trials; (iii) obtaining necessary regulatory approvals; and (iv) general business, market, and economic conditions. Further risks, uncertainties and assumptions include, but are not limited to, those applicable to Perimeter and described in Perimeter’s Management Discussion and Analysis for the year ended December 31, 2022, which is available on Perimeter’s SEDAR+ profile at https://www.sedarplus.ca, and could cause actual events or results to differ materially from those projected in any forward-looking statements. Perimeter does not intend, nor does Perimeter undertake any obligation, to update or revise any forward-looking information contained in this news release to reflect subsequent information, events, or circumstances or otherwise, except if required by applicable laws.

April 25, 2023

TORONTO and DALLAS – Apr. 25, 2023 – Perimeter Medical Imaging AI, Inc. (TSXV: PINK) (OTC: PYNKF) (FSE: 4PC) (“Perimeter” or the “Company”) – a medical technology company driven to transform cancer surgery with ultra-high-resolution, real-time, advanced imaging tools to address high unmet medical needs – announced the first commercial placement of its flagship Perimeter S-Series OCT system in the state of Utah, which will be used under the direction of breast surgeon, Jennifer J. Tittensor, MD, FACS.

Perimeter S-Series OCT received FDA 510(k) clearance in 2021 and is a medical imaging tool that uses Optical Coherence Tomography (OCT) to provide clinicians with cross-sectional, real-time margin visualization (1-2 mm below the surface) of an excised tissue specimen.

Jeremy Sobotta, Perimeter’s Chief Executive Officer stated, “As we continue to reach out to leading surgeons across the U.S. to educate about the benefits of our flagship Perimeter S-Series OCT, we are pleased to report this first commercial placement in Utah. The momentum continues to build in our sales pipeline, resulting in increased leads and demonstrations with key opinion leaders, like Dr. Tittensor, who represent the champions and initial adopters of our ground-breaking technology.”

Jennifer J. Tittensor, MD, FACS, “Surgeons have long recognized the challenge of achieving ‘clean’ margins while preserving healthy tissue during breast conservation surgery. I believe Perimeter S-Series OCT will assist me to make informed decisions on margin status ‘real-time’ in the OR, with the goal of providing the best care and outcomes for my patients.”

About Perimeter Medical Imaging AI, Inc.

Based in Toronto, Canada and Dallas, Texas, Perimeter Medical Imaging AI (TSX-V: PINK) (OTC: PYNKF) (FSE: 4PC) is a medical technology company driven to transform cancer surgery with ultra-high-resolution, real-time, advanced imaging tools to address areas of high unmet medical need. Available across the U.S., our FDA-cleared Perimeter S-Series OCT system provides real-time, cross-sectional visualization of excised tissues at the cellular level. The breakthrough-device-designated investigational Perimeter B-Series OCT with ImgAssist AI represents our next-generation artificial intelligence technology that is currently being evaluated in a pivotal clinical trial, with support from a grant of up to US$7.4 million awarded by the Cancer Prevention and Research Institute of Texas. The company’s ticker symbol “PINK” is a reference to the pink ribbons used during Breast Cancer Awareness Month.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This news release contains statements that constitute “forward-looking information” within the meaning of applicable Canadian securities legislation. In this news release, words such as “may,” “would,” “could,” “will,” “likely,” “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate,” and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking information may relate to management’s future outlook and anticipated events or results and may include statements or information regarding the future financial position, business strategy and strategic goals, competitive conditions, research and development activities, projected costs and capital expenditures, research and clinical testing outcomes, plans and objectives of, or involving, Perimeter. Without limitation, information regarding the potential benefits of Perimeter S-Series OCT and Perimeter B-Series OCT, the expected benefits of Perimeter’s updated version of its ImgAssist AI, and the expected details regarding Perimeter’s ongoing clinical trials, are forward-looking information. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, any particular result will be achieved. No assurance can be given that any events anticipated by the forward-looking information will transpire or occur. Forward-looking information is based on information available at the time and/or management’s good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions, and other unpredictable factors, many of which are beyond Perimeter’s control. Such forward-looking statements reflect Perimeter’s current view with respect to future events, but are inherently subject to significant medical, scientific, business, economic, competitive, political, and social uncertainties and contingencies. In making forward-looking statements, Perimeter may make various material assumptions, including but not limited to (i) the accuracy of Perimeter’s financial projections; (ii) obtaining positive results from trials; (iii) obtaining necessary regulatory approvals; and (iv) general business, market, and economic conditions. Further risks, uncertainties and assumptions include, but are not limited to, those applicable to Perimeter and described in Perimeter’s Management Discussion and Analysis for the year ended December 31, 2022, which is available on Perimeter’s SEDAR+ profile at https://www.sedarplus.ca, and could cause actual events or results to differ materially from those projected in any forward-looking statements. Perimeter does not intend, nor does Perimeter undertake any obligation, to update or revise any forward-looking information contained in this news release to reflect subsequent information, events, or circumstances or otherwise, except if required by applicable laws.

