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Ainstein and ADAC Automotive are Working Toward a Joint Venture, RADAC Automotive, to Drive Development and Deployment of mmWave Radar-Based Sensing Solutions Integrated Into Functional Exterior Assemblies

January 2, 2020 GMT

LAS VEGAS--(BUSINESS WIRE)--Jan 2, 2020--

CES 2020Ainstein, a leader in designing and building intelligent radar systems, and ADAC Automotive, a leading Tier 1 global automotive supplier, today announced they have entered into an agreement to create a global joint venture that will design, develop, and manufacture innovative mmWave radar-based sensing solutions for use in the global automotive marketplace. RADAC Automotive will hold demos of its first patent pending solution, a mmWave radar module, designed to enhance the customer experience by providing hands-free vehicle access at this year’s CES, January 7-10, 2020 in Las Vegas.

To arrange a demo with RADAC, please contact us info@radacautomotive.com or visit us at the Texas Instruments Village at the Las Vegas Convention Center, North Hall, Suite 115.

“The process of combining these leading businesses, each with distinct strengths, will accelerate the development of advanced mmWave technology much more rapidly than either of us could achieve individually,” said Andrew Boushie, Ainstein’s Vice President of Strategy and Partnerships. “We believe that this joint venture is a great opportunity to ensure the future success of both organizations, while unlocking a broader scope of advanced radar development and distribution.”

“ADAC Automotive has a history of creating partnerships that have extended our reach in terms of customers and global footprint. This partnership with Ainstein will extend ADAC’s reach in technology and product, which is a core part of our strategy going forward,” said ADAC Automotive’s Executive Vice President of Global Business Development, Jeff Ackerman.

“The proximity gesture access technology displayed at CES is our first project of many and represents a fraction of the potential growth for RADAC. ADAC’s strategy of vertically integrating electronics into functional and cosmetic exterior applications dovetails extraordinarily well with Ainstein’s objective to capitalize on the upside potential in automotive to lead in radar based sensing,” said ADAC Automotive’s Executive Director of Global Sales, Jack Prince.

The joint venture is the next step in the strategic alliance forged between Ainstein and ADAC Automotive and is expected to be operational by the second quarter of 2020. Ainstein will contribute its innovative core radar technology to ADAC Automotive’s proven Tier 1 supplier reputation. RADAC Automotive will operate independently as a “new” radar technology Tier 1 supplier. RADAC will offer both products and services to the global automotive market.

RADAC Automotive will focus on mmWave radar-based sensing solutions for use in the global automotive marketplace for the following types of applications:

Visit www.radacautomotive.com for more information.

About Ainstein

Founded in 2015, Ainstein enables safer driving, flying, working and living through radar-based technology. Leveraging our radar technology and expertise, we are continuously imagining, developing and perfecting products that haven’t been built before. We make radar more affordable and easier to deploy, offering complete customized solutions for autonomous drones, advanced driver-assistance systems (ADAS), autonomous vehicles, and industrial sensing. We incorporate a combination of mmWave radar, sensor fusion and artificial intelligence (AI) technologies into all of our products. Headquartered in Lawrence, Kansas, Ainstein is in the business of improving safety and protecting valuable assets through innovation. Learn more at www.ainstein.ai.

About ADAC Automotive

ADAC Automotive is a privately-held, family-owned, Tier 1 automotive supplier that manufactures vehicle access products and electronics for the global automotive market. ADAC was founded in Grand Rapids, Michigan in 1975 and employs 1,300 associates in seven facilities throughout the state. Its five manufacturing locations have a footprint of over 600,000 square feet. ADAC’s partnership with WITTE Automotive GmbH of Germany and STRATTEC Security Corporation of Wisconsin in Vehicle Access Systems Technology, or VAST Automotive Group, provides a footprint in Europe, Asia, India, and Brazil. ADAC has two facilities in Mexico through a joint venture named ADAC STRATTEC de Mexico, or ASdM. Collectively, VAST and ASdM have 14,000 employees globally and generate $1.7 billion in sales. For more information, visit www.adacautomotive.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20200102005386/en/

CONTACT: Katie Parr and Tim Johnson

UPRAISE Marketing + PR for Ainstein

415-397-7600

ainstein@upraisepr.com

KEYWORD: NEVADA UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: TECHNOLOGY GENERAL AUTOMOTIVE AUTOMOTIVE CONSUMER ELECTRONICS

SOURCE: Ainstein

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PUB: 01/02/2020 11:03 AM/DISC: 01/02/2020 11:03 AM

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