Strengthens global fiber sensing powerhouse
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LIOS Sensing’s market-leading position in distributed temperature sensing (DTS) and strain and Luna’s suite of sensing products forms industry’s most comprehensive portfolio
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Further expands international presence and adds to global leadership position
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Complementary customer base provides for expanded sales opportunities
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Allows for further expansion into high-growth markets
-Luna Innovations Incorporated , a global leader in advanced optical technology, announced it has acquired LIOS Sensing (“LIOS”), a division of NKT Photonics, a NKT A/S company, for €20 million 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.
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“Combining LIOS’s 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.”
“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’s 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.”
Basil Garabet, NKT Photonics’ President and Chief Executive Officer, said “We are delighted to announce the sale of LIOS Sensing to Luna. As a respected, pure-play fiber optics company, Luna provides expanded capabilities and solutions for our customers and a great place to work for our employees.”
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Compelling Strategic Benefits
Luna expects that this acquisition will:
- Provide Luna with long range, fully distributed temperature and strain sensing capability, intellectual property, products and expertise that strongly complements Luna’s existing offerings
- Bring a diverse, blue-chip customer base, representing a significant opportunity for cross-selling
- Expand Luna’s intellectual property portfolio to approximately 800 patents active and pending
- Augment Luna’s 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 rapidly grow operations, customer base, offerings, and financial profile
Transaction Terms and Financing
Luna is acquiring LIOS for €20 million – approximately $22 million in USD. The transaction was funded using a combination of Luna’s cash position and its existing revolving line of credit.
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.
Stifel Inc. served as financial advisor and Cooley LLP served as legal advisor to Luna.
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