Luna Innovations, which specializes in high-performance fiber optic-based test products for the telecommunications industry and distributed fiber optic-based sensing for the aerospace and automotive industries, has acquired Micron Optics, a provider of optical components and laser-based measurement technology. Financial terms were not disclosed.
Micron Optics’ sensing and measurement solutions are deployed in multiple industries including in automotive and aerospace, Luna’s core customer base.
“This acquisition exemplifies execution of the strategy we’ve developed. The acquisition of Micron Optics fits squarely within our core technology platform and target markets, and we believe will act as a catalyst to accelerate growth,” said Scott Graeff, President and Chief Executive Officer of Luna. “We are focused on scaling our two vertical markets – structural testing and sensing as well as communications testing – with a particular emphasis on the growing aerospace and automotive areas. We intend to drive growth organically and through the strategic deployment of capital. This acquisition is a prudent use of capital that is quickly accretive to our earnings, consistent with the parameters I’ve outlined previously, in terms of driving long-term value creation.”
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