Luna Innovations Incorporated (NASDAQ: LUNA), a Roanoke, VA-based global leader in advanced optical technologies, has acquired LIOS Sensing (“LIOS”), a division of NKT Photonics, an NKT A/S Company (NASDAQ: NKT.CO), to €20 million in cash.
LIOS is a recognized market leader in fiber optic distributed monitoring solutions for power cables, pipelines, oilfield services, security, highways, railways and industrial fire detection systems.
The acquisition will allow Luna to further expand into these high growth markets.
Led by Scott Graeff, President and CEO, Luna expects this acquisition to:
- provide long-range, fully distributed temperature and strain sensing capability, intellectual property, products and expertise that complement its existing offerings
- Bring in a diverse, blue-chip customer base, representing a significant cross-selling opportunity
- Expand its intellectual property portfolio to approximately 800 active and pending patents
- Increase its international presence, building on its already strong international customer base and sales capacity
- Generate opportunities for rapid expansion in high-growth markets such as security and perimeter detection, intelligent 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 wholly owned subsidiary of Luna Innovations Incorporated, while continuing to operate under its existing brand for the foreseeable future. LIOS employees will remain with the company, with offices in Germany and the United States.
Led by Scott Graeff, President and CEO, Luna Innovations Incorporated is a leader in optical technology, providing unique capabilities in high-performance fiber optic-based test products for the telecommunications and distributed sensing based on fiber optics 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 and life sciences, industrial, aerospace and defense, and quantum and nano technology. Products include ultrafast lasers, supercontinuum white light lasers, low noise fiber lasers and a wide range of specialty fibers. NKT Photonics is headquartered in Denmark with sales and service worldwide. NKT Photonics is 100% owned by NKT A/S.