February 9, 2023

ALISO VIEJO, Calif. & SAN JOSE, Calif. – Feb. 9, 2023 – indie Semiconductor (Nasdaq: INDI), an Autotech solutions innovator, today announced it has entered a definitive agreement to purchase GEO Semiconductor, Inc., a market leader in video processors for automotive cameras. Acquisition of GEO, a private fabless semiconductor supplier, adds immediate scale to indie’s Image Processing program and enables true sensor fusion of Radar, LiDAR, Ultrasound and Computer Vision solutions in advanced driver-assistance systems (ADAS) applications. The transaction is expected to close in the first quarter of 2023, subject to customary closing conditions.

Underpinned by 100 global patents, GEO’s industry leading, camera-based sensing and viewing capabilities are shipping today to some of the world’s largest automotive OEMs including Honda, Hyundai, Kia, Nissan and Toyota. With design wins across more than 20 Tier 1s and 400 car models, GEO has programs with every major image sensor supplier in the world and is engaged in multiple EV and autonomous vehicle programs.

Image processing systems are playing an increasingly critical role in ADAS applications with more than 20 cameras on board next generation vehicles serving different functions from object and lane detection, to surround view, night vision and driver and occupant monitoring. Collectively, these functions are enabling key use cases such as lane change assist, highway pilot, e-mirror, blind spot detection, occupant safety, automated parking and higher levels of driver automation. In fact, given the increasing attach rate of cameras around the vehicle, IHS is forecasting 265 million camera ECUs will be needed to support the global automotive market in 2023, growing to 430 million units by 2028 and creating an $8.5 billion total addressable semiconductor market.

GEO’s products comprise three generations of application specific camera video processors, including those focused on viewing, where video is projected on a display and viewed by the driver, and sensing, where video is processed using advanced computer vision and machine learning algorithms to assist the driver. The unique ability to support both of these key categories will allow indie to deliver solutions in applications ranging from simple backup cameras to full Autonomous Driving platforms.

“It’s rare that acquisition targets are a perfect fit, but this is indeed the case with GEO. Camera processing is at the core of the majority of use cases within ADAS applications. indie’s acquisition of GEO Semiconductor immediately rounds out our Computer Vision product portfolio with field-proven, differentiated solutions, enabling us to capitalize on the rapid proliferation of automotive image processors. At a higher level, GEO is complementary in terms of products, customers and global sales channels while, at the same time, highly synergistic operationally with massive cross selling opportunities,” said Donald McClymont, indie’s co-founder and CEO. “Further, this acquisition completes our sensor fusion mosaic spanning Radar, LiDAR, Ultrasound and Computer Vision, bringing us a major step closer towards realizing our strategic vision of enabling the uncrashable car and creating an Autotech powerhouse.”

“We are extremely excited to be joining forces with indie. As a relatively small private company, GEO has made remarkable progress since our founding in 2009 and full pivot to automotive product development in 2015. We’ve launched truly breakthrough vision processing ADAS solutions but were limited in the size of programs we could win,” said Dave Orton, GEO Semiconductor’s president and CEO. “Leveraging the indie platform and their proven scalability, we can now unleash GEO’s full potential and offer leading Tier 1s and car OEMs unprecedented camera resolution, low latency, power efficiency and ultra-fast processing of image data for enhanced safety systems within next generation vehicles.”

Subject to the terms and conditions of the definitive agreement, indie will pay $180 million in the aggregate to GEO equity and debt holders at closing, comprised of $90 million in cash plus approximately 12 million indie Class A common shares, based on a 20-day VWAP. In addition, if certain performance targets are exceeded over an 18-month post-closing period, there is an opportunity for such holders to earn up to $90 million more in equity, collared between $8.50 and $11.50 per INDI Class A common share. The transaction has been approved by the boards of directors of both indie and GEO. indie expects the acquisition to be accretive to 2023 non-GAAP earnings per share.

The securities to be issued in connection with the transaction have not been registered under the Securities Act of 1933 and may not be resold absent registration under or exemption from such Act. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities.

About indie

indie is empowering the Autotech revolution with next-generation automotive semiconductors and software platforms. We focus on edge sensors spanning multiple modalities, including radar, LiDAR, ultrasound and computer vision for Advanced Driver Assistance Systems (ADAS), user experience and electrification applications. These technologies represent the core underpinnings of both electric and autonomous vehicles while our advanced user interfaces enabled by our mixed-signal SoCs transform the in-cabin experience to mirror and seamlessly connect to the mobile platforms we rely on every day. We are an approved vendor to Tier 1 partners and our solutions can be found in marquee automotive OEMs around the world. Headquartered in Aliso Viejo, CA, indie has design centers and sales offices in Austin, TX; Boston, MA; Detroit, MI; San Francisco and San Jose, CA; Córdoba, Argentina; Budapest, Hungary; Dresden, Munich and Nuremburg, Germany; Cambridge, England; Edinburgh, Scotland; Rabat, Morocco; Haifa and Tel Aviv, Israel; Quebec City, Canada; Tokyo, Japan; Seoul, South Korea and several locations throughout China.

