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 leader in distributed fiber optic monitoring solutions, including for power cable, pipelines oilfield services, security and highways, railways, and industrial fire detection system.
Luna will now have a greater presence in these high-growth countries.
Luna is led by Scott Graeff (President and Chief Executive Officer), who believes that this acquisition will:
- Offer long range, fully distributed strain and temperature sensing capabilities, intellectual property, products, expertise, and other services to enhance its existing offerings
- Cross-selling is possible by bringing in a wide range of blue-chip customers.
- To increase its intellectual property portfolio, to around 800 patents active or pending
- Increase its international presence by leveraging its existing strong international customer base as well as its sales capabilities.
- Rapid expansion opportunities in high-growth markets like security and perimeter detection and smart infrastructure monitoring, oil and gas, and oil and natural gas
- To grow your operations, customer base and offerings, leverage the combination LIOS and Luna
Luna Innovations Incorporated will make LIOS a wholly owned subsidiary. However, it will continue to operate under the existing brand name for the foreseeable future. The company will continue to employ LIOS employees, which has offices in Germany as well as the United States.
Luna Innovations Incorporated’s President and Chief Executive Officer Scott Graeff is the leader in optical technology. He provides unique capabilities in high-performance fiber optic-based testing products for the telecommunications and distributed fiberoptic-based sensing solutions for a wide range of industries.
NKT Photonics supplies high-performance fiber lasers and fiber optic sensing systems. Its main markets are Medical & Life Science, Industrial, Aerospace & Defense, and Quantum & Nano Technology. Ultrafast lasers, supercontinuum light lasers, low noise fiber lasers and a variety of specialty fibers are some of the products. NKT Photonics headquarters is in Denmark, with sales and service around the world. NKT A/S owns 100% of NKT Photonics.