Tobii has entered into an agreement to acquire the AutoSense business from Xperi for a minimum consideration of USD 45 million.
This transformational Transaction accelerates Tobii’s path to leadership in the Automotive Interior Sensing market by combining the capabilities of Tobii and AutoSense. The new Tobii Autosense business segment (the “Segment”) has significant design wins with seven OEMs who represent more than 15 percent of the global annual automobile production. The Segment is expected to generate SEK 500 million of revenue in 2028 and reach cash flow break-even in 2026. To finance the operational expenses needed for the Segment in 2024 and 2025, Tobii intends to raise SEK 300 million through a rights issue during the first quarter of 2024. As a result of the Transaction, Tobii Group expects a substantial EBIT improvement in 2024 and intends to present new targets for the group during the first quarter 2024.
Automotive Interior Sensing is a fast-growing industry that includes both DMS and OMS. This market is growing rapidly due to safety regulations mandating its use starting in Europe and an increased focus on safety, comfort and convenience features. The global DMS market is forecasted to reach revenues of approximately USD 5 billion by 2033[1].
Tobii’s mission is to improve the world with technology that understands human attention and intent, a new technology domain named attention computing. Automotive Interior Sensing, which will reduce the number of automotive injuries and fatalities, is a core part of Tobii’s attention computing ambition. The technology capabilities required for Automotive Interior Sensing are valuable in other verticals where Tobii is active, including scientific research, personal computing and extended reality.
The acquisition brings together the capabilities of Tobii and AutoSense enabling Tobii to deliver one of the strongest product offerings in the Automotive Interior Sensing market. The Transaction also brings a set of significant customer design wins. It is expected that the Transaction will unlock both significant cost and scalability synergies by reducing overlapping investments and reusing technologies into other verticals. The combination of product offering and market credibility will accelerate Tobii’s path to leadership in Automotive Interior Sensing.
Anand Srivatsa, CEO of Tobii,
Tobii’s ambition is to be a long-term global leader in the Automotive Interior Sensing market. I am thrilled that with this acquisition we have accelerated this timeline significantly. The combination of AutoSense and Tobii’s DMS will deliver one of the most comprehensive Interior Sensing offerings and brings the credibility of multiple marquee design wins with a demonstrated ability to deliver these technologies into cars on the road
