LeddarTech and Texas Instruments Form Strategic Collaboration for Advanced Driver Assistance Systems and Autonomous Driving Markets

MT Newswires Live12-09

LeddarTech (LDTC) said Monday it entered into a strategic collaboration and software license agreement with Texas Instruments (TXN) to deliver a comprehensive, integrated platform for advanced driver assistance systems, or ADAS, and autonomous driving markets.

Under the agreements, Texas Instruments will make advanced royalty payments to support joint commercialization of the integrated platform.

Texas Instruments will market a bundled service featuring LeddarTech's LeddarVision software pre-integrated with its TDA scalable Arm-based processors, the statement said.

In a separate statement, LeddarTech said it amended its financial arrangements to support the collaboration, reaching an agreement with Desjardins to temporarily postpone interest payments and suspend the minimum cash covenant under its credit facility, contingent upon receiving the first installment of the pre-paid royalty fee or new equity investments. LeddarTech will reinstate minimum cash balance requirements once these conditions are met, the company said. Additionally, LeddarTech extended the maturity date of its bridge loan under its bridge financing offer, with the revised maturity date being tied to the disbursement of the royalty payment.

LeddarTech shares were up over 370% in recent premarket trading.

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