SAN JOSE, Calif. — (BUSINESS WIRE) — October 8, 2020 — Velodyne Lidar, Inc. (NASDAQ: VLDR, VLDRW) and RoboSense (Suteng Innovation Technology Co., Ltd.) are pleased to announce that the two companies have entered a long‑term global cross-licensing relationship encompassing a broad range of 360° surround-view lidar sensors. This mutually beneficial relationship covers both existing and future patents of both companies. Velodyne and RoboSense have also agreed to dismiss all the current legal proceedings in the U.S and China that exist between the two companies. Velodyne and RoboSense are looking forward to a lidar market that will offer highly diverse products for real time 3D sensing applications to benefit the community of autonomous vehicles and other applications.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201008005956/en/
About Velodyne Lidar
Velodyne Lidar (NASDAQ: VLDR) ushered in a new era of autonomous technology with the invention of real-time surround view lidar sensors. Velodyne is the first public pure-play lidar company and is known worldwide for its broad portfolio of breakthrough lidar technologies. Velodyne’s revolutionary sensor and software solutions provide flexibility, quality and performance to meet the needs of a wide range of industries, including autonomous vehicles, advanced driver assistance systems (ADAS), robotics, unmanned aerial vehicles (UAV), smart cities and security. Through continuous innovation, Velodyne strives to transform lives and communities by advancing safer mobility for all. For more information, visit www.velodynelidar.com.
Forward Looking Statements
This press release contains "forward looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995 including, without limitation, all statements other than historical fact and include, without limitation, statements regarding Velodyne’s target markets, new products, development efforts, competition. When used in this press release, the words "estimates," "projected," "expects," "anticipates," "forecasts," "plans," "intends," "believes," "seeks," "may," "will," "should," "future," "propose" and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside Velodyne's control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include Velodyne's ability to manage growth; Velodyne's ability to execute its business plan; uncertainties related to the ability of Velodyne's customers to commercialize their products and the ultimate market acceptance of these products; the uncertain impact of the COVID-19 pandemic on Velodyne's and its customers' businesses; uncertainties related to Velodyne's estimates of the size of the markets for its products; the rate and degree of market acceptance of Velodyne's products; the success of other competing lidar and sensor-related products and services that exist or may become available; Velodyne's ability to identify and integrate acquisitions; uncertainties related to Velodyne's current litigation and potential litigation involving Velodyne or the validity or enforceability of Velodyne's intellectual property; and general economic and market conditions impacting demand for Velodyne's products and services. Velodyne undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
View source version on businesswire.com: https://www.businesswire.com/news/home/20201008005956/en/
Contact:
Investor Relations
Andrew Hamer
Chief Financial Officer
InvestorRelations@velodyne.com
Media
Landis Communications Inc.
Sean Dowdall
(415) 286-7121
velodyne@landispr.com