M&A · Industrials · General Industrial Machinery & Equipment, NEC
Ouster, Inc. to acquire Velodyne Lidar, Inc.
Announced Nov 7, 2022 · Closed Feb 13, 2023
Deal value—
Premium—To unaffected price
EV / Adj. EBITDA—
ConsiderationAll stock
Transaction
- Acquirer
- Ouster, Inc. (OUST)
- Target
- Velodyne Lidar, Inc.
- Buyer type
- Strategic
- Offer price per share
- —
- Enterprise value
- —
- Status
- Closed Feb 13, 2023
Deal protections
- Break fee (target pays)
- $7.0M
- Reverse fee (buyer pays)
- $7.0M
- Go-shop
- —
- Financing
- —
Advisors
- To the acquirer
- Barclays
- To the target
- BofA Securities
Sector context · Industrials
- Comparable deals
- 81 in the prior 24 months
- Premium
- Sector median 47.4%
- EV / Adj. EBITDA
- Sector median 11.1x
- Break fee
- Sector median 2.8%
Timeline
- AnnouncedNov 7, 2022
- Proxy filedDec 8, 2022
- Definitive proxyDec 8, 2022
- Shareholder voteJan 26, 2023
- ClosedFeb 13, 2023
Valuation · fairness opinions
Discounted cash flowBarclays$0.69$1.67
Discounted cash flowBarclays$0.70$1.46
Discounted cash flowBarclays$1.07$2.28
Trading comparablesBofA Securities$0.92$1.51
Discounted cash flowBofA Securities$0.66$1.27
Discounted cash flowBofA Securities$0.83$7.83
Analyst price targetsBofA Securities$1.31$10.50
Trading comparablesBofA Securities$0.64$1.43
Implied value per Velodyne Lidar, Inc. share by analysis, from Barclays and BofA Securities.