Tobii AB (publ) (OM:TOBII) entered into a definitive agreement to acquire FotoNation Limited from Xperi Inc. (NYSE:XPER) for $45 million on December 12, 2023. The consideration for 100 percent of the shares in FotoNation Ltd on a cash- and debt-free basis amounts to a minimum of $45 million. No upfront cash or share consideration. Approximately $30 million of the consideration will be structured as a promissory note at 8% interest. The promissory note and interest are paid in three annual installments starting in 2027. A future payment of $15 million will be paid in four annual installments starting in 2028. Additional earn outs can be paid in 2031 if the Segment meets certain volume and deployment targets. Tobii acquires FotoNation Ltd from Xperi Inc., which includes AutoSense, a business delivering Driver Monitoring System (?DMS?) and Occupant Monitoring System (?OMS?) solutions. The transaction is subject to customary closing conditions and is expected to close within 30 days. The Transaction is expected to be EBIT accretive in 2024. Centerview Partners LLC acted as Financial advisor and DLA Piper LLP (US) acted as Legal advisor to Xperi Inc. The closing date is now expected to occur in January 2024. Carnegie Investment Bank AB (publ) acted as financial advisor to Tobii AB. Advokatfirman Vinge and Katten Muchin Rosenman LLP are acting as legal counsels.

Tobii AB (publ) (OM:TOBII) completed the acquisition of FotoNation Limited from Xperi Inc. (NYSE:XPER) for $64 million on January 31, 2024. Additional earnouts of approximately $19 million may be generated for the Autosense segment upon meeting specific volume targets,with payout scheduled for 2031.