Our little startup community is hopping with news lately. PulsedLight — designer of optical distance measurement technology — announced today that it’s been acquired by Garmin. Co-founders Dennis Corey and Bob Lewis launched their company in 2011.
They ran a highly successful crowdfunding campaign in 2014, raising $82,000 to help them manufacture their first round of “compact, low power, high performance distance measurement sensors,” for use on drones, robots, or unmanned vehicles.
Here’s more on the acquisition from today’s news release:
“Optical distance measurement technology fits in nicely with Garmin’s core competencies of location and positioning,” said Cliff Pemble, Garmin president and CEO. “We are delighted to add PulsedLight and their capabilities to the Garmin portfolio.”
“We are excited to have the support of a technology leader like Garmin. They are able to provide the resources and manufacturing expertise to integrate our technology into incredibly useful new devices that serve a multitude of markets,” said Dennis Corey, president and co-founder of PulsedLight. “We look forward to an exciting future under the Garmin umbrella.”
The PulsedLight office and its design associates will be retained by Garmin International. Financial terms of the acquisition will not be released.
Congrats Dennis and Bob! We’re excited to see what you do next.
This is second startup acquisition in Bend in as many months. In early December, another #50startups — SmartWaiver — was acquired by a group of Bay Area investors. Founder Mark Silliman has already started his next company, Bold Robotics.