Why MicroVision Stock Soared Today
Next-generation assisted-driving tech company MicroVision (NASDAQ: MVIS) had a macro Wednesday as far as its stock performance was concerned. Shares of the low-priced company zoomed 17% higher to nearly $3 per share on news that it had closed a promising acquisition.
That morning, MicroVision announced that it had completed its deal for certain assets of peer company Ibeo Automotive Systems. The former will pay up to 15 million euros ($16 million) for these assets, which cover both hardware and software, plus related intellectual property and team members.
The deal will allow MicroVision to integrate the privately held, Germany-based company's perception software features into its MicroVision ASIC assisted-driving system.
Source Fool.com
