(MENAFN- RealWire)
Investment strengthens Preciseley's entry into Automotive ADAS and Autonomous Driving platforms with MEMS solutions for solid state LiDAR systems
EDMONTON, Alberta – December 8, 2021 – Preciseley Microtechnology Corporation (PMC), a global leader in optic MEMS solutions, today announced that Hankook & Company and Hankook Tire & Technology have made a strategic investment in the company as a major shareholder. The investment is subject to regulatory approval and is expected to close during the first calendar quarter of 2022. This investment strengthens PMC's entry into Automotive ADAS and Autonomous Driving (AD) platforms with its MEMS LiDAR technology. PMC's optical MEMS technology further supports in-cabin monitoring, heads-up displays (HUD) and advanced front lighting systems. The existing shareholders led by ACE Equity Partners and company founder Dr. Zhou welcome Hankook Group's investment in PMC and look forward to working together closely to support the company's continued growth.
PMC is a leading global supplier of optical MEMS solutions to the fiber optic telecommunications and data networking markets. The company's core MEMS technology addresses multiple high-growth industry megatrends in 5G communications infrastructure, data center networks, automotive ADAS and AD, machine vision and emerging AR/VR applications for the evolving metaverse.
The investment by Hankook & Company and Hankook Tire & Technology in PMC is part of its strategy to develop new high-growth businesses utilizing key emerging technologies for automotive electronics, machine vision and industrial automation systems. PMC's optical MEMS technology platform is ideally suited to address these new applications, benefiting from the company's proven ability to ship millions of units in demanding telecommunications and data networking systems with industry leading quality.
“Hankook & Company's investment in PMC is part of our S.T.R.E.A.M. growth portfolio strategy that encompasses S mart energy, T ire and core business, R ising technology, E lectrification, A utomation and M obility,” said Hyunbum Cho, president and CEO of Hankook & Company.“We welcome the PMC team and look forward to supporting the company's expansion into new high-growth applications.”
“As a leading global supplier to the automotive industry, we're pleased to have Hankook & Company and Hankook Tire & Technology invest in the business to help expand our product portfolio and provide access to new customers in emerging applications,” said Michael Prahl, chairman of PMC's board of directors.
“Building on our industry-leading optic MEMS technology portfolio, PMC is strongly positioned to address fast-growth applications levered to secular megatrends in 5G networks, data centers, automotive ADAS and AD (LiDAR) and AR/VR applications,” said David Somo, president and CEO of Preciseley.“We're excited to have Hankook & Company and Hankook Tire & Technology as investors in PMC and look forward to collaborating with them to enter new markets that can accelerate company growth.”
About Preciseley Microtechnology Corporation
Preciseley Microtechnology Corporation (PMC) is a global leader in optic MEMS solutions for optical communications systems, automotive and 3D sensing applications. The company offers innovative MEMS solutions that help design engineers solve complex problems for 5G telecommunications infrastructure, data center networks, automotive LiDAR and laser lighting systems, industrial LiDAR and machine vision systems, AR/VR, and biometrics applications. For more information, visit .
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Preciseley Microtechnology Corporation, PMC and the Preciseley Microtechnology Corporation logo are trademarks of Preciseley Microtechnology Corporation. All other brand and product names appearing in this document are registered trademarks or trademarks of their respective holders. Although the company references its web site in this news release, such information on the web site is not to be incorporated herein.
Company Contact
Joe Huising
VP Finance
Preciseley Microtechnology Corporation
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