Luminar Founder Bids to Reacquire Lidar Firm in Potential Board-Backed Deal
Luminar Technologies founder Austin Russell has launched a bid to acquire the lidar company he previously led, in what sources indicate may be a board-encouraged move rather than a hostile takeover. The transportation technology sector also saw significant developments in electric aviation funding and autonomous vehicle partnerships this week.
Luminar Founder Seeks Company Acquisition
In a surprising twist, Austin Russell, the billionaire founder who previously stepped down as CEO of Luminar Technologies, has made a bid to acquire the lidar company, according to reports from TechCrunch. Sources indicate this potential takeover might not be hostile despite initial appearances, with board members reportedly having approached Russell about the idea last month.