OUST - Proposed Merger Sends Tech Shares Higher

A California-based tech firm is turning heads on Monday morning after it was announced that the company has entered into a definitive agreement to merge in an all-stock transaction with %Ouster (). This sent shares of %VelodyneLidar () soaring before the bell.

Velodyne Lidar Inc provides smart, powerful %LidarSolutions . It is known for its broad portfolio of lidar technologies. Velodyne's revolutionary sensor and software solutions provide flexibility, quality, and performance to meet the needs of a wide range of industries, including autonomous vehicles, advanced driver assistance systems ( %ADAS ), robotics, unmanned aerial vehicles (UAV), smart cities, and security. Through continuous innovation, Velodyne strives to transform lives and communities by advancing safer mobility for all.

Traders appear to be very optimistic about the merger as shares of this small cap are currently bid up at $0.965/share (+8.39% implied open for sellers) at the time of writing. This should be an exciting session for this stock!