Foley Represents Torc Robotics in Acquisition of Algolux

27 April 2023 News

Foley & Lardner LLP served as legal adviser to Torc Robotics (Torc), a pioneer in commercializing self-driving vehicle technology, in closing a strategic transaction to acquire Algolux Inc. (Algolux), an internationally recognized leader in autonomous vehicle perception technology.

Torc, an independent subsidiary of Daimler Truck AG, has acquired Algolux, a Canadian perception technology company with subsidiaries in the United States and Germany, for its award-winning intellectual property and expertise in the areas of computer vision and machine learning. Algolux’s innovative technology operates the intersection of deep learning, computer vision, and computational imaging.  This strategic acquisition will help Torc strengthen its innovative technologies and advance its commercialization of Level 4 autonomous trucking.

This successful transaction underscores Foley’s proven capabilities in complex, cross-border acquisitions involving cutting-edge technology. By leveraging a collaborative, multi-disciplinary approach, attorneys in the Innovative Technology sector team help clients identify, pursue, and protect key technologies driving new business opportunities – both in the United States and around the world.

The Foley core Innovative Technology transaction team included Partners Christopher Swift and Dave Kantaros and Associates Paige Moscow, Laura Burlot, and Grace Fucci.

Specialists contributing to this transaction included Partners Jamie Class, Michael Dubner, Christopher Grigorian, Casey Knapp, John Litchfield, Raj Tanden, Eric Sophir, and Aaron Tantleff, Of Counsels Kathleen Dreyfus Bardunias, Marina Choundas, and Mark Neuberger, and Associates Christopher Bird, Avi Ginsberg, Gage Maurer, and Alexander Misakian.