Ex-Qualcomm Executives Bet on Automotive AI in Canada SPAC Deal



Canada’s market for initial public offerings is in a deep freeze. A Quebec company that’s developing software for self-driving vehicles aims to sidestep that problem through a merger with a US-listed blank-check firm that’s backed by former Qualcomm Inc. executives.

LeddarTech Inc. is moving towards a Nasdaq listing by merging with special purpose acquisition company Prospector Capital Corp. Prospector shareholders are due to vote Wednesday on the proposed deal, which values the business at $348 million.

LeddarTech products are designed to improve the effectiveness of vehicles’ sensors and driver-assistance features by modeling the car’s surroundings using artificial intelligence. The company’s executives say its technology provides better performance at a lower cost for driver-assistance systems — such as emergency, lane keeping and parking assist — than other comparable platforms.

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