TechCrunch Mobility: A takeover that might not be hostile

The article from TechCrunch Mobility highlights a significant development involving lidar company Luminar and its founder, Austin Russell. After being pushed out of Luminar following an ethics inquiry by the board, Russell has resurfaced with a new venture, Russell AI Labs, and has made a bid to acquire Luminar. Although this move might appear hostile, sources reveal that some members of Luminar’s board actually encouraged Russell’s proposal, indicating a desire among certain board members to bring him back despite the recent ethics investigation that led to his resignation. The takeover plan may involve Russell AI Labs acquiring another automotive tech company and merging it with Luminar, though details remain vague. The article also covers notable deals in the electric aviation sector. Beta Technologies is pursuing an IPO with a potential valuation of $7.2 billion, benefiting from recent SEC guidance that eases IPO procedures. Meanwhile, Archer Aviation acquired the patents of defunct electric aircraft startup Lilium for €18 million ($21 million), a fraction of Lilium’s lifetime