Luna Innovations acquires Lios Sensing
NKT Photonics has divested its Lios Sensing business to the American company Luna Innovations for a total consideration of 20 million euros.
With the divestment NKT Photonics fully focuses on its core business within lasers and fiber optic solutions to the medical & life science, quantum and nano technology, industrial, and aerospace and defense markets. The activities comprise sales, development and production including the main site in Cologne, Germany, and the sales office in Portland, USA, and covers 66 employees. The divestment is effective as of March 10, 2022.
Luna Innovations is well-known for optical technology, providing unique capabilities in high-performance, fiber optic-based test products for the telecommunications industry and distributed fiber optic-based sensing for the aerospace and automotive industries.
“The acquisition of LIOS marks an important milestone for Luna. We are bringing together two complementary businesses which will further support our growth trajectory,“ said Scott Graeff, president and chief executive officer of Luna. “Combining Lios’ market-leading position in temperature and strain sensing with Luna’s broad fiber optic offerings, allows us to capitalize on significant technology advancements and enhanced market opportunities. We are very excited about welcoming Lios to the Luna team.”
Lios will become a fully-owned subsidiary of Luna, while continuing to operate under its existing brand for the foreseeable future. Its employees will remain within the company, with offices in Germany and the US.
NKT Photonics’ CEO Basil Garabet says: “The Lios Sensing business has a great potential and future, however, the synergies with our fast-growing laser and fiber business are limited in terms of business model, technology, and markets. We are delighted to provide the Lios team with a new home at Luna dedicated to sensing solutions, and to focus NKT Photonics on our core business.
The transaction does not change the 2022 financial outlook for NKT Photonics. In 2021, NKT Photonics revenues – excluding the Lios Sensing business – were 68 million euros.
