Luminar receives a larger $33 million bid for its lidar business

Luminar’s lidar business received a higher bid of $33 million from MicroVision during a court-run auction in the company’s bankruptcy case, surpassing the previous $28 million offer from Quantum Computing Inc., the stalking horse bidder. MicroVision, a company specializing in lidar sensor development, plans to acquire Luminar’s intellectual property, inventory related to Iris and Halo lidar sensors, key engineering and operations talent, and certain commercial contracts. MicroVision’s CEO Glen DeVos emphasized the company’s intent to disrupt and consolidate the lidar market by leveraging its automotive leadership and diverse lidar sensor portfolio to enhance commercial adoption and safety. The sale is pending approval by the bankruptcy judge, with a hearing scheduled shortly. It remains unclear whether Luminar’s founder and former CEO Austin Russell submitted a bid, though he had expressed interest through his new venture, Russell AI Labs. The bankruptcy proceedings have involved legal disputes between Russell and Luminar, including a subpoena and protective order concerning Russell’s personal information. If the sale is approved,