Indie Company Contemplating Sale Amid Losses, Report Reveals

Bloomberg has reported that Indie Semiconductor is currently working with an adviser and is receiving interest from potential buyers, according to unnamed sources. The sources mentioned that Indie could draw attention from various semiconductor and electronics companies, as well as private equity firms.

Following this news, the company's shares, which had been trading around US$6.75, saw an increase to approximately US$7.50 on Monday and maintained that position through Tuesday. Indie Semiconductor's intraday market capitalization was noted at US$1.27 billion.

Indie Semiconductor, known for producing chips and software for automated driving assistance systems, went public in 2020 through a reverse SPAC deal. Despite its lack of profitability, the company has been actively acquiring other businesses. Some of its notable acquisitions include Geo Semiconductor, Silicon Radar, and Exalos.

Although Indie Semiconductor has managed to double its revenue over the past two years, it reported a net loss of US$128.8 million on revenue of US$223.2 million in 2023. The previous year, in 2022, the company recorded a net loss of US$52.8 million with sales amounting to US$110.8 million. In 2021, Indie Semiconductor incurred a net loss of US$118.6 million on sales revenue of US$48.4 million.

For more information about Indie Semiconductor, you can visit their official website at www.indiesemi.com.

Recent Developments:

1. Indie Semiconductor supports Expedera AI for ADAS chips

2. Acquisition of Exalos for US$65 million to enhance lidar technology

3. Purchase of Silicon Radar for occupancy monitoring solutions

4. Acquisition of a camera sensing firm to develop 'uncrashable' cars

5. Establishment of a design center in Dresden by Indie Semiconductor