(Bloomberg) — Indie Semiconductor Inc. has been exploring strategic options including a sale, people with knowledge of the matter said.
Most Read from Bloomberg
The automotive technology company has been working with an adviser as it fields interest from prospective buyers, according to the people, who asked not to be identified discussing confidential information. Indie Semiconductor could attract private equity firms and other industry players, they said.
There’s no certainty the deliberations will lead to a transaction, and Indie Semiconductor could opt to remain independent, the people said. A representative for Indie Semiconductor didn’t immediately respond to requests for comment.
The company, based in Aliso Viejo, California, makes semiconductor and software for driver assistance systems and autonomous vehicles. It went public in 2020 through a merger with the blank-check company Thunder Bridge Acquisition II Ltd.
Indie Semiconductor, which has not become profitable, has lost more than a quarter of its value over the last 12 months, giving it a market capitalization of about $1.3 billion. Last year, it acquired GEO Semiconductor Inc., which makes video processors for car cameras, a statement showed.
–With assistance from Katie Roof and Crystal Tse.
Most Read from Bloomberg Businessweek
©2024 Bloomberg L.P.