About GEO Semiconductor

GEO Semiconductor Inc. is a private fabless semiconductor company developing camera video processors for automotive viewing and ADAS cameras. GEO’s value proposition is to provide automotive Tier 1s with the best hardware, tools, and support to guarantee exceptional image quality and system performance. GEO is headquartered in San Jose, CA with global representation in the U.S., Canada, Europe, China, Japan, Korea, and Taiwan. The company is led by world-class imaging and video professionals with extensive experience in research, implementation, and optimization of image signal processing, geometric processing, and computer vision processing for embedded platforms.

January 4, 2023

San Diego, Calif. – Jan. 4, 2023 – Ubilite Inc. (“UBILITE”) announced today that Peter L. Gammel has joined the company as its new CEO. Mr. Gammel most recently held the position of vice president and CTO of the Mobile and Wireless Infrastructure Business Unit at GlobalFoundries. Previously, he was the CTO of Skyworks Solutions, Inc. and also served as CTO and vice president of engineering at SiGe Semiconductor before its acquisition by Skyworks. Prior to SiGe Semiconductor, he was vice president of engineering at Renaissance Wireless and CTO at Advance Nanotech and for Agere Systems’ Analog Products Business. He was also a distinguished member of technical staff at Alcatel-Lucent Bell Labs.
Gammel received a bachelor of science in physics and mathematics from Massachusetts Institute of Technology and a Ph.D. in physics from Cornell University. With over 40 years of experience in the semiconductor and wireless connectivity, Gammel will be instrumental in driving commercialization of UBILITE’s low-power wireless technology.
“I am excited to join the UBILITE team. With its patented ground-breaking innovative ultra-low power Wi-Fi solution, UBILITE is positioned to revolutionize connectivity for IoT devices. UBILITE’s UBI206 SoC and modules will unleash the true potential of IoT with order of magnitude improvements in power consumption compared to competing Wi-Fi solutions and better power consumption than most Bluetooth solutions at up to 10-20x the data rate”, said Gammel.

“We are now sampling our solution to key partners and customers”, said Ismail Lakkis, Founder, CTO and executive chairman of UBILITE. “Peter’s wide and deep expertise in the semiconductor industry will accelerate our company’s growth and position us as the global leader in ultra-low power Wi-Fi.”

About Ubilite Inc.

Founded in 2014, UBILITE is a fabless semiconductor company developing the lowest-power Wi-Fi SoC for IoT applications. UBILITE’s UBI206 Wi-Fi SoC has power consumption that is lower than Bluetooth at up to 10-20x the data rate. Its ultra-lower consumption in active and sleep states enables very long battery life or the ability to use energy harvesting to enable continuous operation for many years.

November 22, 2022

OTTAWA, Ontario – Nov. 22, 2022 – Corsa Security announced today that it has added new capabilities to its Corsa Security Orchestrator (CSO) software so that network security professionals can quickly and easily scale inspection capacity to terabits of traffic. The development means enterprises and service providers can group virtual firewalls—from leading vendors like Palo Alto Networks and Fortinet—into clusters and load balance traffic across the group of virtual firewalls to build large blocks of inspection capacity. With the industry embracing 5G and its higher bandwidth, latency and security demands, this now makes it possible to ensure security functions are keeping pace and inspecting all traffic flowing through the network at any given time.

Enterprises and service providers alike are adapting their networks and embracing 5G, including private 5G networks, Multi-Access Edge Computing (MEC) and network slicing. However, with the vast amount of IoT devices and large numbers of user sessions with huge volumes of video and conference streaming, there is a dramatic increase in bandwidth, making it a challenge for security functions to keep up. With the updated Corsa Security Orchestrator, network and security teams now have the capability to software load balance across clusters of virtual firewalls and scale inspection capacity. As traffic continues to grow, the team can upgrade with a single-click in the CSO, adding more virtual firewall resources to the existing cluster.

“To protect this new 5G-driven infrastructure, security must be flexible yet able to quickly scale to very high levels,” explains Eduardo Cervantes, CEO of Corsa Security. “There is really only one way to get this flexibility, which is to deploy virtual firewalls where and when needed that inspect all the traffic flowing through the network. But then you also need to scale these virtual firewall clusters, which is now possible with our solution that offers push-button, software load balancing for terabits of inspection capacity.”
What makes this all possible is the Corsa Security Orchestrator, which binds the worlds of network security (the firewall inspection) to the underlying network (server infrastructure). It performs key functions required for large-scale firewall virtualization and flexible traffic inspection at any scale, including:

  • Automation of bootstrap and initial configuration of NGFW VMs
  • Provisioning of policy settings to the VMs in a zero-touch way
  • Software load balancing for optimal virtual firewall performance within clusters
  • Flow tracking for intelligent traffic steering to and from VMs
  • Health check mechanism to monitor VM and system performance
  • Push-button virtual firewall cluster upgrades to scale to Tbps.

Security professionals can now deploy, scale and optimize virtual firewalls for terabits of traffic inspection with speed, simplicity and savings.