Luna Innovations Incorporated (NASDAQ: LUNA), a Roanoke, VA-based global leader in advanced optical technology, acquired LIOS Sensing (“LIOS”), a division of NKT Photonics, a NKT A/S company (NASDAQ: NKT.CO), for €20m in cash.
LIOS is a recognized market leader in distributed fiber optic monitoring solutions for power cable, pipelines, oilfield services, security, highways, railways and industrial fire detection systems.
The acquisition will further expand Luna into these high-growth markets.
Led by Scott Graeff, President and Chief Executive Officer, Luna expects that this acquisition will:
- provide long range, fully distributed temperature and strain sensing capability, intellectual property, products and expertise that complements its existing offerings
- Bring a diverse, blue-chip customer base, representing a significant opportunity for cross-selling
- Expand its intellectual property portfolio to approximately 800 patents active and pending
- Augment its international presence, building upon its already strong international customer base and sales capability
- Generate rapid expansion opportunities into high-growth markets such as security and perimeter detection, smart infrastructure monitoring and oil and gas
- Leverage the combination of LIOS and Luna to grow operations, customer base, offerings, and financial profile
LIOS will become a fully owned subsidiary of Luna Innovations Incorporated, while continuing to operate under its existing brand for the foreseeable future. LIOS employees will remain within the company, with offices in Germany and the United States.
Led by Scott Graeff, President and Chief Executive Officer, Luna Innovations Incorporated is a leader in optical technology, providing unique capabilities in high-performance, fiber optic-based, test products for the telecommunications industry and distributed fiber optic-based sensing for a multitude of industries.
NKT Photonics is a supplier of high-performance fiber lasers, fiber optic sensing systems, and photonic crystal fibers. Its main markets are Medical & Life Science, Industrial, Aerospace & Defense, and Quantum & Nano Technology. Products include ultrafast lasers, supercontinuum white light lasers, low noise fiber lasers, and a wide range of specialty fibers. NKT Photonics has its headquarters in Denmark with sales and service worldwide. NKT Photonics is wholly owned by NKT A/S.
FinSMEs
14/03/2022