Indie Semiconductor, Inc. acquired ON Design Israel Ltd. for $20 million.
November 21, 2021
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indie Semiconductor, Inc. (NasdaqCM:INDI) acquired ON Design Israel Ltd for $20 million on on October 1, 2021. indie Semiconductor acquired ON Design for $4.974 million in cash at closing, $7.5 million of cash to be paid in 2022 and up to $7.5 million of cash based on design win performance. Upon completion of the acquisition, ON Design Israel was renamed to indie Semiconductor Design Israel Ltd.
indie Semiconductor, Inc. (NasdaqCM:INDI) completed the acquisition of ON Design Israel Ltd on October 1, 2021. O'Melveny & Myers LLP acted as legal advisor to indie Semiconductor, Inc.
indie Semiconductor, Inc. offers automotive semiconductors and software solutions for advanced driver assistance systems (ADAS), driver automation, in-cabin, user experience (including connected car) and electrification applications. The Company is focused on edge sensors across multiple modalities spanning light detection and ranging (LiDAR), radar, ultrasound and computer vision. It is an approved vendor to Tier 1 automotive suppliers and its platforms can be found in marquee automotive manufacturers around the world. It has design centers in Austin, Texas; Boston, Massachusetts; Detroit, Michigan; San Francisco and San Jose, California; Cordoba, Argentina; Budapest, Hungary; Dresden, Frankfurt an der Oder, Munich and Nuremberg, Germany; Edinburgh, Scotland; Schlieren, Switzerland; Rabat, Morocco; Haifa, Israel; Quebec City and Toronto, Canada; Seoul, South Korea; Tokyo, Japan, and several locations throughout China. The Company is engaged subcontractors to manufacture its products.
INDIE SEMICONDUCTOR, INC. 
