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ICR Inc. handles LeddarTech as the provider of automotive sensors and perception software goes public via a SPAC deal valued at $348M with Prospector Capital Corp.
Former Qualcomm president Derek Aberle and vice chairman Steve Altman lead Prospector.
Quebec City-based LeddarTech cites a McKinsey study that projects the advanced driver assistance systems and autonomous driving market will hit the $42B mark in 2030.
CEO Charles Boulanger said the partnership with Prospector will “solidify our position as a leading force in the nascent automotive software sector.”
He noted that LeddarTech’s listing on the Nasdaq market will make it “one of the rare public companies in the pure-play ADAS/AD software space.”
LeddarTech president/COO Frantz Saintellemy will succeed Boulanger, who has been at the helm since 2013, once the SPAC deal closes. Aberle will assume the chairman post.
LeddarTech has R&D facilities in Montreal, Toronto and Tel Aviv.
ICR Inc.’s Kevin Hunt is working the investment community, while Dan Brennan handles media for the LeddarTech transaction.
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