Luminar Technologies Inc. LAZR, -2.81% Chief Executive Austin Russell told The Wall Street Journal on Friday that he is buying an 82% stake in Forbes. The deal includes the remaining portion of the company owned by the Forbes family and ends a long sale process, the Journal reported. Shares of Luminar edged higher in the extended session Friday after ending the day down 2.8%. The company develops lidar-based and other technologies for autonomous vehicles. In January at the CES conference Russell made the case for lidar as a safer AV system than others.

Source: Forbes May 13, 2023 05:44 UTC