Quantum Computing (QUBT) said late on Monday that it had completed its acquisition of Luminar Semiconductor.
Shares rose 2.7% in premarket trading on Tuesday.
In December, Hoboken, N.J.-based Quantum Computing announced its intention to acquire Luminar Semiconductor for $110M in an all-cash deal from Luminar Technologies (LAZR). Quantum Computing said it would acquire the unit to boost its portfolio of core photonic technologies, patents, and engineers.
Last month, Quantum Computing was selected as the stalking horse bidder for select remaining assets of Luminar Technologies (LAZRQ) as part of Luminar’s Chapter 11 process.
Luminar Technologies (LAZR) filed for Chapter 11 bankruptcy protection in December after it lost a key contract with Volvo AB (VOLAF) (VLVLY) (VOLVF) in November.
