
The New Report from Hampleton Partners Shows SPACs Impacting Autotech Exit Market
The largest acquisition in Autotech was Gores Metropoulos' $3.4 billion purchase of Luminar Technologies in August 2020, after which the company was listed on the Nasdaq.
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CIO Applications Europe | Friday, April 02, 2021

The largest acquisition in Autotech was Gores Metropoulos' $3.4 billion purchase of Luminar Technologies in August 2020, after which the company was listed on the Nasdaq. Advanced long-range, high-resolution lidar and perception systems are provided by Luminar Technologies to allow secure autonomous transportation.
FREMONT, CA: The new Autotech M&A business study from Hampleton Partners, a multinational technology mergers and acquisitions advisor, shows that "special purpose acquisition companies" led two of the three largest Autotech deals in the second half of 2020. (SPACs).
The largest acquisition in Autotech was Gores Metropoulos' $3.4 billion purchase of Luminar Technologies in August 2020, after which the company was listed on the Nasdaq. Advanced long-range, high-resolution lidar and perception systems are provided by Luminar Technologies to allow secure autonomous transportation.
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The third-largest acquisition was by SPAC Thunder Bridge, which bought "system-on-chip" manufacturer Ay Dee Kay, now known as Indie Semiconductor, for $1.5bn. Indie Semiconductor's integrated semiconductor and software solutions support new automotive applications.
All in all, the Autotech sector witnessed an increase in the number of M&A transactions in the second half of 2020, with 50 deals inked, a 25 percent increase compared to the 40 deals recorded in 1H2020 and the highest level since 2H2017.
Effect of Covid-19 on Automotive
In the first half of 2020, Covid-19 wreaked havoc on the automotive supply chain and a variety of strategic players. The auto industry's supply chain was hampered as the coronavirus crisis occurred, with restricted access to parts and raw materials imported from China. Simultaneously, the industry experienced a significant drop in demand, with profits plummeting in the face of unemployment and financial instability.
In 2020, the number of new passenger car registrations in the EU dropped by 24%. France, Italy, and Spain, which were all hard hit by the Covid-19 pandemic, saw above-average sales declines of 26%, 28%, and 32% in 2020, respectively.
FREMONT, CA: The new Autotech M&A business study from Hampleton Partners, a multinational technology mergers and acquisitions advisor, shows that "special purpose acquisition companies" led two of the three largest Autotech deals in the second half of 2020. (SPACs).
The largest acquisition in Autotech was Gores Metropoulos' $3.4 billion purchase of Luminar Technologies in August 2020, after which the company was listed on the Nasdaq. Advanced long-range, high-resolution lidar and perception systems are provided by Luminar Technologies to allow secure autonomous transportation.
The third-largest acquisition was by SPAC Thunder Bridge, which bought "system-on-chip" manufacturer Ay Dee Kay, now known as Indie Semiconductor, for $1.5bn. Indie Semiconductor's integrated semiconductor and software solutions support new automotive applications.
All in all, the Autotech sector witnessed an increase in the number of M&A transactions in the second half of 2020, with 50 deals inked, a 25 percent increase compared to the 40 deals recorded in 1H2020 and the highest level since 2H2017.
Effect of Covid-19 on Automotive
In the first half of 2020, Covid-19 wreaked havoc on the automotive supply chain and a variety of strategic players. The auto industry's supply chain was hampered as the coronavirus crisis occurred, with restricted access to parts and raw materials imported from China. Simultaneously, the industry experienced a significant drop in demand, with profits plummeting in the face of unemployment and financial instability.
In 2020, the number of new passenger car registrations in the EU dropped by 24%. France, Italy, and Spain, which were all hard hit by the Covid-19 pandemic, saw above-average sales declines of 26%, 28%, and 32% in 2020, respectively.
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