Xperi Inc. to sell its AutoSense and imaging business to Tobii AB

SAN JOSE, Calif. – Xperi Inc. (NYSE: XPER) (the "Company" or "Xperi"), an entertainment technology company that invents, develops, and delivers technologies that enable extraordinary experiences, today announced it has entered into a definitive agreement to sell its AutoSense in-cabin safety business and related imaging solutions to Tobii AB, an eye tracking and attention computing company based in Sweden listed on the Stockholm Nasdaq exchange.

Sale proceeds of $42.7 million are comprised of a senior secured promissory note in the principal amount of approximately $27.7 million carrying a fixed rate of 8% interest to be repaid by Tobii in three annual installments beginning in 2027, and an aggregate of $15 million in future cash payments scheduled to be received over four years beginning in 2028. In addition, there is potential incremental contingent cash consideration paid in 2031 directly tied to the success of Tobii's in-cabin safety business over the next seven years.

The transaction is subject to customary closing conditions and is expected to close within 30 days. The estimated impact on 2024 revenue is approximately $30 million and the transaction is expected to be modestly accretive to Adjusted EBITDA upon closing. The Company expects to issue 2024 full-year guidance in February.

Read the full press release here.

Xperi, Inc.