Ambarella acquired Oculii for ~308 million in cash

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• Ambarella (NASDAQ:AMBA) concludes its previously announced transaction to acquire Oculii Corp.
• According to the agreement, AMBA would acquire all outstanding capital stock of Oculii for $307.5M.
• Per the terms, Ohio Merger Sub merged with and into Oculii, and all outstanding capital stock of Oculii was canceled and converted into the right to receive cash.
• Following the close, Oculii has become a wholly-owned subsidiary of Ambarella (AMBA). Oculii's co-founder and CEO, Steven Hong, will serve as Ambarella’s Vice President and General Manager, Radar Technology. Professor Lang Hong, co-founder, and CTO will become an Ambarella Fellow.
• Previously (Oct. 26): Ambarella agrees to acquire Oculii; terms undisclosed.