News

Sep 14, 2023

Israeli 'smart glass' tech firm Gauzy buys French shading solutions company

Ricky Ben-David is The Times of Israel’s Tech Israel editor and reporter.

Ricky Ben-David is The Times of Israel's Tech Israel editor and reporter.

Israeli smart glass technology provider Gauzy announced Tuesday that it has acquired a French company to bolster its offerings and become a leading, global solutions firm for light control and shading system technologies.

The terms of the acquisition deal for France-based Vision Systems, a tier-one supplier that develops shading solutions for the aeronautic, land transport, and marine industries, were not disclosed. But Gauzy simultaneously announced that it raised $60 million in a Series D round with existing investors such as Ibex, Olive Tree VC, Blue Red Partners, Russian private equity firm Waarde Capital, and Avery Dennison, a multinational maker of packaging solutions. New investors included US VC firm Walleye Capital, India's 3A Capital, and German firm Davidson Capital.

Gauzy was founded in 2009 by Eyal Peso, CEO, and Adrian Loffer, who serves as the company's chief technology officer. The Tel Aviv-based operation went on to develop liquid crystal glass panels, or smart glass, for use in a variety of industries including automotive, consumer electronics, construction, home appliances and solar.

Its LCG (light control glass) products bring high technology to glass, films and other materials, allowing for a number of applications, including controlling the transparency of windows, making a window go from clear to frosted at a touch of a button, and creating optical blinds within the glass for privacy and shading.

Gauzy has been working with a number of carmakers worldwide, including Daimler, to integrate its light control glass technologies into their vehicles. It has running partnerships with BMW, LG, automotive supplier Brose, Vision Systems, Texas Instruments, and others on a range of light and shading products, Peso previously told The Times of Israel.

With the acquisition of Vision Systems, Gauzy said it plans to make inroads into the ADAS (Advanced Driver Assistance System) industry, leveraging the French company's SafetyTech solutions that offer camera-based image analysis and monitoring systems, and customized designs for light control and shading elements. The solutions are applicable for private, public, and industrial vehicles.

Gauzy said light control technology can be used in ADAS "to reduce visual obstructions such as glare on the road, create safety gates with instant on-demand privacy for public transport operators if there is a perceived threat, and for high contrast switchable transparent displays to communicate safety messages to the surrounding environment."

Vision Systems has the largest global market share of cockpit shading solutions, and the combined company will aim to address core industries including private and commercial aviation, marine, railway, bus and coach, and motorhomes, the company said.

"A core motivation for this strategic acquisition is diversification, most notably marked with Gauzy's expansion into ADAS (advanced driver assistance systems) and APAS (advanced passenger assistance systems) products," said Peso, who serves as Gauzy CEO. "Further advancing ADAS and APAS solutions to incorporate LCG technologies from a system-based approach addresses a growing demand for safety-focused solutions in the transportation industry."

Carl Putman, Vision Systems CEO said the acquisition "gives rise to an international group, specialized in solutions that enhance safety and comfort in transportation and architecture."

This strategy was made possible thanks to the innovative efforts made by both companies those last few years, and to the visionary management and strategic marketing approach. In addition, outstanding know-how in the field of nanomaterials combined with high-level expertise in integrating electronics and composite into complete systems, will enable the development of a range of customized products being the best-in-class on the market."

Gauzy employs close to 500 people across 14 global offices. The company reported revenue of $50 million during fiscal year 2021.

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